This study provides a dynamic analysis of the lead-lag relationship between sovereign Credit Default Swap (CDS) and … trigger rises in bond spreads, and the relative efficiency of credit risk pricing in the CDS and bond markets. In addition, we … in price discovery, incorporating the new information about sovereign credit risk faster and more efficiently than the …

on voluntary macroeconomic information disclosure with a focus on information content and market determinants. We base … disclosure quality is positive but the overall level of information is still insufficient. The introduction and development of … IFRS has little impact on macroeconomic information disclosure quality. The main drivers of the disclosure of voluntary …

reaction tests show that investors found these early COVID-19 disclosures useful. Using two measures of disclosure quality … more firm-specific in addressing the market demand of COVID-19 information. Understanding firms’ disclosure behavior in an … play in similar situations as the SEC transitions to a more principles-based approach towards disclosure regulation …

Prior research on the determinants of credit ratings has focused primarily on rating agencies' use of quantitative … gone relatively unexplored. This study examines the potential impact of the financial disclosure narrative on various bond … of debt capital. Collectively, our evidence suggests that textual financial disclosure attributes appear to not only …

gains and losses on the liabilities attributable to changes in the banks' own credit risk, referred to as the debt valuation …