Skip to main content

Research Repository

Advanced Search

What promotes greater use of the corporate bond market? A study of the issuance behaviour of firms in Asia

Mizen, Paul; Tsoukas, Serafeim

What promotes greater use of the corporate bond market? A study of the issuance behaviour of firms in Asia Thumbnail


Authors

Paul Mizen

Serafeim Tsoukas



Abstract

This paper investigates bond market development in Asia by exploring the determinants of firms’ decisions to issue public debt in a range of Asian economies. Using a novel database covering the period 1995 to 2007, we use comparable micro level panel of nine countries—China, Hong Kong SAR, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan, and Thailand—to explore factors that promote bond issuance by firms. We control for firm characteristics and market features such as bond market depth and liquidity; we also consider supra-national policy initiatives to improve bond market function. Our paper demonstrates that regional initiatives have been an important step towards greater bond issuance by firms in Asia, mostly by fostering market deepening and improving liquidity.

Citation

Mizen, P., & Tsoukas, S. (2014). What promotes greater use of the corporate bond market? A study of the issuance behaviour of firms in Asia. Oxford Economic Papers, 66(1), 227-253. https://doi.org/10.1093/oep/gpt005

Journal Article Type Article
Acceptance Date Mar 1, 2013
Online Publication Date Mar 4, 2013
Publication Date 2014-01
Deposit Date Jul 13, 2016
Publicly Available Date Mar 29, 2024
Journal Oxford Economic Papers
Print ISSN 0030-7653
Electronic ISSN 1464-3812
Publisher Oxford University Press
Peer Reviewed Peer Reviewed
Volume 66
Issue 1
Pages 227-253
DOI https://doi.org/10.1093/oep/gpt005
Keywords Asia, Corporate bond market
Public URL https://nottingham-repository.worktribe.com/output/719989
Publisher URL http://oep.oxfordjournals.org/content/66/1/227
Additional Information E22, F32, G32.

Files





You might also like



Downloadable Citations