scholarly journals Corporate bonds market development in Poland (2009-2015)

Author(s):  
Babczuk Arkadiusz ◽  
Kachniarz Marian ◽  
Piepiora Zbigniew
2017 ◽  
Vol 2 (2) ◽  
pp. 16
Author(s):  
Dr. David W. Wanyama

Purpose: The purpose of this study was to analyze how stock market development influences the growth of corporate bond market in Kenya.Methodology: The study used descriptive and causal research designs.  Secondary data was used. The sample of the study consisted of daily and monthly time series covering six years beginning January 2009 to December 2014. Unit root tests using Augmented Dickey-Fuller (ADF) and Phillips-Perron tests were done. The study used Eviews econometric software to facilitate empirical analysis of data.Results: Regression of coefficients results shows that Stock market size and corporate bonds are positively and significant related (r=0.029, p=0.002), stock market liquidity and corporate bonds are positively and significant related (r=8.291, p=0.0008), Stock Market Concentration and corporate bonds are positively and significant related (r=0.014, p=0.017). Regression of coefficients results shows that Stock Market Volatility and corporate bonds are positively and significant related (r=0.000023, p=0.0001).Unique Contribution to Theory, Practice and Policy: This study recommends study recommends for Policy makers to come up with measures to enhance the liquidity of the stock market which will in turn encourage investment in corporate bonds. The study recommends that concerted efforts should be made to improve market concentration in the corporate bonds market so that it can operate optimally. Policy makers should be aware of and monitor the level of stock market volatility that is appropriate for promoting the growth of the corporate bond markets and indeed other financial markets. Policy makers in Kenya should find ways and means of increasing the size of the stock market to reap the aforementioned benefits.


2020 ◽  
Vol 13 (12) ◽  
pp. 306
Author(s):  
Jakub Kubiczek

The Polish corporate bond market does not have a history as long as the American one, however, it is characterized by stable annual growth. The growth of the market is related to the growth of its liquidity and is determined by a number of entities, both on the demand and the supply side. The aim of the study was to present the structure of the Catalyst market and bond trading in Poland. The study also discusses the market’s development and identifies the factors that determine this development. Based on reports concerning trading on the Catalyst market, a huge growth was noticed in the 10 years since the market’s establishment. Forecasts indicate that the growth will continue. The outbreak of the SARS-CoV-2 pandemic will cause the market development to be slower than the model’s forecast, although the data for the first nine months of 2020 suggest that the upward trend will be maintained. Moreover, for the market to continue to thrive, a rating must be compulsory for corporate bond issuers. A comparison of the ratings of individual issuers enables investors to analyze the risk and profitability of corporate bonds in an easier way.


2017 ◽  
pp. 140-147
Author(s):  
A. Yakovlev

The paper analyzes confrontation concerning continuation of market reforms between main groups in Chinese elite after Tiananmen in 1989 and collapse of USSR in 1991. It considers in details the ‘southern tour’ of Deng Xiaoping in early 1992 and its impact on the balance of interests in Chinese elites before the 14th party congress. The paper shows also the specifics of Chinese reforms which combine market development with creation of rents for main elite groups.


2018 ◽  
Vol 44 (2) ◽  
pp. 56-65
Author(s):  
M. E. Bondarchuk ◽  
◽  
V. V. Kozlova ◽  

1999 ◽  
Vol 10 (4) ◽  
pp. 46-55
Author(s):  
Leon Tomesen ◽  
Alan Gibson

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