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Ownership Structure and the Cost of Debt : Evidence from Chinese Corporate Bond Market
Chatterjee, Sris - 2019
We study how firms' ownership structure affects the cost of debt using evidence from Chinese corporate bond market. Our result shows state, institutional, and foreign ownership all help to reduce firms' cost of debt. The effect of state ownership is more pronounced if the issuer is headquartered...
Persistent link: https://www.econbiz.de/10012892547
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Corporate Reputation in Bond Market : Evidence from Lawsuits
Gu, Xian - 2018
How much does firm reputation matter in the public debt market? Using lawsuits that have an adverse effect on firm reputation, we find corporate bond prices react to lawsuit information. Litigated firms issue bonds with 4.9 percent higher yield spreads, 11-month shorter maturities, and $14.7...
Persistent link: https://www.econbiz.de/10012935205
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Stock liquidity and corporate labor investment
Ee, Mong Shan; Hasan, Iftekhar; Huang, He - In: The journal of corporate finance : contracting, … 72 (2022), pp. 1-26
Persistent link: https://www.econbiz.de/10013209808
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The Determinants of Option-Adjusted Delta Credit Spreads : A Comparative Analysis of the United States, the United Kingdom and the Euro Area
Becchetti, Leonardo - 2009
We analyse the determinants of the variation of option-adjusted credit spreads (OASs) on a unique database that enlarges the traditional scope of analysis to more disaggregated indexes (combining industry, grade and maturity levels), new variables (volumes of sales and purchases of institutional...
Persistent link: https://www.econbiz.de/10013153595
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Externality of Stock Liquidity to the Cost of Borrowing
Francis, Bill - 2016
The paper investigates whether stock liquidity of firms is valued by lending banks revealing that firms with higher … liquidity in the capital market pay lower spreads for the loans they obtain. This relationship is causal as evidenced by using … the decimalization of tick size as an exogenous shock to stock liquidity in a difference-in-differences setting. Reduction …
Persistent link: https://www.econbiz.de/10012979288
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Which financial stocks did short sellers target in the subprime crisis?
Hasan, Iftekhar; Massoud, Nadia; Saunders, Anthony; … - Suomen Pankki - 2015
Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies’ risk exposures in the subprime crisis. The evidence suggests that short sellers sold short stocks that...
Persistent link: https://www.econbiz.de/10011188494
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Which financial stocks did short sellers target in the subprime crisis?
Hasan, Iftekhar; Massoud, Nadia; Saunders, Anthony; … - In: Journal of Banking & Finance 54 (2015) C, pp. 87-103
Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies’ risk exposure in the subprime crisis. Evidence suggests that short sellers sold short stocks that had...
Persistent link: https://www.econbiz.de/10011264658
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Which financial stocks did short sellers target in the subprime crisis?
Hasan, Iftekhar; Massoud, Nadia; Saunders, Anthony; … - 2015
Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies' risk exposures in the subprime crisis. The evidence suggests that short sellers sold short stocks that...
Persistent link: https://www.econbiz.de/10012148242
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Politically connected firms in Poland and their access to bank financing
Hasan, Iftekhar; Jackowicz, Krzysztof; Kowalewski, Oskar; … - 2014
This study investigates the relationship between politically connected firms and their access to bank financing in a post-communist eras in Poland. Overall, it finds that "recent" political connections do influence access to bank financing and the value of such connections increased during the...
Persistent link: https://www.econbiz.de/10012148719
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Which Financial Stocks Did Short Sellers Target in the Subprime Crisis?
Hasan, Iftekhar - 2015
​Tracing the SEC ban on the short selling of financial stocks in September 2008, this paper investigates whether such selling activity before the 2008 short ban reflected financial companies' risk exposures in the subprime crisis. The evidence suggests that short sellers sold short stocks that...
Persistent link: https://www.econbiz.de/10013027420