Advanced Search
MyIDEAS: Login

Le recours au financement désintermédié par une collectivité locale et l'évaluation de la prime de risque obligataire: le cas de la ville de Marseille

Contents:

Author Info

  • Stéphanie Serve

    ()
    (Université Paris 12)

Abstract

With the case study of the city of Marseille over the period 1997-2000, this article attempts to analyze the motivation of the city for issuing guaranteed municipal bond and to identify the determining factors of the risk premium. The case study shows the existence of the juridical risk that explains that the premium of guaranteed municipal bond may be higher than a AAA rated bond. The results show the impact of default risk indicators (indebtedness, current receipts structure and socio-economics variables) on the risk premium; bond characteristics (call provision, amortization) are also significant.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://leg2.u-bourgogne.fr/rev/052142.pdf
Download Restriction: no

Bibliographic Info

Article provided by revues.org in its journal Revue Finance Contrôle Stratégie.

Volume (Year): 5 (2002)
Issue (Month): 2 (June)
Pages: 107-142

as in new window
Handle: RePEc:dij:revfcs:v:5:y:2002:i:q2:p:107-142

Contact details of provider:
Web page: http://www.revues.org/

Order Information:
Email:

Related research

Keywords: local governments; municipal bonds; default risk; rating;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:dij:revfcs:v:5:y:2002:i:q2:p:107-142. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Gérard Charreaux).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.