摘要
我国公司债券从2007年《公司债券发行试点办法》颁布后才正式发行,之后我国公司债券发行呈高速发展的态势。本文选取已发行公司债券的企业作为研究样本,从公司治理的角度,研究了公司债券对公司治理效应的影响。实证研究表明,公司债券具有一定的管理者激励和约束作用,并且具有较强的破产威胁作用,但是信号传递作用并不明显。针对以上研究结果,本文提出进一步推进我国公司债市场的发展和完善我国偿债保障机制的建议。
China corporate bonds from the 2007 ＂Trial Measures for issuance of corporate bonds＂ issued after the promulgation of the official, China′s corporate bond issuance was after the rapid development of the situation. This article has been selected as the issuance of corporate bonds, corporate research sample, from the perspective of corporate governance, corporate bonds of the effect on corporate governance. Empirical research shows that corporate bonds have some encouragement and a constraint manager, and has a strong role in the bankruptcy threat, but the role of information transfer is not obvious. To solve the above findings, further promoting China′s corporate bond market development and improve our debt protection mechanism.
出处
《科学．经济．社会》
CSSCI
2011年第1期54-59,64,共7页
Science Economy Society
关键词
公司债券
公司治理
治理效应
Corporate bonds
corporate governance
Effect of governance
