Broadening The Offering Choice of Corporate Bonds In Emerging Markets: Cost-Effective Access To Debt Capital
The development of corporate bond markets has been constrained in many emerging economies, partly because the regulatory model is implicitly designed for stand-alone public offerings. Corporate bonds are intrinsically more suitable for non-retail investors than for retail investors. Nonetheless, the...
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| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2008
|
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | The development of corporate bond markets has been constrained in many emerging economies, partly because the regulatory model is implicitly designed for stand-alone public offerings. Corporate bonds are intrinsically more suitable for non-retail investors than for retail investors. Nonetheless, the prevailing regulatory model puts an excessive emphasis on disclosure and investor protection as well as government oversight, regardless of targeted investors. Such a non-differentiating regulatory approach disconnects issuers from investors by considerably raising opportunity costs to issuers. Broadening the choice of offering methods would lower corporate bond issuance costs, thereby allowing more issuers to finance their investments with bond issues. Additional forms of offerings are traditional private placements, institutional offerings, and shelf registration facilitated by integrated disclosure |
| Beschreibung: | 1 Online-Ressource (53 Seiten)) |
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| spelling | Endo, Tadashi Verfasser aut Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital Endo, Tadashi Washington, D.C The World Bank 2008 1 Online-Ressource (53 Seiten)) txt rdacontent c rdamedia cr rdacarrier The development of corporate bond markets has been constrained in many emerging economies, partly because the regulatory model is implicitly designed for stand-alone public offerings. Corporate bonds are intrinsically more suitable for non-retail investors than for retail investors. Nonetheless, the prevailing regulatory model puts an excessive emphasis on disclosure and investor protection as well as government oversight, regardless of targeted investors. Such a non-differentiating regulatory approach disconnects issuers from investors by considerably raising opportunity costs to issuers. Broadening the choice of offering methods would lower corporate bond issuance costs, thereby allowing more issuers to finance their investments with bond issues. Additional forms of offerings are traditional private placements, institutional offerings, and shelf registration facilitated by integrated disclosure Online-Ausg Capital markets Corporate bond Corporate bonds Corporate governance Debt Debt Markets Debt capital Development of corporate bond markets Emerging Markets Emerging economies Emerging markets Finance and Financial Sector Development Mutual Funds Private Sector Development Public offering Endo, Tadashi Sonstige oth Endo, Tadashi Broadening The Offering Choice of Corporate Bonds In Emerging Markets http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4655 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Endo, Tadashi Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital Capital markets Corporate bond Corporate bonds Corporate governance Debt Debt Markets Debt capital Development of corporate bond markets Emerging Markets Emerging economies Emerging markets Finance and Financial Sector Development Mutual Funds Private Sector Development Public offering |
| title | Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital |
| title_auth | Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital |
| title_exact_search | Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital |
| title_exact_search_txtP | Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital |
| title_full | Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital Endo, Tadashi |
| title_fullStr | Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital Endo, Tadashi |
| title_full_unstemmed | Broadening The Offering Choice of Corporate Bonds In Emerging Markets Cost-Effective Access To Debt Capital Endo, Tadashi |
| title_short | Broadening The Offering Choice of Corporate Bonds In Emerging Markets |
| title_sort | broadening the offering choice of corporate bonds in emerging markets cost effective access to debt capital |
| title_sub | Cost-Effective Access To Debt Capital |
| topic | Capital markets Corporate bond Corporate bonds Corporate governance Debt Debt Markets Debt capital Development of corporate bond markets Emerging Markets Emerging economies Emerging markets Finance and Financial Sector Development Mutual Funds Private Sector Development Public offering |
| topic_facet | Capital markets Corporate bond Corporate bonds Corporate governance Debt Debt Markets Debt capital Development of corporate bond markets Emerging Markets Emerging economies Emerging markets Finance and Financial Sector Development Mutual Funds Private Sector Development Public offering |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4655 |
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