The impact of monetary policy on corporate bonds in India

Sensarma, Rudra; Bhattacharyya, Indranil

doi:10.1016/j.jpolmod.2016.03.004

Cited by 8 publications

(3 citation statements)

References 20 publications

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“…Research suggests that reducing interest rates for SME loans can positively impact their ability to secure external funding. For example, Domonkos et al (2023); Sensarma & Bhattacharyya (2016)found that interest rate reductions can increase SMEs' credit demand and lead to higher investment rates, benefiting both the SME sector and the economy as a whole. On other hand, Shui (2023) provides insight into the negative impact of credit constraints on employment in…”

Section: Literature Reviewmentioning

confidence: 99%

The Effects of Fiscal Policy and Monetary Policy on Borrowing Costs and Credit Access for SMEs: An Empirical Study

Zakaria

2024

ATESTASI

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The objective of this study is to investigate the impact of fiscal policies (FP) on borrowing costs and credit access (BCAC) for SMEs, considering the role of monetary policy (MP) as a the second independent factor. This research aims to understand more deeply how fiscal and monetary policies can be utilized to support growth and access to finance for SMEs, as well as identify remaining barriers to access to finance. Through comprehensive analysis, this study is expected to provide effective policy recommendations to improve access to credit for SMEs, which in turn can support economic growth and job creation. This study adopts a quantitative research design using statistical analysis to examine the impact of fiscal policies on borrowing costs and credit access for Small and Medium Enterprises (SMEs). The analysis will be conducted using the SMARTPLS 3.0. Sample size based on valuable samples are 120 of SME. The sampling technique used in this study will be purposive sampling. This approach will involve selecting SMEs that meet specific criteria, such as size, sector, and eligibility for relevant government programs or incentives. Result of this study state Fiscal Policy (FP) and Monetary Policy (MP) have a significant effect on Borrowing Costs and Access to Credit (BCAC).

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Section: Literature Reviewmentioning

confidence: 99%

The Effects of Fiscal Policy and Monetary Policy on Borrowing Costs and Credit Access for SMEs: An Empirical Study

Zakaria

2024

ATESTASI

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“…Hawtrey (1929) [43] argued that central bank uses short-term interest for implementing MP and short-term rates have little effect on long-term rate. Research on Indian G-Secs market by Sahoo and Bhattacharyya (2012) [67] found that exchange rate changes affect slope of the YC, while MP significantly affects level and curvature of YC. Kanjilal (2011) [48] found that the latent factors to macroeconomic factors significantly affect the YC, but YC has an insignificant effect on the macroeconomic variables.…”

Section: Literature On Yield Curvementioning

confidence: 99%

Treasury yield in India: A theoretical framework

Rangotra¹

2022

Int. J. Finance Manage.

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The objective of this study is to identify and integrate relevant literature on the treasury yield also called government securities (G-Secs) yield to underpin the relevant research framework in India. Specifically, this paper scrutinizes the relevant literature on factors affecting government securities yield in the Indian G-Secs market. The integrated efforts to synthesize varied literature on the G-Secs market, G-Secs yield, factors influencing G-Secs yield, and yield curve (YC) will help the researchers in the G-Secs market to understand the research framework.

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“…Corporate bonds are the key component of the modern financial sector as they play a crucial role in the long-term financing of the economy (Sensarma and Bhattacharyya 2016). Issues of corporate bonds can be used to obtain capital to finance a company's development, current operations, and restructuration of its debt (Kołosowska and Buszko 2012).…”

Section: The Beginning Of the Corporate Bond Market In Poland And Its...mentioning

confidence: 99%

Corporate Bond Market in Poland—Prospects for Development

Kubiczek

2020

JRFM

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The Polish corporate bond market does not have a history as long as the American one, however, it is characterized by stable annual growth. The growth of the market is related to the growth of its liquidity and is determined by a number of entities, both on the demand and the supply side. The aim of the study was to present the structure of the Catalyst market and bond trading in Poland. The study also discusses the market’s development and identifies the factors that determine this development. Based on reports concerning trading on the Catalyst market, a huge growth was noticed in the 10 years since the market’s establishment. Forecasts indicate that the growth will continue. The outbreak of the SARS-CoV-2 pandemic will cause the market development to be slower than the model’s forecast, although the data for the first nine months of 2020 suggest that the upward trend will be maintained. Moreover, for the market to continue to thrive, a rating must be compulsory for corporate bond issuers. A comparison of the ratings of individual issuers enables investors to analyze the risk and profitability of corporate bonds in an easier way.

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The impact of monetary policy on corporate bonds in India

Cited by 8 publications

References 20 publications

The Effects of Fiscal Policy and Monetary Policy on Borrowing Costs and Credit Access for SMEs: An Empirical Study

The Effects of Fiscal Policy and Monetary Policy on Borrowing Costs and Credit Access for SMEs: An Empirical Study

Treasury yield in India: A theoretical framework

Corporate Bond Market in Poland—Prospects for Development

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