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论文类型：会议论文

发表时间：2012-01-01

收录刊物：CPCI-SSH

页面范围：516-521

关键字：Commercial Banks; Subordinated Debts; Market Discipline; Yield Spreads Model

摘要：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.