Tài liệu Informational efficiency of loans versus bonds: Evidence from secondary market prices pptx

... informational efficiency of loans relative to bonds using a unique dataset of daily secondary market prices of loans. We find that the loan market is informationally more efficient than the bond market ... until now) of secondary market prices of loans. Our study fills this gap in the literature. Specifically, we examine, using a unique dataset of secondary mar...

Ngày tải lên: 16/02/2014, 02:20

... date that examines the pricing efficiency of the (secondary) market for loans nor on the informational efficiency of the market for loans relative to the market for bonds of the same corporation, largely ... for recovery rate Loans Bonds Price at default 0.59 0.28 Price one month after default 0.60 0.47 38 Informational efficiency of loans versus bonds: Evidence...

Ngày tải lên: 15/03/2014, 07:20

... corporate bond market. EDWARD I. ALTMAN AMAR GANDE ANTHONY SAUNDERS Bank Debt versus Bond Debt: Evidence from Secondary Market Prices This paper uses a new data set of daily secondary market prices of loans ... set of secondary market daily prices of loans from November 1, 1999 to October 31, 2007, we con- duct Granger casuality tests to examine the in...

Ngày tải lên: 29/03/2014, 03:20

... The E-Book of Technical Market Indicators www.wallstreetcourier.com Preface The transparency of the American markets offers an array of indicators and allows deep insights of prevailing ... number of calls advancing by the number of calls declining • Divide the number of puts declining by the number of puts advancing • Subtract the result of calls adv./decl. from...

Ngày tải lên: 17/01/2014, 03:20

... discussion of whether the recent developments in syndicated loan markets (such as the development of a significant secondary market) have triggered a convergence between bond and syndicated loan markets ... choice of debt market are different. However, when considered as part of the debt options spectrum for all firms, regardless of size, the motivation of firms tapping t...

Ngày tải lên: 16/02/2014, 02:20

... walls anywhere required • allows owner to change the size of room layout • allows choice of omitting false ceiling and finish soffit of slab with skim coating Design methodology . Design methodology ... height • Shorter construction time • Ease of installation of M&E services • Prefabricated welded mesh • Buildable score Analysis of flat slab Analysis of flat slab MOMENT...

Ngày tải lên: 12/12/2013, 14:15

... purchase of building materials from suppliers. Ongoing operations involve the purchase of a variety of goods and services from a number of suppliers.  Induced effects are the result of increased ... equivalent to 2% of the cost of those improvements. THE ECONOMIC IMPACT OF GENERAL OBLIGATION BONDS FOR AFFORDABLE HOUSING MAY 2012 Civic Economics 4 Map 1 THE ECONOMI...

Ngày tải lên: 15/02/2014, 13:20

Ngày tải lên: 21/12/2013, 01:20

... the latest software specification limits are downloaded from tester manufacturer and stored in the testers. Field Performance Testing V15 060508 Page 1 of 11 FIELD PERFORMANCE TESTING OF COPPER PERMANENT ... Page 2 of 11 Performance Testing of Permanent Links and Channels There are 3 distinct areas of cable testing; Certification, Qualification and Verification. Certification is t...

Ngày tải lên: 12/12/2013, 12:15

... Early: Banks in Venture Capital. Review of Financial Studies 21, 2, 513-541. [24] James, C. M., 1987. Some evidence on the uniqueness of bank loans. Journal of Financial Economics 19(2), 217-235. ... statistics for the sample of 1,068,000 consumer loans originated by German savings banks from November 2004 through June 2008. The number of observations corresponds to the n...

Ngày tải lên: 16/02/2014, 06:20