Cui, Changfeng; Liu, Hailong; Zhang, Yi - In: China Finance Review International 3 (2013) June, pp. 250-263
, there are two kinds of different effects that support the changing of credit spread: asset allocation effect and credit risk … turnover of stock market. Findings – The authors find it is driven by asset allocation effect in most time and by credit risk … discuss the asset allocation effect in the Chinese bond market and introduce the stock market variables and bank credit …