{"id":{"repo_id":"mit","oai_identifier":"oai:dspace.mit.edu:1721.1/90219"},"canonical_url":"https://search.dev.ndltd.org/etd/mit/oai:dspace.mit.edu:1721.1/90219","repository":{"repo_id":"mit","name":"MIT","base_url":"https://dspace.mit.edu/oai/request"},"display":{"title":"Determinants of credit spreads on U.S. dollar-denominated Asian corporate bonds","abstract":"This study investigates determinants of credit spreads on U.S. dollar-denominated Asian corporate bonds. Using a country-level unbalanced panel dataset of Asian corporate bond indices, I find that global factors including U.S. corporate bond spreads and the U.S. long-term Treasury yield are main determinants of Asian corporate bond spreads. Principal component analysis also demonstrates that only a few variables account for the variation in Asian corporate bond spreads. Moreover, global factors have the greatest impact on credit spreads in the financial sector and the smallest impact on credit spreads in the utility sector. Finally, my results show that Asian corporate credit spreads respond more substantially to the U.S. monetary easing than to the U.S. monetary tightening, and they also react more strongly to widening U.S. credit spreads than to narrowing U.S. credit spreads.","abstract_html":"This study investigates determinants of credit spreads on U.S. dollar-denominated Asian corporate bonds. Using a country-level unbalanced panel dataset of Asian corporate bond indices, I find that global factors including U.S. corporate bond spreads and the U.S. long-term Treasury yield are main determinants of Asian corporate bond spreads. Principal component analysis also demonstrates that only a few variables account for the variation in Asian corporate bond spreads. Moreover, global factors have the greatest impact on credit spreads in the financial sector and the smallest impact on credit spreads in the utility sector. Finally, my results show that Asian corporate credit spreads respond more substantially to the U.S. monetary easing than to the U.S. monetary tightening, and they also react more strongly to widening U.S. credit spreads than to narrowing U.S. credit spreads.","abstract_has_math":false,"creators":["Jo, Sungmin"],"institution":"Massachusetts Institute of Technology","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":"Sloan School of Management.","school":null,"contributors":[],"advisors":["Deborah Lucas."],"committee_chairs":[],"committee_members":[],"year":2014,"date_issued":"2014","date_published":"2014","updated_at":"2026-07-22T22:20:59Z","subjects":["Sloan School of Management."],"languages":["eng"],"rights":["M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."],"rights_urls":["http://dspace.mit.edu/handle/1721.1/7582"],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/1721.1/90219","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["Deborah Lucas."]},{"key":"dc:contributor.department","label":"Department","values":["Sloan School of Management."]},{"key":"dc:contributor.other","label":"Dc Contributor Other","values":["Sloan School of Management."]},{"key":"dc:creator","label":"Author","values":["Jo, Sungmin"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2014-09-19T21:46:49Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2014-09-19T21:46:49Z"]},{"key":"dc:date.issued","label":"Date","values":["2014"]},{"key":"dc:publisher","label":"Institution","values":["Massachusetts Institute of Technology"]},{"key":"dc:type","label":"Dc Type","values":["Thesis"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Sloan School of Management."]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["eng"]},{"key":"dc:rights","label":"Dc Rights","values":["M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."]},{"key":"dc:rights.uri","label":"Rights URI","values":["http://dspace.mit.edu/handle/1721.1/7582"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/1721.1/90219"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2014.","Cataloged from PDF version of thesis.","Includes bibliographical references (pages 34-35)."]},{"key":"dc:description.abstract","label":"Abstract","values":["This study investigates determinants of credit spreads on U.S. dollar-denominated Asian corporate bonds. Using a country-level unbalanced panel dataset of Asian corporate bond indices, I find that global factors including U.S. corporate bond spreads and the U.S. long-term Treasury yield are main determinants of Asian corporate bond spreads. Principal component analysis also demonstrates that only a few variables account for the variation in Asian corporate bond spreads. Moreover, global factors have the greatest impact on credit spreads in the financial sector and the smallest impact on credit spreads in the utility sector. Finally, my results show that Asian corporate credit spreads respond more substantially to the U.S. monetary easing than to the U.S. monetary tightening, and they also react more strongly to widening U.S. credit spreads than to narrowing U.S. credit spreads."]},{"key":"dc:description.degree","label":"Dc Description Degree","values":["M.B.A."]},{"key":"dc:title","label":"Title","values":["Determinants of credit spreads on U.S. dollar-denominated Asian corporate bonds"]}]}],"canonical_facts":{"dc:contributor.advisor":["Deborah Lucas."],"dc:contributor.department":["Sloan School of Management."],"dc:contributor.other":["Sloan School of Management."],"dc:creator":["Jo, Sungmin"],"dc:date.accessioned":["2014-09-19T21:46:49Z"],"dc:date.available":["2014-09-19T21:46:49Z"],"dc:date.issued":["2014"],"dc:description":["Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2014.","Cataloged from PDF version of thesis.","Includes bibliographical references (pages 34-35)."],"dc:description.abstract":["This study investigates determinants of credit spreads on U.S. dollar-denominated Asian corporate bonds. Using a country-level unbalanced panel dataset of Asian corporate bond indices, I find that global factors including U.S. corporate bond spreads and the U.S. long-term Treasury yield are main determinants of Asian corporate bond spreads. Principal component analysis also demonstrates that only a few variables account for the variation in Asian corporate bond spreads. Moreover, global factors have the greatest impact on credit spreads in the financial sector and the smallest impact on credit spreads in the utility sector. Finally, my results show that Asian corporate credit spreads respond more substantially to the U.S. monetary easing than to the U.S. monetary tightening, and they also react more strongly to widening U.S. credit spreads than to narrowing U.S. credit spreads."],"dc:description.degree":["M.B.A."],"dc:identifier.uri":["http://hdl.handle.net/1721.1/90219"],"dc:language.iso":["eng"],"dc:publisher":["Massachusetts Institute of Technology"],"dc:rights":["M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission."],"dc:rights.uri":["http://dspace.mit.edu/handle/1721.1/7582"],"dc:subject":["Sloan School of Management."],"dc:title":["Determinants of credit spreads on U.S. dollar-denominated Asian corporate bonds"],"dc:type":["Thesis"]},"updated_at":"2026-07-22T22:20:59Z"}