000			01805nam a2200217 4500
999			_c49786 _d49786
003			OSt
005			20180513144046.0
008			180513b ||||| |||| 00| 0 eng d
100			_aThakur, Bhanu.Pratap Sing., _931603
245			_aDeterminants of corporate credit spread: evidence from India
300			_a59-74 p.
520			_aUnderstanding the behavior of corporate credit spread is of paramount importance to understand and manage risk in fixed income securities. This study examines the determinants of corporate credit spread in Indian bond market. By adopting a panel data approach, the study estimates a fixed-effects regression equation to analyze the determinants of corporate credit spread in Indian bond market. The variables used in the study are motivated from structural models and macroeconomic variables and include interest rate variables, stock market variables, inflation and economic growth. The study found that the interest rate variables, stock market variables and inflation are the key variables in explaining the level of corporate credit spread in Indian bond market. The results are robust to the traditional approach of using aggregate yield spread for the whole sample and also when the sample was divided using different industrial classification. Overall, the study highlights the importance of stable interest rate and inflationary environment for the development of Indian corporate bond market.
653			_aCredit spread determinants
653			_aCredit risk
653			_a Indian bond market
653			_aPanel data analysis
700			_aKannadhasan, M. _931604
700			_aGoyal, Vinay _931605
773	0		_029297 _970506 _aCHAKRABARTI, BHASKAR _dINDIAN INSTITUTE OF MANAGEMENT CALCUTTA CALCUTTA _o5558731 _tDECISION _x0304-0941
942			_2ddc _cSUM-PRO