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Indexed by:会议论文

Date of Publication:2012-01-01

Included Journals:CPCI-SSH

Page Number:516-521

Key Words:Commercial Banks; Subordinated Debts; Market Discipline; Yield Spreads Model

Abstract:By constructing the yield spreads model, we have empirical analysis on the market discipline effect of subordinated debts in China. The result shows that pricing mechanism does not reasonable and issuing method is not major factors affecting debts yield spreads, subordinated debts investors are more concerned about the ability of commercial banks to cope with risk-taking. Only large commercial banks will choose to issue the subordinated debt and market discipline effect of the subordinated debts become more dominant accompany by the marketization of commercial banks in China.