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green bond returns and volatilities. On the whole, the evidence suggests weaker linkages, and thus a lower degree of …
Persistent link: https://www.econbiz.de/10014234020
In our article we present the use of hybrid securities in the privatization process. We show that exchangeable bonds may be successfully applied during privatization of state companies throughout the world. It may be profitable for many reasons. Firstly, the exchangeables offer a much lower...
Persistent link: https://www.econbiz.de/10010390522
returns, bond issuance, and balance sheet data for U.S. bank holding companies. The results add to our understanding of market …
Persistent link: https://www.econbiz.de/10012785682
bond proceeds is used for refinancing ordinary debt, continuing ongoing projects, or initiating projects without green … aspects that are novel for the issuer. Only 2% of corporate and municipal green bond proceeds initiate projects with clearly … yields, announcement effects, green bond index inclusion, and green bond fund holdings are uncorrelated with additionality …
Persistent link: https://www.econbiz.de/10015072901
In this paper we estimate and interpret the factors that jointly determine bond returns of different maturities in the … US, Germany and Japan. We analyze both currency-hedged as well as unhedged bond returns. For currency-hedged bond returns …, we find that five factors explain 96.5% of the variation of bond returns. These factors can be associated with changes in …
Persistent link: https://www.econbiz.de/10001528975
We develop a structural bond pricing approach and implement it on a large panel of US industrial bonds using an … form models. Furthermore, our analysis provide evidence that bond yield spreads incorporate a substantial liquidity … spreads ; default ; structural bond pricing models …
Persistent link: https://www.econbiz.de/10001600071
Since January 2014 the U.S. Treasury has been issuing floating rate notes (FRNs). We estimate that the U.S. FRNs have been paying excess interest between 5 and 39 basis points above the implied cost for other Treasury securities. With more than 300 billion dollars of FRNs outstanding, the excess...
Persistent link: https://www.econbiz.de/10012901992
We study green bonds, which are bonds whose proceeds are used for environmentally sensitive purposes. After an overview of the U.S. corporate and municipal green bonds markets, we study pricing and ownership patterns using a simple framework that incorporates assets with nonpecuniary utility. As...
Persistent link: https://www.econbiz.de/10012908698
between the stock's earnings and bond yields. The novelty of our econometric methodology consists in using a vector error … that the stock's earnings yield followed the bond yield in both the short- and long-run, but not the other way around …
Persistent link: https://www.econbiz.de/10012899977
This article examines whether there is a correlation between the government bond markets of Asian countries and those … of the USA, and whether the efforts of international organizations to improve bond markets have had any effect in East … Asia. Because the sizes of the government bond markets are larger than those of the corporate bond markets in East Asia …
Persistent link: https://www.econbiz.de/10013060911