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We provide causal evidence for the value of asset pledgeability. Our empirical strategy is based on a unique feature of the Chinese corporate bond markets, where bonds with identical fundamentals are simultaneously traded on two segmented markets that feature different rules for repo...
Persistent link: https://www.econbiz.de/10012850730
We provide causal evidence for the value of asset pledgeability. Our empirical strategy is based on a unique feature of the Chinese corporate bond markets, where bonds with identical fundamentals are simultaneously traded on two segmented markets that feature different rules for repo...
Persistent link: https://www.econbiz.de/10012858401
We provide causal evidence for the value of asset pledgeability. Our empirical strategy is based on a unique feature of the Chinese corporate bond markets, where bonds with identical fundamentals are simultaneously traded on two segmented markets that feature different rules for repo...
Persistent link: https://www.econbiz.de/10012480464
Persistent link: https://www.econbiz.de/10012005265
We use carbon dioxide (CO2) emissions growth to measure consumption risk within a consumption-based capital asset pricing model (CCAPM) framework. Given the comprehensive worldwide coverage of CO2 emissions, this measure allows us to use the full history of stock market data in the United...
Persistent link: https://www.econbiz.de/10012845696
Persistent link: https://www.econbiz.de/10014491880
Persistent link: https://www.econbiz.de/10014380954