文章基本信息

标题：Liquidity and Credit Risk in the Emerging Financial Markets
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作者：Amir Saadaoui ; Younes Boujelbene
期刊名称：Public Finance Quaterly
印刷版ISSN：0031-496X
出版年度：2014
卷号：59
期号：2
页码：207-219
出版社：State Audit Office of Hungary
摘要：In this paper, we examine the relationship between liquidity, liquidity risk and credit risk involved in emerging sovereign bonds after the subprime crisis period. In our study, we concentrate on the effect of liquidity and credit risk on liquidity in the emerging bond markets. Control variables, asymmetric information, amount outstanding, coupon, age and interest rate van provide assistance for a better understanding of this relationship. To explain the role of liquidity and credit risk in liquidity, we use panel data extracted from Datastream. Our result show that liquidity risk has a stronger impact on the liquidity of the bond market than credit risk.
关键词：liquidity; credit risk; liquidity risk; emerging bond markets