Note(s): The table shows regressions of bond issuance spreads on the introduction of bankruptcy courts and the effect of creditor type and justice confidence. In columns (1) and (2), the dependent variable is bond issuance spreads (IssueSpread). PInvestor is a dummy variable that equals 1 for publicly tradable bonds and 0 for bonds only available to qualified investors or qualified institutional investors. HJudicial_Confidece is a dummy variable that equals 1 for bond issuances in provinces with Judicial Confidence Index above median and 0 otherwise. Control variables are the same as in Table 6. Other variables are defined as in Table 2. Robust t-statistics are reported in parentheses. *, ** and *** represent statistical significance at the 10, 5 and 1% level, respectively