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Introducing the Exchange Traded Pieced Loan – An Asset-Backed Security Design with Chinese Characteristics

Bußmann, Richard - 2014

English Abstract: The author proposes a new type of asset-backed security, called Exchange Traded Pieced Loan (ETPL), designed to address a variety of major issues for savers, lenders, borrowers, authorities and other stakeholders in China's markets for investment and credit. An ETPL's...

Persistent link: https://www.econbiz.de/10013053830

The Motivations of Issuing Convertible Bonds - An Inquiry regarding the Sequential-Financing Hypothesis

Chen, Chun-Da; Hung, Fu-Pin; Chen, Dar-Hsin; Lin, Hsin-Ho - In: Journal of Economics and Management 4 (2008) 2, pp. 229-250

The aim of this paper is to re-examine the sequential-financing hypothesis in the context of convertible bond issuances from firms listed on the Taiwan Stock Exchange from 1994 to 2003. The results contend that announcements of convertible debt offerings are, on average, associated with...

Persistent link: https://www.econbiz.de/10008541454

Reviewing Credit and Banking in Contemporary China : A Call to Action

Bußmann, Richard - 2014

English Abstract: The authors review the availability and allocation of commercial credit in China, the investment options presented to savers and the funding options available to Chinese banks. They highlight the markets intrinsic deficiencies, vast externalities and tremendous potentials for...

Persistent link: https://www.econbiz.de/10013057291

中国城投债风险溢价的及时性度量与预测 : 基于高维适应性算法的构建分析 (The Real-Time Measuring and Forecasting of the Chinese Chengtou Bond Risk Premia —Based on the Method of High-Dimensional Adaptive Algorithm )...

Li, Xinjue; Niu Linlin, Xia Hongyu - 2021

。债券平均规模与债券剩余期限的网络节点效应对债券未来风险溢价也有较大影响。从实证结果的政策含义上来看：一方面，准确、全面地披露城投债信息、管控城投债系统性风险，有助于维系债券市场价格信号的有效性，稳定债券市场；另一方面，在控制城投债风险溢价的过程中，政府需要重点关注风险溢价波动较高、债券发行数量较多的省份，同时也需要时刻关注债券的平均规模与剩余期限，在各省实行差异化的适应性金融政策，对深化金融供给侧结构性改革，维护脱贫攻坚成果具有重要意义。English abstract: As a barometer to measure the risk, the risk premia of bonds imply the risk of the bond market. When using the … parametric model to predict the risk premia, the external policies and the real-time changes of the economy not only will lead to … a more reasonable parameter modeling method to predict the future trend of bond risk premia. We find that, ①in the …

Persistent link: https://www.econbiz.de/10013231839