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The economic consequences of regulatory changes in employee stock options on corporate bond holders: SFAS No.123R and structural credit model perspectives
Chen, Tsung-Kang; Liao, Hsien-Hsing; Chi, Cheng-Ming - In: Journal of Banking & Finance 42 (2014) C, pp. 381-394
Based upon structural credit models, we investigate the changes of the effects of employee stock options (ESOs) on bond yield spreads due to the revision of SFAS No. 123R (No.123R) which requires expensing ESO amounts. Using American bond observations from year 1995 to 2007, we find that the...
Persistent link: https://www.econbiz.de/10010753678
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Information uncertainty, information asymmetry and corporate bond yield spreads
Lu, Chia-wu; Chen, Tsung-kang; Liao, Hsien-hsing - In: Journal of banking & finance 34 (2010) 9, pp. 2265-2279
Persistent link: https://www.econbiz.de/10008746559
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Bank credit risk and structural credit models : agency and information asymmetry perspectives
Liao, Hsien-hsing; Chen, Tsung-kang; Lu, Chia-wu - In: Journal of banking & finance 33 (2009) 8, pp. 1520-1530
Persistent link: https://www.econbiz.de/10003855627
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Internal liquidity risk in corporate bond yield spreads
Chen, Tsung-kang; Liao, Hsien-hsing; Tsai, Pei-ling - In: Journal of banking & finance 35 (2011) 4, pp. 978-987
Persistent link: https://www.econbiz.de/10009244203
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Labor unions, bargaining power and corporate bond yield spreads : structural credit model perspectives
Chen, Tsung-kang; Chen, Yan-shing; Liao, Hsien-hsing - In: Journal of banking & finance 35 (2011) 8, pp. 2084-2098
Persistent link: https://www.econbiz.de/10009247311
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Internal liquidity risk, financial bullwhip effects, and corporate bond yield spreads : supply chain perspectives
Chen, Tsung-kang; Liao, Hsien-hsing; Kuo, Hui-ju - In: Journal of banking & finance 37 (2013) 7, pp. 2434-2456
Persistent link: https://www.econbiz.de/10009760628
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Underlying asset liguidity, heterogeneously informed investors, and REITs excess return
Lu, Chia-wu; Chen, Tsung-kang; Liao, Hsien-hsing - In: Managerial finance 40 (2014) 1, pp. 72-96
Persistent link: https://www.econbiz.de/10010252087
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Macroeconomic risks of supply chain counterparties and corporate bond yield spreads
Chen, Tsung-Kang; Liao, Hsien-hsing; Huang, Hsiao-Chun - In: Review of quantitative finance and accounting 43 (2014) 3, pp. 463-481
Persistent link: https://www.econbiz.de/10010490391
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A flow-based corporate credit model
Chen, Tsung-kang; Liao, Hsien-hsing; Lu, Chia-wu - In: Review of quantitative finance and accounting 36 (2011) 4, pp. 517-532
Persistent link: https://www.econbiz.de/10009272430
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Internal Liquidity Risk in REIT Excess Returns
Chen, Tsung-Kang - 2009
Because REITs distribute most taxable income to shareholders, internal liquidity is important for REIT investment decisions. We employ American REIT data to investigate the effects of internal liquidity risk on REIT excess returns. Our firm-level results show that internal liquidity risk...
Persistent link: https://www.econbiz.de/10013156931