无刚性兑付情况下企业债券违约防范——以东北特钢债券违约为例

发布时间：2018-03-01 13:20

  本文关键词： 债券违约 刚性兑付 东北特钢　出处：《财会通讯》2017年14期 　论文类型：期刊论文

【摘要】：长期以来,我国债券市场保持稳定发展的态势,发行债券若到期即使无法归还也能靠政府或银行的刚性兑付按时还本付息,对于国有企业发行债券更是如此。然而,东北特钢自今年3月以来出现了连续9只债券违约事件,违约金额高达近58亿。最终,资不抵债的东北特钢只能进行破产重整。此事件在我国债券市场上掀起轩然大波。本文将通过梳理东北特钢债券违约案例的一系列情况,从刚性兑付的视角切入,探讨企业如何依靠自身避免债券违约。
[Abstract]:For a long time, the bond market in our country has maintained a steady development trend. If bonds are issued to maturity, even if they cannot be returned, they can still pay their principal and interest on time by the rigid payment of the government or the bank. This is especially true for the issuance of bonds by state-owned enterprises. Northeast Special Steel has defaulted on nine bonds since March this year, with a total default amount of nearly 5.8 billion. The insolvent Northeast Special Steel can only go through bankruptcy reorganization. This incident has caused a great uproar in China's bond market. This article will cut into the perspective of rigid repayment by combing a series of default cases of Northeast Special Steel bonds. Explore how companies rely on themselves to avoid bond defaults.
【作者单位】： 中南财经政法大学会计学院;
【分类号】：F426.31;F832.51
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本文编号：1552119