The Default Intensity of China Municipal Bond
碩士 === 國立中山大學 === 財務管理學系研究所 === 104 === This paper will study the credit risk about China Municipal Bond. First, instead of measuring the credit risk of China Municipal Bond directly, measuring its default intensity will be a better method because the result has similar idea with interest rate which...
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ndltd-TW-104NSYS53050192017-07-30T04:41:12Z http://ndltd.ncl.edu.tw/handle/28047533398561648484 The Default Intensity of China Municipal Bond 中國地方債風險研究 Yueh-Ling Hsu 徐悅玲 碩士 國立中山大學 財務管理學系研究所 104 This paper will study the credit risk about China Municipal Bond. First, instead of measuring the credit risk of China Municipal Bond directly, measuring its default intensity will be a better method because the result has similar idea with interest rate which gives investor simpler way to look into the credit risk. Moreover, the data used will be macroeconomic data which also can examine the condition of China’s economy. Second, to do so, divide all variables into long-term pool and short-term pool by using a pooled mean group (PMG) estimator. Third, I will calculate the default intensity of China Municipal Bond, after dividing the parameters. Fourth, I also reexamine the Big Four stated-owned commercial banks’ financial statement especially for those highly-correlated with non-performing loans. The Big Four banks are known as Bank of China, China Construction Bank, Agricultural Bank of China and Industrial and Commercial Bank of China. Chang-Chiang Chin 秦長強 2016 學位論文 ; thesis 53 en_US |
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碩士 === 國立中山大學 === 財務管理學系研究所 === 104 === This paper will study the credit risk about China Municipal Bond. First, instead of measuring the credit risk of China Municipal Bond directly, measuring its default intensity will be a better method because the result has similar idea with interest rate which gives investor simpler way to look into the credit risk. Moreover, the data used will be macroeconomic data which also can examine the condition of China’s economy. Second, to do so, divide all variables into long-term pool and short-term pool by using a pooled mean group (PMG) estimator. Third, I will calculate the default intensity of China Municipal Bond, after dividing the parameters. Fourth, I also reexamine the Big Four stated-owned commercial banks’ financial statement especially for those highly-correlated with non-performing loans. The Big Four banks are known as Bank of China, China Construction Bank, Agricultural Bank of China and Industrial and Commercial Bank of China.
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author2 |
Chang-Chiang Chin |
author_facet |
Chang-Chiang Chin Yueh-Ling Hsu 徐悅玲 |
author |
Yueh-Ling Hsu 徐悅玲 |
spellingShingle |
Yueh-Ling Hsu 徐悅玲 The Default Intensity of China Municipal Bond |
author_sort |
Yueh-Ling Hsu |
title |
The Default Intensity of China Municipal Bond |
title_short |
The Default Intensity of China Municipal Bond |
title_full |
The Default Intensity of China Municipal Bond |
title_fullStr |
The Default Intensity of China Municipal Bond |
title_full_unstemmed |
The Default Intensity of China Municipal Bond |
title_sort |
default intensity of china municipal bond |
publishDate |
2016 |
url |
http://ndltd.ncl.edu.tw/handle/28047533398561648484 |
work_keys_str_mv |
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