| With the increasing maturity of the international capital markets, Corporate bond financing has become an important channel for corporate financing, The company is also gradually expand the scale of bond financing, Scale has significantly increased, the proportion of in the financing structure is also gradually increased. Long ago, Financing channels for Chinese enterprises is still a very serious simplification, mainly two kinds of bank loans and equity financing, Lagging behind the development of bond financing, the serious imbalance in the proportion of financing structure, the development of our country's financial markets, a weak link in, seriously affected the efficiency of corporate financing, development Corporation bond financing to solve the difficult problem of corporate finance in China is very necessary, in this paper, the domestic bond market as a research based, foreign market development experience in a positive referral, which explore in depth the issue to the entire financial system. From the macro perspective, study the corporate bonds in status and role entire financial system, the problems in the development of a careful analysis, open up China's corporate bond market development ideas put forward targeted suggestions and comments.Research of China's corporate bond market development situation, the analysis of financing environment for domestic enterprises. In particular, and foreign developed countries, a comparison of the corporate bond market.Dentified the main obstacle to the development of China's corporate bond market, In the writing process is mainly applied the macro-and micro-behavior of the environment and the method of combining, through macro-qualitative and quantitative micro-combined to make the article more representative of the solution and the feasibility. Through macro-qualitative and quantitative micro-combined to make the article more representative, on the research ideas put forward their views, describing the importance of the corporate bond financing.This article mainly addressed the issue of China's corporate finance and balance of the financing structure as the main objective. Rose through the theory in practice, Vigorous development of China's corporate bond is the key to address this goal. By drawing on relevant experience abroad, according to their national conditions as well as through empirical study and solve the problem of financing in China. Text is divided into six chapters, The first and second chapter describes the system organization and financing of foreign-related theory。Expounded the theory of finance as far as taking a step forward from the improvement process, China's corporate bond financing for the development of a strong theoretical foundation, actively learn from the development experience of foreign countries introduced the company's capital structure theory, Information Asymmetry Theory. Pecking Order Theory and the cost theory. To the question behind the research provides a strong theoretical foundation. The third, fouth and fivth chapters are a core part of this article. The third focuses on the classification of corporate bonds in China. Learn from the United States, Japan and other corporate debt market experience of more developed countries. To indicate the direction of China's financing structure. Chapter IV gray relational model checking mainly affect the scale of development of China's corporate bond Analysis of the Factors. From the quantitative point of view of the article is more convincing. The fivth chapter through the development of China's corporate bond market conditions, the analysis of the financing environment for domestic enterprises. I dentified the development of China's corporate bond market. China's corporate bond market from the distribution system, ratings rates to the market, secondary market liquidity and trading system has made the analysis of the corresponding. On issues related to above solution to the views. The final chapter summarizes the full text of the main right and Prospects of China's corporate bond development prospects. |
