IDEAS home Printed from https://ideas.repec.org/a/bla/jfnres/v12y1989i1p1-13.html
   My bibliography  Save this article

The Effect Of A Sinking Fund On The Reoffering Yields Of New Public Utility Bonds

Author

Listed:
  • David S. Kidwell
  • M. Wayne Marr
  • Joseph P. Ogden

Abstract

In this study, empirical tests are conducted to determine the impact of a sinking fund on reoffering yields of a sample of new public utility bonds sold between January 1977 and March 1982. The findings of the regression analysis are consistent with the hypotheses that the value of the sinking fund varies with the default risk of the issuer and with market expectations of future interest rate movements, and that the sinking fund improves the liquidity of a bond issue.

Suggested Citation

  • David S. Kidwell & M. Wayne Marr & Joseph P. Ogden, 1989. "The Effect Of A Sinking Fund On The Reoffering Yields Of New Public Utility Bonds," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 12(1), pages 1-13, March.
    • Handle: RePEc:bla:jfnres:v:12:y:1989:i:1:p:1-13
    DOI: 10.1111/j.1475-6803.1989.tb00096.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1475-6803.1989.tb00096.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1475-6803.1989.tb00096.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jfnres:v:12:y:1989:i:1:p:1-13. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/sfaaaea.html .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.