信用利差的影响因素文献综述

现有的研究表明,影响信用利差的因素是多方面的,既包括信用风险因素,也包括宏观因素、股票市场表现等非信用风险因素。文章对比分析了信用利差量化研究的典型方法,并从信用风险因素、宏观因素、股票市场影响等几个角度综述了对信用利差影响因素的主要文献。通过对比分析,文章发现上述因素对不同等级债券的影响程度存在一定程度的差异。

Literature Review of Determinants of Credit Spread

Existing papers show that there are a great number of factors affecting credit spread, including credit risk factors, as well as non-credit risk factors, like factors of macroeconomics and stock market The paper compares and analyzes the typical method of qualifying credit spread and summarizes the researches on the determinants of credit risk, in the aspects of elements from credit risk, macroeconomics, stock market, and so on, The result reveals that the determinants above have differentiated influences on bonds of different ratings.