An empirical study of blockchain‐based models of interest margin of secondary capital bond issuance in the internet of things environment

Abstract

AbstractThe emergence of blockchain technology and the Internet of Things has improved the efficiency and quality of social production, thus accelerating the speed of economic development. The calculation of issue spreads for Tier 2 capital bonds, mainly using a centralized settlement system, ignores the transparency of the data and leads to a high degree of uncertainty in the results of issue spread analysis. The current status of secondary capital bond issuance is analysed and a conceptual definition of blockchain and secondary capital bond is completed as the theoretical support for the subsequent empirical study. Bond issuance data are collected within the wind database as empirical research data, and ordinary bonds are selected as the reference object to put forward three empirical research hypotheses. Utilizing the bond issuance spread research model centered on the blockchain model for empirical analysis, the research results show that the secondary capital bond issuance spread is significantly lower than ordinary bonds.