Counter-credit-risk yield spreads: a puzzle in China's corporate bond market

In this paper, using China's risk-free and corporate zero yields together with aggregate credit risk measures and various control variables from 2006 to 2013, we document a puzzle of counter-credit-risk corporate yield spreads. We interpret this puzzle as a symptom of the immaturity of China's credit bond market, which reveals a distorted pricing mechanism latent in the fundamental of this market. We also find interesting results about relationships between corporate yield spreads and interest rates and risk premia and the stock index, and these results are somewhat attributed to this puzzle.

Experimental investigation on CFRP-steel bond properties using ionic liquid

Solving the problem of pre mature debonding of CFRP retrofitted structure is a main concern for most of structural engineers nowadays. Reducing the brittleness of the bonding agent at the CFRP/concrete interface is a major factor to avoid this behaviour. In this research, the effect of modifying the bonding agent using different percentages of ionic liquid (IL) is investigated. This paper reports on an experimental investigation on the behaviour of modified epoxy resin with IL. Steel plates were used as hosting surface of the CFRP laminates, the laminates were attached to the steel surface using the IL modified epoxy. The shear mechanism at the interface of CFRP laminates to steel plates is discussed considering the relationship between the shear and the slip at the interface. The shear stress- displacement are traced for all specimens, the results are compared with control test prepared using unmodified epoxy. A 20% IL modified epoxy shows improved Behaviour. The improvement is with respect to ductility enhancement of the overall behaviour.

Competition between cluster fragmentation, C–C bond coupling and C–X bond activation in silver hexynyl cluster cations, [(C4H9CCAg)nAg]+. Size does matter!

Silver hexynyl cluster cations, [(C4H9CCAg)nAg]+, exhibit a rich unimolecular chemistry that is dependant on the cluster size, n (1–5), cluster fragmentation (for all n > 1); C–C bond coupling (n = 3 & 4); C–H bond activation with comcomitant silver hydride formation (n = 1 & 4); C–C bond activation (n = 1 & 4).