Poskitt, Russell - In: Pacific Accounting Review 25 (2013) 3, pp. 278-292
risk and liquidity factors impact on issue spreads. Findings – Prior to March 2008, issue spreads are higher when issuers … have a weaker credit rating, risk aversion is high and investor appetite for the issue is low. There is no term premium in … issue spreads. After March 2008, credit ratings have no influence on issue spreads, while the influence of risk aversion is …