Expectations of risky bond payments are unobservable and recovery rates for sovereigns are hard to estimate because …

A new concept of credit spread for defaultable bond pricing is introduced in this paper. When combined with the …

terms of the level, impact, generality, and originality of firms' patents — is a determinant of bond issuers' perceived … default risk and, by extension, corporate bond pricing. Investors consider more technologically innovative bond issuers to …

This paper explores the dynamic relationship between stock market implied credit spreads, CDS spreads, and bond spreads …

theory and practice. Our approach is well-suited for practical applications since the parameters required are easily …

We document a strong positive cross-sectional relation between corporate bond yield spreads and bond return … volatilities. As corporate bond prices are generally attributable to both credit risk and illiquidity as discussed in Huang and …, our credit and illiquidity proxies can explain almost three quarters of the yield spread-bond volatility relation with …

We show that corporate bond issuers benefit from utilizing existing underwriter relationships when rolling over bonds …