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论文类型：会议论文

发表时间：2014-01-01

收录刊物：CPCI-SSH

页面范围：165-170

关键字：commercial banks; voluntary disclosure; market discipline; subordinated debt

摘要：Market discipline is one of the three pillars of Basel II. The information disclosure is the premise of market discipline. Voluntary disclosure, is an important source of information on the role of market discipline. In order to explore the effects of commercial banks' voluntary disclosure on market discipline in China, the paper examines the relationship between the level of Chinese listed commercial banks' voluntary disclosure and spreads of subordinated debt issued by the banks. The empirical results show that the effects of banks' voluntary disclosure on market discipline in China really exist and the effects are not obviously different among different banks.