Zhang, Zhichao; Song, Wei; Sun, Xin; Shi, Nan - In: Journal of Economics and Business 73 (2014) C, pp. 1-21
This paper empirically examines whether yield spreads of subordinated debt issued by UK banks are sensitive to bank risks, with a dataset that includes spreads, ratings, accounting measures of bank risks and market condition indexes in the sample period between 1997 and 2009. The results show...