[1]林 虎.我国公司债券违约处置:问题与对策[J].西安建筑科技大学学报(社会科学版),2020,39(05):39-46.[doi:10.15986/j.1008-7192.2020.05.006 ]
 LIN Hu.The Disposal Mechanism of Corporate Bond Default in China: Problems and Countermeasures[J].Journal of Xi'an University of Architecture & Technology(Social Science Edition),2020,39(05):39-46.[doi:10.15986/j.1008-7192.2020.05.006 ]
点击复制

我国公司债券违约处置:问题与对策()
分享到:

西安建筑科技大学学报(社会科学版)[ISSN:1008-7192/CN:61-1330/C]

卷:
39
期数:
2020年05期
页码:
39-46
栏目:
法学研究
出版日期:
2020-10-31

文章信息/Info

Title:
The Disposal Mechanism of Corporate Bond Default in China: Problems and Countermeasures
文章编号:
1008-7192( 2020)05-0039-08
作者:
林 虎
(西安财经大学 法学院,陕西 西安 710061)
Author(s):
LIN Hu
(Law School, Xi'an University of Finance and Economics,Xi'an 710061,China)
关键词:
公司债券违约 违约处置 债券持有人权益保护
Keywords:
corporate bond default: disposal of default bondholder's interests protection
分类号:
D922.287
DOI:
10.15986/j.1008-7192.2020.05.006
文献标志码:
A
摘要:
公司债券是公司从资本市场直接获取融资的重要工具。近年来,公司债券违约开始成为常态,但现行的债券违约处置方式不能满足当前需要,存在市场化处置较低、债券持有人保护机制不健全、偿债保障措施失灵和诉讼求偿不畅通等问题。通过分析我国公司债券违约处置的主要问题及致因,并在此基础上提出债券违约处置应以市场化和法治化相结合为主,同时完善公司偿债保障机制、债券持有人保护制度和司法救济路径等应对之策,以使我国公司债券市场健康发展。
Abstract:
Corporate bond is an important channel for a company to obtain financing directly from the capital market. In recent years, corporate bond default has become normal, but the existing method of bond default disposal can not meet the current needs, which leads to such problems as lower market disposal, imperfect protection mechanism of bondholders, failure of debt repayment safeguard measures and blocked litigation claims. Based on the analysis of the main problems and causes of the disposal of corporate bond default in China, the paper puts forward that the bond defaults should be disposed in both the market-oriented and rule-based process. At the same time, it is important to improve the safeguard mechanism of corporate debt repayment, the protection system of bondholders and the path of judicial relief, so as to develop China's corporate bond market healthily.

参考文献/References:

[1]李诗瑶,朱新华.我国债券违约处置机制分析[J].中国物价,2020(1):76-78.
[2]FAMA E F,FRENCH K R. Common risk factors in the returns on stocks and bonds[J]. Journal of Financial Economics, 1993, 33(1): 3-56.
[3]LARS-ALEXANDER K,LUKAS S.Investment-Based corporate bond pricing[J].Journal of Finance, 2014,69(6):2741-2776.
[4]CHIARA P, COSTANZA T. Capital requirements and business cycle regimes: forward-looking modelling of default probabilities[J].Journal of Banking & Finance, 2005, 29(12): 3121-3140.
[5]BHOJRAJ S, SENGUPTA P. Effect of corporate governance on bond ratings and yields: the role of institutional investors and outside directors[J].Journal of Business,2003,76(3):455-475.
[6]王海全,黄滨,姚林华.我国债券市场违约与债券投资者权益保护问题探析[J].新金融,2016(10):54-56.
[7]刘再杰,李艳.我国债券市场信用违约的特征、风险与应对措施[J].新金融,2016(10):49-53.
[8]冯果,段丙华.债券违约处置的法治逻辑[J].法律适用,2017(7):70-77.
[9]蒋莎莎.债券受托管理人的角色定位与功能发挥[J].西南金融,2018(12):69-76.
[10]宋亮.我国公司债券违约的法治化治理[J].湖北社会科学,2018(1):162-166.
[11]张艳丽,方兴劼.我国信用债违约的市场分析及违约债券处置研究[J].新金融,2019(5):54-59.
[12]南玉梅.公司债券内部增信的规则构建——以限制条款为核心[J].法商研究,2017,34(6):137-146.
[13]王海全,黄滨,姚林华.我国债券市场违约与债券投资者权益保护问题探析[J].新金融,2016(10):54-56.
[14]黄文涛.中国债券市场新格局新挑战[M].北京:中国金融出版社,2014.
[15]王瑞娟,姬江帆.债券违约求偿途径及相关问题探讨[J].债券,2015(9):56-63.
[16]赖小鹏,曹东坡.违约债券处置中存在的问题及改进途径[J].新金融,2020(4):38-43.
[17]窦鹏娟.新常态下我国公司债券违约问题及其解决的法治逻辑[J].法学评论,2016,34(2):143-153.
[18]洪艳蓉.《证券法》债券规则的批判与重构[J].中国政法大学学报,2015(3):60-74,158.
[19]陆巍峰,杜国庆,陈楠希.我国债券市场违约处置的现状及市场化处置方式探讨[J].金融市场研究,2016(2):51-61.

备注/Memo

备注/Memo:
收稿日期:2020-03-21
作者简介:林 虎(1992-),男,西安财经大学法学院硕士研究生,研究方向为经济法。E-mail:luckylinhu@126.com。
更新日期/Last Update: 1900-01-01