Corporate bond market is an important segment of financial market in terms of funds raised as well as potential for future growth though is sparsely researched. One of the two propositions on impact of dividend changes is signaling hypothesis (Bhattacharya, 1979) which suggests a positive effect...

Markets for CD that were introduced in 1989 and CP that were introduced in 1990 exhibit contrasting behavior. Activity in the CP market booms amidst ample liquidity condition whereas that in CD market shots up in tight market conditions. In order to examine the relationship between the sizes of...