The incremental yield spread gap between high- and low-yield bonds converges subsequent to periods of low sentiment, and diverges after high sentiment. Equity attributes marginally influence the impact of sentiment on bond spreads, but mostly for distressed bonds only. Copyright 2010 John Wiley & ...
An increase in market liquidity is consistent with yield spreads widening.【释义】A是正确的。市场流动性风险受发行人规模和发行人信用质量的影响。一般来说,发行人未清偿债务越少,其交易频率越低,市场流动性风险越高。因此,增加发行规模(发行人未清偿的公开交易债券)与降低市场流动性风险和缩小息差是一致的。B...
while positively correlated with equity volatility.The change of yield spread is negatively correlated with the change of the level of interest rate,turnover ratio,and zero-trading date ratio.Yield spread tends to be small when credit rating is high and bond maturity is long.supports all the ...
Corporate Bond Yield Spreads in Recent Decades Corporate bond interest rates are a subject of concern to investment analysts, corporate financial managers, and scholars. In this article the yield spread... Douglas,J.,Lamdin - 《Business Economics》 被引量: 9发表: 2004年 Markets: Transparency and...
The proportion of tax spread to the total yield spread is even higher for higher-grade bonds with shorter maturity. Results suggest that term structure models of defaultable bonds should incorporate taxes to better explain corporate bond spreads. The remainder of this paper is organized as follows....
Prior studies have explored the impact of bankruptcy judicial reform on yield spread (Huang et al., 2022), capital structure adjustment (Li & Rao, 2022), and corporate tax burden (Pan, Xie, Ning, et al., 2022). However, among them, the first two studies examined the financing effect ...
“Explaining the Rate Spread on Corporate Bonds” Equity Volatility and Corporate Bond Yields Structural Models of Corporate Bond Pricing: An Empirical Analysis The Relation Between Treasury Yields and Corporate Bond Yield Spreads Is Default Event Risk Priced in Corporate Bonds?
The relation between the corporate bond-yield spread and the real economy: Stable or time-varying? In this paper we assess whether the relation between the corporate bond-yield spread and the real economy has been stable over time. Using quarterly US dat... S Karlsson,P Osterholm - 《Economi...
Investigating Long Memory in Yield Spreads. the spread between Moody's Baa and Aaa corporate bond yields as well as the spread between each of these series and the 10-year Treasury bond yield... McCARTHY,JOSEPH,PANTALONE,... - 《Journal of Fixed Income》 ...
Silva, F., do Céu Cortez, M., Rocha Armada, M.: Conditioning information and European bond fund performance. Eur. Financ. Manag. 9, 201–230 (2003) Google Scholar Van Landschoot, A.: Determinants of yield spread dynamics: Euro versus US dollar corporate bonds. J. Bank. Financ. 32,...