Benzschawel, Terry; Fu, Liang; Murphy, Austin - In: Credit and Capital Markets – Kredit und Kapital 47 (2014) 3, pp. 439-464
This research investigates the existence of segmentation in the market for fixed-income securities. Evidence is found of higher yield spreads being required for non-distressed bonds making larger contributions to the risk of pure debt portfolios over the 2003–2011 period. Abnormal returns...
