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With the aim of effectively preventing and controlling systemic risk, by stimulating the advancement of the green bond market, it is significant and imperative to help investors and policymakers adopt more effective measures, which will ensure them to maximize profit. We construct VAR, DCC-GARCH and Copula-CoVaR models, and study the spillover effect between the green bond market and traditional bond market from the three perspectives of mean spillover, volatility spillover and extreme risk spillover using the data on daily closing prices of green bond market and traditional bond market indices. The research findings of this paper are as follows: (1) There are three spillover effects of mean value, volatility and extreme risk among the green bond market, corporate bond market, enterprise bond market and conventional bond market. (2) From the perspective of mean spillover between markets, only the mean spillover between the conventional bond market and the green bond market is bidirectional, and there is the profoundest impact of spillover from the green bond market to the conventional bond market. (3) As far as the volatility spillover between markets is concerned, the volatility spillover between the three traditional bond market and the green bond markets are all positive. The volatility spillover between the conventional bond market and the green bond market is the largest, which is particularly obvious in the first half of 2018 and the first half of 2020. (4) In terms of inter-market extreme risk spillover, the risk spillover between the green bond market and the traditional bond market is positive. The green bond market contributes more to the risk spillover of the enterprise bond market, and it has a time-varying risk spillover effect on the traditional bond market. [ABSTRACT FROM AUTHOR]

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As an important information intermediary and external monitor, analysts have a serious impact on investors. In order to study the impact of analysts' attention and research reports' attention on corporate bond credit spreads, this paper selects non-financial companies issuing bonds in China A-share market from 2017 to 2020 as samples, establish a panel data regression model for empirical research. The research found that both analyst attention and research report attention have a significant impact on the credit spread of corporate bonds, and the higher the analyst attention and research report attention, the smaller the corporate bond credit spread, indicating that analysts play an effective role in supervising the default risk of listed companies. The research in this article expands the research on analysts' attention and research reports' attention, and the research on the factors affecting bond credit spreads. [ABSTRACT FROM AUTHOR]