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Event Risk: An Analysis of Losses to Bondholders and "Super Poison Put" Bond Covenants

Citations

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Cited by:

  1. Maul, D. & Schiereck, D., 2017. "The bond event study methodology since 1974," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 80723, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
  2. Jennie Bai & Pierre Collin-Dufresne & Robert S. Goldstein & Jean Helwege, 2012. "On bounding credit event risk premia," Staff Reports 577, Federal Reserve Bank of New York.
  3. Datta, Sudip & Iskandar-Datta, Mai & Raman, Kartik, 2000. "Debt Structure Adjustments and Long-Run Stock Price Performance," Journal of Financial Intermediation, Elsevier, vol. 9(4), pages 427-453, October.
  4. Hans Degryse & Steven Ongena, 2005. "Distance, Lending Relationships, and Competition," Journal of Finance, American Finance Association, vol. 60(1), pages 231-266, February.
  5. K.J. Martijn Cremers & Vinay B. Nair & Chenyang Wei, 2007. "Governance Mechanisms and Bond Prices," Review of Financial Studies, Society for Financial Studies, vol. 20(5), pages 1359-1388, 2007 07.
  6. Helwege, Jean, 2010. "Financial firm bankruptcy and systemic risk," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 20(1), pages 1-12, February.
  7. Hong Li & Yuan Wang, 2016. "How do Corporate Governance Decisions Affect Bondholders?," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 6(03), pages 1-23, September.
  8. Ang, James S. & Kraizberg, Elli, 2004. "An analysis of a strategy for management to separate and reward supportive shareholders," Journal of Corporate Finance, Elsevier, vol. 10(4), pages 639-658, September.
  9. K.J. Martijn Cremers & Vinay B. Nair & Chenyang Wei, 2007. "Governance Mechanisms and Bond Prices," Review of Financial Studies, Society for Financial Studies, vol. 20(5), pages 1359-1388, 2007 07.
  10. Alexander David, 1998. "Pricing the strategic value of poison put bonds," Finance and Economics Discussion Series 1998-06, Board of Governors of the Federal Reserve System (U.S.).
  11. Eisenthal-Berkovitz, Yael & Feldhütter, Peter & Vig, Vikrant, 2020. "Leveraged buyouts and bond credit spreads," Journal of Financial Economics, Elsevier, vol. 135(3), pages 577-601.
  12. Linn, Scott C. & Stock, Duane R., 2005. "The impact of junior debt issuance on senior unsecured debt's risk premiums," Journal of Banking & Finance, Elsevier, vol. 29(6), pages 1585-1609, June.
  13. Richard Cantor & Kevin Cole & Frank Packer, 1997. "Split ratings and the pricing of credit risk," Research Paper 9711, Federal Reserve Bank of New York.
  14. Bae, Sung C. & Klein, Daniel P., 1997. "Further evidence on corporate bonds with event-risk covenants: Inferences from Standard and Poor's and Moody's bond ratings," The Quarterly Review of Economics and Finance, Elsevier, vol. 37(3), pages 709-724.
  15. Suh, Sangwon, 2012. "Measuring systemic risk: A factor-augmented correlated default approach," Journal of Financial Intermediation, Elsevier, vol. 21(2), pages 341-358.
  16. Pierre Collin-Dufresne & Robert S. Goldstein & Jean Helwege, 2010. "Is Credit Event Risk Priced? Modeling Contagion via the Updating of Beliefs," NBER Working Papers 15733, National Bureau of Economic Research, Inc.
  17. Karl Okamoto & David Pedersen & Natalie Pedersen, 2011. "The Price Effects of Event‐Risk Protection: The Results from a Natural Experiment," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 8(4), pages 878-903, December.
  18. Datta, Sudip & Iskandar-Datta, Mai & Patel, Ajay, 1999. "Bank monitoring and the pricing of corporate public debt," Journal of Financial Economics, Elsevier, vol. 51(3), pages 435-449, March.
  19. Billett, Matthew T. & Yang, Ke, 2016. "Bond tender offers in mergers and acquisitions," Journal of Corporate Finance, Elsevier, vol. 40(C), pages 128-141.
  20. Nash, Robert C. & Netter, Jeffry M. & Poulsen, Annette B., 2003. "Determinants of contractual relations between shareholders and bondholders: investment opportunities and restrictive covenants," Journal of Corporate Finance, Elsevier, vol. 9(2), pages 201-232, March.
  21. David, Alexander, 2001. "Pricing the strategic value of putable securities in liquidity crises," Journal of Financial Economics, Elsevier, vol. 59(1), pages 63-99, January.
  22. Francis, Bill B. & Hasan, Iftekhar & John, Kose & Waisman, Maya, 2010. "The effect of state antitakeover laws on the firm's bondholders," Journal of Financial Economics, Elsevier, vol. 96(1), pages 127-154, April.
  23. Gonzalez, F. & Haas, F. & Johannes, R. & Persson, M. & Toledo, L. & Violi, R. & Zins, C. & Wieland, M., 2004. "Market dynamics associated with credit ratings: a literature review," Financial Stability Review, Banque de France, issue 4, pages 53-76, June.
  24. Nanda, Vikram & Yun, Youngkeol, 1996. "Financial innovation and investor wealth: A study of the poison put in convertible bonds," Journal of Corporate Finance, Elsevier, vol. 3(1), pages 1-22, December.
  25. Billett, Matthew T. & Jiang, Zhan & Lie, Erik, 2010. "The effect of change-in-control covenants on takeovers: Evidence from leveraged buyouts," Journal of Corporate Finance, Elsevier, vol. 16(1), pages 1-15, February.
  26. Sung C. Bae & Daniel P. Klein & Raj Padmaraj, 1997. "Firm Characteristics And The Presence Of Event Risk Covenants In Bond Indentures," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 20(3), pages 373-388, September.
  27. Renjie, Rex Wang & Xia, Shuo, 2024. "Poison bonds," IWH Discussion Papers 3/2024, Halle Institute for Economic Research (IWH).
  28. Douglas, Alan V. S., 2002. "Capital structure and the control of managerial incentives," Journal of Corporate Finance, Elsevier, vol. 8(4), pages 287-311, October.
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