. Short sellers also facilitate price discovery by reducing abnormal stock returns following downgrades and by leading bond …

This paper provides the first evidence of the debt and stock market reaction to corporate green bond issuance in the … of the Chinese green bond pricing premium is greatly larger than that of an international green bond documented in prior … by long-term institutional investors. Further analysis reveals positive announcement stock returns for green bond new …

unexpected persistence of the dislocation between bond and derivative credit markets. We show that the first two moments of the …We reinvestigate the CDS-bond basis negativity puzzle after the financial crisis. This puzzle is defined as the … cross-sectional variation of the CDS-bond basis in each regime. Using a model with several limit-to-arbitrage factors, we …

realized defaults. Furthermore, it predicts future equity and corporate bond returns, even after controlling for many existing …