Wang, Yu; Lu, Jiawei; Zhao, Xun - In: China journal of accounting studies 10 (2022) 3, pp. 367-389
Based on the risk hedging perspective, this paper examines the impact of directors' and officers' liability insurance (hereafter referred to as D&O liability insurance) on the pricing of corporate bonds. We find that the purchase of D&O liability insurance can effectively reduce corporate bond...