Research On The Risk Management Of Enterprise Bond Market

In developed countries, the issuance of enterprise bonds is the main form of finance, and it isan important tool to nurture and develop the capital market. Thus, enterprises bond market hasbecome an important component of the securities market. Study the structure of China enterprisebond market, we can find that stock market is bigger than enterprise bond market, which greatlyconstrains healthy development of Chinese capital market and the whole market. Party's 3d 16conference notes that:" in the process of developing capital market, we should actively explorethe bond market, improve and standardize the procedures for issuing and expand the size of theenterprise bond issuance. Clearly, vigorous development of the bond market is our government'spolicy trends.During expanding enterprise bond market development scale, we have no alternative but tosee to its latent risk. Enterprise bond market itself is imperfect and it has to repay principal andinterest, so its risk is higher than stock market and national debt market. Reviews thedevelopment course of our country stock market, we can see if risk management lag, the blinddevelopment may create the bad consequence. So how to manage the financial risk of bondmarket and absorbing the experience of stock market and national debt market is very important.The establishment of an efficient and rational market structure is the purpose of this researchpapers.The paper elaborated the risk in which the enterprise bond market development may face. Onthis basis, this paper emphatically analyzes the special risk we may face in the currenteconomical switcher time and proposes the feasible risk management measure to bridge theshortage of exiting literature. These approaches and measures mainly conclude that: bridgeinstitutional deficiencies resolve macro risks;improve the market mechanism, decentralizedfinancial risks and monitor system and guard against financial risks. Through building acomprehensive risk management mechanism, resolve the risks of enterprise bond market. Wishthis paper may devote to the development of enterprise bond market.