发展公司债券市场是促进直接融资发展的有效举措

• 作 者: 兰邦华 尹中立
• 机 构: 特华投资控股有限公司博士后工作站\\r\\r\\r\\r\\r\\r\\r\\r\\n,中国社会科学院金融研究所
• 出 处: 中国金融
• 发表日期: 2004年期
• 关键词: 公司债券市场 融资发展 融资券 股票市场 融资比重 我国债券市场 期限结构 企业债券市场 银行间接融资 企业融资结构

“发展资本市场,扩大直接融资比重”早已成为我国既定的金融发展战略,但从我国金融改革的实践看,扩大直接融资比重的努力一直成效甚微,通过银行间接融资的比重一直高居不下。笔者认为,导致这种局面的重要原因是我们忽视公司债券市场的发展,片面地将发展资本市场理解成为发展股

“The development of capital markets and the expansion of the proportion of direct financing” has long been an established strategy for financial development in our country. However, from the practice of China's financial reform, efforts to expand the proportion of direct financing have been very ineffective and the proportion of indirect financing through banks has been consistently high. The author believes that the important reason for this situation is that we ignore the development of the corporate bond market and unilaterally understand the development of the capital market as a development unit