implemented by the ECB immediately after the burst of the Covid-19 pandemic. We show that the differences in aim, size and … addition to the directly targeted bonds, also the green bond segment. Via a standard difference-in-differences model we …

The rise of bond financing in EuropeUsing large panel data of public and private firms, this paper dissects the growth … of bond financing in the Euro Area through the lens of the cross-section of issuers. In recent years, the composition of … bond issuers has shifted, with the entry of many smaller and riskier issuers. New issuers invest and grow, instead of …

We conduct the most extensive study of underpricing in the euro area bond market so far and find strong evidence of … crisis and has remained at an elevated level since. We also show that secondary market liquidity in the euro area bond market … and the Volcker Rule. Furthermore, our evidence suggests that the ECB’s asset purchase programs have led to a decrease in …

This papers analyzes the effect of the ECB’s Corporate Sector Purchase Programme (CSPP) and the recent Pandemic … bond market. We exploit these policy changes using a difference-in-differences strategy, with ineligible corporate green …

We document capital misallocation in the U.S. investment-grade (IG) corporate bond market, driven by quantitative … easing (QE). Prospective fallen angels - risky firms just above the IG rating cutoff-enjoyed subsidized bond financing since …