Corporate Bond Markets

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Corporate Bond Markets In Asia Challenges And Opportunities For Growth Companies

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2024-03-12

Corporate Bond Markets In Asia Challenges And Opportunities For Growth Companies written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-12 with categories.

This report presents a comprehensive analysis of the use and structure of corporate bond markets in Asia.

An Anatomy Of Corporate Bond Markets Growing Pains And Knowledge Gains

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Author : Li L. Ong
language : en
Publisher: INTERNATIONAL MONETARY FUND
Release Date : 2005-07-01

An Anatomy Of Corporate Bond Markets Growing Pains And Knowledge Gains written by Li L. Ong and has been published by INTERNATIONAL MONETARY FUND this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-07-01 with categories.

The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both mature and emerging markets. We suggest that core aspects such as benchmarking, corporate governance and disclosure, credit risk pricing, the availability of reliable trading systems, and the development of hedging instruments are fundamental for improving the breadth and depth of corporate debt markets. The demand and supply of corporate bonds are dependent on factors such as the investor base, both local and foreign, and government policies toward the issuance process and associated costs, as well as the taxation regime. The sequencing of reforms is key to market development.

What Slice Of The Pie The Corporate Bond Market Boom In Emerging Economies

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Author : Ms.Diana Ayala Pena
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-07

What Slice Of The Pie The Corporate Bond Market Boom In Emerging Economies written by Ms.Diana Ayala Pena and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-07 with Business & Economics categories.

This paper studies the determinants of shifts in debt composition among EM non-financial corporates. We show that institutions and macro fundamentals create an enabling environment for bond market development. During the recent boom episode, however, global cyclical factors accounted for most of the variation of bond shares in total corporate debt. The sensitivity to global factors appears to vary with relative bond market size—which we interpret to be associated with liquidity and easy entry and exit—rather than local fundamentals. Foreign bank linkages help explain why bond markets increasingly substituted for banks in channeling liquidity to EMs. Our results highlight the risk of capital flow reversal in EMs that benefited from the upturn in the global financial cycle mostly due to their liquid markets rather than strong fundamentals.

Building Local Bond Markets

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Author : Alison Harwood
language : en
Publisher: World Bank Publications
Release Date : 2000-01-01

Building Local Bond Markets written by Alison Harwood and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-01-01 with Business & Economics categories.

Since the Asia and Tequila crises of the late 1990s, a growing number of emerging market countries have focused on developing local bond markets to lock in local currency, fixed-rate and long-term funding, and help governments and corporations better manage their financing risks. International organizations from Washington to Southeast Asia are pushing bond market development, to reduce global instability by improving domestic risk management. This book is part of the International Finance Corporation's efforts to assist countries in South Asia and other parts of the world to identify their need for local bond markets, the impediments to developing them, and how those impediments might be removed. The book is based on papers presented at the South Asian Debt Market Symposium held in Sri Lanka in October 1999. It provides valuable insights to emerging market nations wrestling with the issue of building local bond markets. This book will be of interest to bond market specialists, policymakers, and the private sector.

Corporate Bond Markets

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Author : Moorad Choudhry
language : en
Publisher: John Wiley & Sons
Release Date : 2011-12-14

Corporate Bond Markets written by Moorad Choudhry and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-12-14 with Business & Economics categories.

Moorad continues to demonstrate his financial expertise, and shows us why he is one of the best-selling authors in our industry today. - Eric Subliskey, Vice President, Short-Term Fixed Income JPMorgan Securities inc., New York An invaluable reference work for anyone connected with the corporate debt markets, be they issuer, investor or trader. Dr Choudhry writes in his trademark accessible style and provides the reader with a wealth of data and insight on the latest market products and techniques. Highly-recommended. - Ketul Tanna, Assistant Vice President, Market Risk Management JPMorgan Chase Bank, London The Predominant fixed income author is back with this updated version of Corporate Bond Markets. A Comprehensive work on fixed income products and applications, this book is a valuable reference text and teaching tool. Why go anywhere else for bond market information? - Rod Pienaar, Research Partner YieldCurve.com

An Anatomy Of Corporate Bond Markets

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Author : Pipat Luengnaruemitchai
language : en
Publisher:
Release Date : 2005

An Anatomy Of Corporate Bond Markets written by Pipat Luengnaruemitchai and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Bank loans categories.

The objective of this paper is to discuss the key issues relating to the development of local corporate bond markets. We examine the requirements for local corporate bond market development, and compare and contrast experiences across both mature and emerging markets. We suggest that core aspects such as benchmarking, corporate governance and disclosure, credit risk pricing, the availability of reliable trading systems, and the development of hedging instruments are fundamental for improving the breadth and depth of corporate debt markets. The demand and supply of corporate bonds are dependent on factors such as the investor base, both local and foreign, and government policies toward the issuance process and associated costs, as well as the taxation regime. The sequencing of reforms is key to market development.

The Swedish Corporate Bond Market Challenges And Policy Recommendations

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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2024-04-04

The Swedish Corporate Bond Market Challenges And Policy Recommendations written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-04-04 with categories.

This report provides an assessment of the Swedish corporate bond market and policy recommendations to improve its functioning, drawing from detailed empirical analysis and in-depth interviews with market participants.

Bond Markets Analysis And Strategies Tenth Edition

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Author : Frank J. Fabozzi
language : en
Publisher: MIT Press
Release Date : 2021-12-07

Bond Markets Analysis And Strategies Tenth Edition written by Frank J. Fabozzi and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-12-07 with Business & Economics categories.

The updated edition of a widely used textbook that covers fundamental features of bonds, analytical techniques, and portfolio strategy. This new edition of a widely used textbook covers types of bonds and their key features, analytical techniques for valuing bonds and quantifying their exposure to changes in interest rates, and portfolio strategies for achieving a client’s objectives. It includes real-world examples and practical applications of principles as provided by third-party commercial vendors. This tenth edition has been substantially updated, with two new chapters covering the theory and history of interest rates and the issues associated with bond trading. Although all chapters have been updated, particularly those covering structured products, the chapters on international bonds and managing a corporate bond portfolio have been completely revised. The book covers the basic analytical framework necessary to understand the pricing of bonds and their investment characteristics; sectors of the debt market, including Treasury securities, corporate bonds, municipal bonds, and structured products (residential and commercial mortgage-backed securities and asset-backed securities); collective investment vehicles; methodologies for valuing bonds and derivatives; corporate bond credit risk; portfolio management, including the fundamental and quantitative approaches; and instruments that can be used to control portfolio risk.

Emerging Bond Markets In The Dynamic Asian Economies

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Author : Organisation for Economic Co-operation and Development
language : en
Publisher: OECD
Release Date : 1993

Emerging Bond Markets In The Dynamic Asian Economies written by Organisation for Economic Co-operation and Development and has been published by OECD this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.

Provides a detailed survey of a largely unexplored territory - the bond markets in the Dynamic Asian Economies of Hong Kong, Korea, Malaysia, Singapore, Taiwan and Thailand.

A License To Issue Anywhere

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Author : Svetlana Vtyurina
language : en
Publisher: International Monetary Fund
Release Date : 2017-07-11

A License To Issue Anywhere written by Svetlana Vtyurina and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-07-11 with Business & Economics categories.

This paper overviews patterns in bond issuance in local and external markets by firms in six large Latin American countries. Data suggest that despite rising issuance, local markets remain small and shallow in several countries. Nevertheless, since greater funding is available to many firms in both markets, we investigate the factors that may explain the firm’s choice on where to issue a bond. Using an unbalanced panel of firm and market-level indicators for years 1995-2015, we control for variables representing several theories of capital structure, and the results show that firm characteristics such as size and liquidity increase the likelihood of firms to issue externally. With respect to market characteristics, the market completeness hypothesis generates the most support, where market scale and depth are most important for the issuer’s choice of the market, suggesting that local markets will have to become deeper to draw more firms and investment.