Speed of issuance and the adequacy of disclosure in the 144A high-yield debt market
Author
Abstract
Suggested Citation
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Jean Helwege & Christopher M. Turner, 1999. "The Slope of the Credit Yield Curve for Speculative‐Grade Issuers," Journal of Finance, American Finance Association, vol. 54(5), pages 1869-1884, October.
- Billett, Matthew T & Flannery, Mark J & Garfinkel, Jon A, 1995. "The Effect of Lender Identity on a Borrowing Firm's Equity Return," Journal of Finance, American Finance Association, vol. 50(2), pages 699-718, June.
- Smith, Clifford Jr., 1986. "Investment banking and the capital acquisition process," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 3-29.
- Diamond, Douglas W, 1989.
"Reputation Acquisition in Debt Markets,"
Journal of Political Economy, University of Chicago Press, vol. 97(4), pages 828-862, August.
- Douglas W. Diamond, 1998. "Reputation Acquisition in Debt Markets," Levine's Working Paper Archive 602, David K. Levine.
- Mark S. Carey & Stephen D. Prowse & John Rea & Gregory F. Udell, 1993. "The economics of the private placement market," Staff Studies 166, Board of Governors of the Federal Reserve System (U.S.).
- Jennifer E. Bethel & Erik R. Sirri, 1998. "Express Lane Or Tollbooth In The Desert? The Sec'S Framework For Security Issuance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 11(1), pages 25-38, March.
- Sarig, Oded & Warga, Arthur, 1989. "Some Empirical Estimates of the Risk Structure of Interest Rates," Journal of Finance, American Finance Association, vol. 44(5), pages 1351-1360, December.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Resnick, Bruce G., 2012. "Investor yield and gross underwriting spread comparisons among U.S. dollar domestic, Yankee, Eurodollar, and global bonds," Journal of International Money and Finance, Elsevier, vol. 31(2), pages 445-463.
- Guedhami, Omrane & Pittman, Jeffrey, 2008. "The importance of IRS monitoring to debt pricing in private firms," Journal of Financial Economics, Elsevier, vol. 90(1), pages 38-58, October.
- Patrick Behr, 2012. "Opaqueness and Bank Risk Taking," Brazilian Review of Finance, Brazilian Society of Finance, vol. 10(4), pages 499-527.
- Gregory Duffee & Peter Hördahl, 2021. "Debt specialisation and diversification: International evidence," BIS Working Papers 928, Bank for International Settlements.
- Arena, Matteo P. & Dewally, Michaël, 2012. "Firm location and corporate debt," Journal of Banking & Finance, Elsevier, vol. 36(4), pages 1079-1092.
- Han, Song & Huang, Alan Guoming & Kalimipalli, Madhu & Wang, Ke, 2022. "Information and liquidity of over-the-counter securities: Evidence from public registration of Rule 144A bonds," Journal of Financial Markets, Elsevier, vol. 59(PB).
- Song Han & Alan G. Huang & Madhu Kalimipalli & Ke Wang, 2018. "Information and Liquidity of OTC Securities : Evidence from Public Registration of Rule 144A Bonds," Finance and Economics Discussion Series 2018-061, Board of Governors of the Federal Reserve System (U.S.).
- Galina Hale & João A. C. Santos, 2006. "Evidence on the costs and benefits of bond IPOs," Working Paper Series 2006-42, Federal Reserve Bank of San Francisco.
- Hale, Galina & Santos, João A.C., 2009.
"Do banks price their informational monopoly?,"
Journal of Financial Economics, Elsevier, vol. 93(2), pages 185-206, August.
- Galina Hale & João A. C. Santos, 2008. "Do banks price their informational monopoly?," Working Paper Series 2008-14, Federal Reserve Bank of San Francisco.
- Christina E. Bannier & Patrick Behr & Andre Güttler, 2010.
"Rating opaque borrowers: why are unsolicited ratings lower?,"
Review of Finance, European Finance Association, vol. 14(2), pages 263-294.
- Bannier, Christina E. & Behr, Patrick & Güttler, André, 2009. "Rating opaque borrowers: why are unsolicited ratings lower?," Frankfurt School - Working Paper Series 133, Frankfurt School of Finance and Management.
- Simon H. Kwan & Willard T. Carleton, 2010.
"Financial Contracting and the Choice between Private Placement and Publicly Offered Bonds,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 907-929, August.
- Simon H. Kwan & Willard T. Carleton, 2010. "Financial Contracting and the Choice between Private Placement and Publicly Offered Bonds," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 42(5), pages 907-929, August.
- Willard T. Carleton & Simon H. Kwan, 2004. "Financial contracting and the choice between private placement and publicly offered bonds," Working Paper Series 2004-20, Federal Reserve Bank of San Francisco.
- Barry, Christopher B. & Mann, Steven C. & Mihov, Vassil & Rodríguez, Mauricio, 2009. "Interest rate changes and the timing of debt issues," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 600-608, April.
- Liang, Hsiao-Chen & Jang, Woan-Yuh, 2013. "Information asymmetry and monitoring in equity private placements," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(4), pages 460-475.
- Wassim Dbouk & Dawei Jin & Haizhi Wang & Jianrong Wang, 2018. "Corporate Social Responsibility and Rule 144A Debt Offerings: Empirical Evidence," IJFS, MDPI, vol. 6(4), pages 1-18, November.
- Santos, Joao A.C., 2006. "Why firm access to the bond market differs over the business cycle: A theory and some evidence," Journal of Banking & Finance, Elsevier, vol. 30(10), pages 2715-2736, October.
- Lamoureux, Christopher G. & Nejadmalayeri, Ali, 2015. "Costs of capital and public issuance choice," Journal of Banking & Finance, Elsevier, vol. 61(C), pages 27-45.
- Robert Prilmeier & René M. Stulz, 2019. "Securities Laws, Bank Monitoring, and the Choice Between Cov-lite Loans and Bonds for Highly Levered," NBER Working Papers 25467, National Bureau of Economic Research, Inc.
- Lynda S. Livingston & Thomas Glassman, 2009. "Creating A New Type Of Student Managed Fund Using Peer-To-Peer Loans," Business Education and Accreditation, The Institute for Business and Finance Research, vol. 1(1), pages 1-14.
- Darius P. Miller & John J. Puthenpurackal, 2001. "The Costs, Wealth Effects, and Determinants of International Capital Raising: Evidence from Public Yankee Bonds," William Davidson Institute Working Papers Series 445, William Davidson Institute at the University of Michigan.
- Timothy Riddiough, 2001. "Intermediation, Standardization and Learning in Financial Markets: Some Evidence and Implications," Wisconsin-Madison CULER working papers 01-09, University of Wisconsin Center for Urban Land Economic Research.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Allen N. Berger & Gregory F. Udell, 1994.
"Lines of credit and relationship lending in small firm finance,"
Proceedings
52, Federal Reserve Bank of Chicago.
- Allen N. Berger & Gregory E. Udell, 1994. "Lines of Credit and Relationship Lending in Small Firm Finance," Economics Working Paper Archive wp_113, Levy Economics Institute.
- Allen Berger & Gregory Udell, 1994. "Lines of Credit and Relationship Lending in Small Firm Finance," Center for Financial Institutions Working Papers 94-11, Wharton School Center for Financial Institutions, University of Pennsylvania.
- Allen N. Berger & Gregory F. Udell, 1999. "Lines of Credit and Relationship Lending in Small Firm Finance," Macroeconomics 9906006, University Library of Munich, Germany.
- Krishnaswami, Sudha & Spindt, Paul A. & Subramaniam, Venkat, 1999. "Information asymmetry, monitoring, and the placement structure of corporate debt," Journal of Financial Economics, Elsevier, vol. 51(3), pages 407-434, March.
- Becht, Marco & Bolton, Patrick & Roell, Ailsa, 2003.
"Corporate governance and control,"
Handbook of the Economics of Finance, in: G.M. Constantinides & M. Harris & R. M. Stulz (ed.), Handbook of the Economics of Finance, edition 1, volume 1, chapter 1, pages 1-109,
Elsevier.
- Patrick Bolton & Marco Becht & Alisa Röell, 2002. "Corporate Governance and Control," NBER Working Papers 9371, National Bureau of Economic Research, Inc.
- Marco Becht & Patrick Bolton & Ailsa Roell, 2003. "Corporate governance and control," ULB Institutional Repository 2013/13330, ULB -- Universite Libre de Bruxelles.
- Marques, Manuel O. & Pinto, João M., 2020.
"A comparative analysis of ex ante credit spreads: Structured finance versus straight debt finance,"
Journal of Corporate Finance, Elsevier, vol. 62(C).
- João Pinto & Manuel Marques & William Megginson, 2013. "A Comparative Analysis Of Ex Ante Credit Spreads: Structured Finance Versus Straight Debt Finance," Working Papers de Economia (Economics Working Papers) 05, Católica Porto Business School, Universidade Católica Portuguesa.
- Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.
- Godlewski, Christophe J., 2015.
"The certification value of private debt renegotiation and the design of financial contracts: Empirical evidence from Europe,"
Journal of Banking & Finance, Elsevier, vol. 53(C), pages 1-17.
- Christophe J. Godlewski, 2015. "The certification value of private debt renegotiation and the design of financial contracts: Empirical evidence from Europe," Post-Print hal-03047779, HAL.
- Harvey, Campbell R. & Lins, Karl V. & Roper, Andrew H., 2004.
"The effect of capital structure when expected agency costs are extreme,"
Journal of Financial Economics, Elsevier, vol. 74(1), pages 3-30, October.
- Campbell R. Harvey & Karl V. Lins & Andrew H. Roper, 2001. "The Effect of Capital Structure When Expected Agency Costs are Extreme," NBER Working Papers 8452, National Bureau of Economic Research, Inc.
- Krishnan, C. N. V. & Ritchken, P. H. & Thomson, J. B., 2006.
"On Credit-Spread Slopes and Predicting Bank Risk,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 38(6), pages 1545-1574, September.
- C. N. V. Krishnan & Peter H. Ritchken & James B. Thomson, 2003. "On credit spread slopes and predicting bank risk," Working Papers (Old Series) 0314, Federal Reserve Bank of Cleveland.
- C. N. V. Krishnan & Peter H. Ritchken & James B. Thomson, 2004. "On credit spread slopes and predicting bank risk," Proceedings 938, Federal Reserve Bank of Chicago.
- Khaled Amira, 2004. "Determinants of Sovereign Eurobonds Yield Spread," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(5‐6), pages 795-821, June.
- David Harrison & Michael Seiler, 2015. "The Paradox of Judicial Foreclosure: Collateral Value Uncertainty and Mortgage Rates," The Journal of Real Estate Finance and Economics, Springer, vol. 50(3), pages 377-411, April.
- Marti G. Subrahmanyam & Young Ho Eom & Jun Uno, 2000. "Credit Risk and the Pricing of Japanese Yen Interest Rate Swaps," New York University, Leonard N. Stern School Finance Department Working Paper Seires 98-069, New York University, Leonard N. Stern School of Business-.
- K.J. Martijn Cremers & Joost Driessen & Pascal Maenhout, 2008.
"Explaining the Level of Credit Spreads: Option-Implied Jump Risk Premia in a Firm Value Model,"
The Review of Financial Studies, Society for Financial Studies, vol. 21(5), pages 2209-2242, September.
- Martijn Cremers & Joost Driessen & Pascal Maenhout & David Weinbaum, 2005. "Explaining the level of credit spreads: option-implied jump risk premia in a firm value model," BIS Working Papers 191, Bank for International Settlements.
- Okimoto, Tatsuyoshi & Takaoka, Sumiko, 2022.
"The credit spread curve distribution and economic fluctuations in Japan,"
Journal of International Money and Finance, Elsevier, vol. 122(C).
- OKIMOTO Tatsuyoshi & TAKAOKA Sumiko, 2020. "The Credit Spread Curve Distribution and Economic Fluctuations in Japan," Discussion papers 20030, Research Institute of Economy, Trade and Industry (RIETI).
- Stephanie Heck, 2022. "Corporate bond yields and returns: a survey," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 36(2), pages 179-201, June.
- Hongming Huang & Yildiray Yildirim, 2008. "Leverage, options liabilities, and corporate bond pricing," Review of Derivatives Research, Springer, vol. 11(3), pages 245-276, October.
- Mark S. Carey & Stephen D. Prowse & John Rea & Gregory F. Udell, 1993. "The economics of the private placement market," Staff Studies 166, Board of Governors of the Federal Reserve System (U.S.).
- Liu, Lu, 2023. "The demand for long-term mortgage contracts and the role of collateral," Bank of England working papers 1009, Bank of England.
- Nan Chen & S. G. Kou, 2009. "Credit Spreads, Optimal Capital Structure, And Implied Volatility With Endogenous Default And Jump Risk," Mathematical Finance, Wiley Blackwell, vol. 19(3), pages 343-378, July.
- João Santos, 1998.
"Commercial Banks in the Securities Business: A Review,"
Journal of Financial Services Research, Springer;Western Finance Association, vol. 14(1), pages 35-60, July.
- João A. C. Santos, 1996. "Commercial banks in the securities business: a review," Working Papers (Old Series) 9610, Federal Reserve Bank of Cleveland.
- João A. C. Santos, 1998. "Commercial banks in the securities business: A review," BIS Working Papers 56, Bank for International Settlements.
- Steven A. Dennis & Ian G. Sharpe, 2005. "Firm Size Dependence in the Determinants of Bank Term Loan Maturity," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 32(1-2), pages 31-64.
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:eee:jfinec:v:56:y:2000:i:3:p:383-405. 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.
If CitEc recognized a bibliographic reference but did not link an item in RePEc 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 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/505576 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.