an over-the-counter secondary market with search frictions. Bargaining with dealers determines a bond's endogenous … liquidity, which depends on both the firm fundamental and the time-to-maturity of the bond. Corporate default decisions interact … endogenous default worsens a bond's secondary market liquidity, which amplifies equity holders' rollover losses, which in turn …

green bonds and characterize the "green bond boom" witnessed in recent years. Second, using firm-level data on green bonds … bonds. I find that the stock market responds positively to the announcement of green bond issues. Moreover, I document a … certification is an important governance mechanism in the green bond market. I conclude by discussing potential implications for …

shift from bank finance to bond finance, at a time when the cost of market debt rose above the cost of bank loans. We show …

for jump-to-default risk. However, these models preclude a "contagion-risk'' channel, where the aggregate corporate bond … even if P-measure contagion across defaults is small. We find empirical support for contagion in bond returns in response …

I propose an implementation of the q-theory of investment using bond prices instead of equity prices. Credit risk makes … corporate bond prices sensitive to future asset values, and q can be inferred from bond prices. The bond market's q performs …