Strategic Actions and Credit Spreads: An Empirical Investigation pdf

... Merton (1974) and Black and Cox (1976) and later extended along a number of dimensions by Leland (1994), Longstaff and Schwartz (1995), Leland and Toft (1996), and Collin-Dufresne and Goldstein ... Jones, Mason, and Rosenfeld (1984) andEom, Helwege, and Huang (2004) find that existing models cannot explain empirically observed bond spreads. 2 Important contributions include...

Ngày tải lên: 15/03/2014, 07:20

... reputation needs and regulation by the Securities and Exchange Commission (SEC). Such barriers to entry on the one hand and the high demand by bond issuers and regulators on the other hand might have ... Oved Yosha and Simon Benninga. I would like to thank Hans Hvide, Thore Johnsen, Eugene Kandel, Jan Peter Krahnen, Nadia Linciano, Yona Rubinstein, Oded Sarig, Avi Wohl, Yaron Ye...

Ngày tải lên: 16/02/2014, 03:20

... the analysis: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain. The table shows the estimated coefficients and their significance ... namely, Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain. Data originates primarily from the European Commission AMECO data...

Ngày tải lên: 23/03/2014, 20:20

... rates and default rates, and significant positive contemporaneous correlations between the changes in the slopes of term structure and default rates. Over time, changes in interest rates and default ... correlations between instantaneous default rate and interest rate. Lin and Curtillet (2007) take another look at the relationship between credit spreads and interest rates,...

Ngày tải lên: 26/10/2012, 11:21

... Caprio, and Levine (1999) builds an index of restrictions on three types of non-standard bank activities (securities, insurance, and real estate), and on banks’ ability to own shares of non-financial ... Lopez de Silanes, Andrei Shleifer, and Robert W. Vishny, 1998, “Law and Finance”, Journal of Political Economy, 102, pp. 1113-55. La Porta, Rafael, Florencio Lopez de Silanes, an...

Ngày tải lên: 17/02/2014, 03:20

Ngày tải lên: 18/02/2014, 11:20

... 2000 and 2001 (NYT00+01), and one of 110M words of AFP from 2002, 2005, and 2006 (AFP02+05+06). In both cases, we compute ¯ d(i) and tune parameters on 110M words of NYT from 2002 and 2003, and do ... similar train and test corpora, where the mean of the distribution (8.50) is close to the median (8.0), but not in the case of divergent corpora, where the mean (6.04) and median...

Ngày tải lên: 20/02/2014, 04:20

... I I-on-S II Answer I Agr. II I] "681 . 71 I N/Sa II .81 I .43 II aN/ S means not significant Table 2: Kappas from (Core and Allen 97) counts any variable with K < .67, and allows tenta- ... room Y and remove furniture item X from room Y. We subcategorize them as specific and general. A specific action has all necessary pa- rameters specified (type, price and color of...

Ngày tải lên: 20/02/2014, 18:20

Ngày tải lên: 07/03/2014, 02:20

... Cho and John Walsh for visiting us and generously providing us with their insight and guidance. We thank Donald Chalmers, Lynden Griggs, Matthew Rimmer, Andrew Christie, Joshua Gans, Amanda ... balance between patent rights and access to health care. PATENTS AND MEDICAL BIOTECHNOLOGY: AN EMPIRICAL ANALYSIS OF ISSUES FACING THE AUSTRALIAN INDUSTRY DIANNE...

Ngày tải lên: 13/03/2014, 21:54