What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia
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...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Published: |
Oxford University Press
2014
|
| Subjects: | |
| Online Access: | https://eprints.nottingham.ac.uk/34881/ |
| _version_ | 1848794953374760960 |
|---|---|
| author | Mizen, Paul Tsoukas, Serafeim |
| author_facet | Mizen, Paul Tsoukas, Serafeim |
| author_sort | Mizen, Paul |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-14T19:24:23Z |
| format | Article |
| id | nottingham-34881 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| last_indexed | 2025-11-14T19:24:23Z |
| publishDate | 2014 |
| publisher | Oxford University Press |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-348812020-05-04T16:40:19Z https://eprints.nottingham.ac.uk/34881/ What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia Mizen, Paul Tsoukas, Serafeim 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. Oxford University Press 2014-01-01 Article PeerReviewed Mizen, Paul and Tsoukas, Serafeim (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. ISSN 1464-3812 Asia Corporate bond market http://oep.oxfordjournals.org/content/66/1/227 doi:10.1093/oep/gpt005 doi:10.1093/oep/gpt005 |
| spellingShingle | Asia Corporate bond market Mizen, Paul Tsoukas, Serafeim What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia |
| title | What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia |
| title_full | What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia |
| title_fullStr | What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia |
| title_full_unstemmed | What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia |
| title_short | What promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in Asia |
| title_sort | what promotes greater use of the corporate bond market?: a study of the issuance behaviour of firms in asia |
| topic | Asia Corporate bond market |
| url | https://eprints.nottingham.ac.uk/34881/ https://eprints.nottingham.ac.uk/34881/ https://eprints.nottingham.ac.uk/34881/ |