Reilly, Frank K.; Wright, David J.; Gentry, James A. - In: Journal of Applied Corporate Finance 21 (2009) 3, pp. 65-79
In a history that now stretches about four decades, the high yield (HY) market has experienced growth in issuance and out-standings that is remarkable both for its level (about 13% per annum, with HY bonds now accounting for about 25% of the total corporate bond market) and its cyclicality and...
