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Can a violation of investor trust lead to financial contagion in the market for tax-exempt hospital bonds?

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  • Patrick Bernet
  • Thomas Getzen

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  • Patrick Bernet & Thomas Getzen, 2008. "Can a violation of investor trust lead to financial contagion in the market for tax-exempt hospital bonds?," International Journal of Health Economics and Management, Springer, vol. 8(1), pages 27-51, March.
    • Handle: RePEc:kap:ijhcfe:v:8:y:2008:i:1:p:27-51
    DOI: 10.1007/s10754-007-9030-y
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    References listed on IDEAS

    as
    1. Leone, Andrew J. & Van Horn, R. Lawrence, 2005. "How do nonprofit hospitals manage earnings?," Journal of Health Economics, Elsevier, vol. 24(4), pages 815-837, July.
    2. Grossman, Michael & Goldman, Fred & Nesbitt, Susan W. & Mobilia, Pamela, 1993. "Determinants of interest rates on tax-exempt hospital bonds," Journal of Health Economics, Elsevier, vol. 12(4), pages 385-410, December.
    3. Akhigbe, Aigbe & Madura, Jeff & Whyte, Ann Marie, 1997. "Intra-industry Effects of Bond Rating Adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 20(4), pages 545-561, Winter.
    4. Kristin J. Forbes & Roberto Rigobon, 2002. "No Contagion, Only Interdependence: Measuring Stock Market Comovements," Journal of Finance, American Finance Association, vol. 57(5), pages 2223-2261, October.
    5. Utpal Bhattacharya & Hazem Daouk, 2002. "The World Price of Insider Trading," Journal of Finance, American Finance Association, vol. 57(1), pages 75-108, February.
    6. Kristin Forbes & Roberto Rigobon, 1999. "No Contagion, Only Interdependence: Measuring Stock Market Co-movements," NBER Working Papers 7267, National Bureau of Economic Research, Inc.
    7. Gershberg, Alec Ian & Grossman, Michael, 2001. "Competition and the Cost of Capital Revisited: Special Authorities and Underwriters in the Market for Tax-Exempt Hospital Bonds," National Tax Journal, National Tax Association;National Tax Journal, vol. 54(2), pages 255-280, June.
    8. Laura E. Kodres & Matthew Pritsker, 2002. "A Rational Expectations Model of Financial Contagion," Journal of Finance, American Finance Association, vol. 57(2), pages 769-799, April.
    9. Impson, Michael, 2000. "Contagion Effects of Dividend Reduction or Omission Announcements in the Electric Utility Industry," The Financial Review, Eastern Finance Association, vol. 35(1), pages 121-136, February.
    10. Alec Ian Gershberg & Michael Grossman & Fred Goldman, 1999. "Health Care Capital Financing Agencies: The Intergovernmental Roles of Quasi-Government Authorities and the Impact on the Cost of Capital," NBER Working Papers 7221, National Bureau of Economic Research, Inc.
    11. Aigbe Akhigbe & Jeff Madura & Ann Marie Whyte, 1997. "Intra-Industry Effects Of Bond Rating Adjustments," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 20(4), pages 545-561, December.
    12. Aharony, Joseph & Swary, Itzhak, 1983. "Contagion Effects of Bank Failures: Evidence from Capital Markets," The Journal of Business, University of Chicago Press, vol. 56(3), pages 305-322, July.
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    More about this item

    Keywords

    Hospital bonds; Contagion; Bankruptcy; Interest costs; Trust; G33; I19;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • I19 - Health, Education, and Welfare - - Health - - - Other

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