企业债券融资与资本市场发展选读.docx

IIAbstract Enterprises finance through Corporate Bonds not only provides the financing way, but also enhances its value. Corporate Bonds provide financial instruments for the capital market and the foundation for the capital market property price. Corporate Bonds also provide a reliable transaction method for the capital market to relief risks, give the tool for the financing, promote the capital market development greatly. As a result, enterprise’s financing way has relation to the development of the enterprises,it also relates to the development of the financial market, especial the capital market. I will analysis the financing of corporate bonds and the development of capital market from two angles in this article. There are corporate financing and corporate bonds’ function to the capital market. Firstly, I will give the concept of corporate bonds, its difference from the enterprise bonds, its origin and development. Secondly, I will carry on the summary in this foundation from related domestic and foreign theory about corporate bonds and the development of capital market. Thirdly, I will analyses the enterprise bonds’ status and function in capital market. The enterprise bond and the national debt, the stock constitutes the capital market main finance tool together. They compose the different risk rank the investment tool. In the mature capital market, the enterprise bond market is the most important constituent. In the developed countries, the enterprise bonds are not only financing method, it also the innovation vigor the financial tool. The development of enterprise bonds is benefit to the disperser of capital market non- system risk, provides the foundation product for the financial innovation, enhance the capital market’s efficiency. It also provides capital funds and can promote the capital market development effectively. Looki