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Neu-Emissions-Prämien: Handlungsalternativen für CFOs bei der Emission von Corporate Bonds

Author

Listed:
  • Daube, Carl Heinz
  • Krivenkov, Vladislav

Abstract

Underpricing of corporate bond offerings result in excess returns for investors (new issue premia) but lead to higher costs for the issuer. This paper analyses the new issue premia of 1.556 Euro denominated fixed coupon corporate bonds and finds a systematic underpricing of new issued bonds. The results are evaluated from a perspective of CFOs whether opportunities for saving funding costs exist.

Suggested Citation

  • Daube, Carl Heinz & Krivenkov, Vladislav, 2019. "Neu-Emissions-Prämien: Handlungsalternativen für CFOs bei der Emission von Corporate Bonds," EconStor Preprints 191940, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:191940
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    File URL: https://www.econstor.eu/bitstream/10419/191940/1/20190212_Neu%20Emissions%20Pr%c3%a4mien_CFO_Handlungsoptionen.pdf
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    More about this item

    Keywords

    Neu-Emissionprämien; CFO; Handlungsoptionen für CFO; Unternehmensfinanzierung;
    All these keywords.

    JEL classification:

    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies

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