An Empirical Investigation of New Bond Issue Yield Spreads, Default Risk and Split Ratings
This paper attempts to explain the yield spreads charged to new corporate debt issues by comparing the initial yields of a set of 3,287 securities issued over eleven years in the US. We use the measure of constant maturity Treasury rates on the day of issue against the Moody’s Aaa Corporate Bond ind...
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| Format: | Article |
| Language: | English |
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Universiti Utara Malaysia
2009
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| Online Access: | http://repo.uum.edu.my/25086/1/IJBF%206%201%202008%20141%20160.pdf http://repo.uum.edu.my/25086/ http://ijbf.uum.edu.my/index.php/previous-issues/137-the-international-journal-of-banking-and-finance-ijbf-vol-6-no-1-2009 |
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