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Information uncertainty, information asymmetry and corporate bond yield spreads

Citations

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Cited by:

  1. Melvin Jameson & Tao‐Hsien Dolly King & Andrew Prevost, 2021. "Top management incentives and financial flexibility: The case of make‐whole call provisions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(1-2), pages 374-404, January.
  2. Mohd Saad, Noriza & Haniff, Mohd Nizal & Ali, Norli, 2020. "Corporate governance mechanisms with conventional bonds and Sukuk’ yield spreads," Pacific-Basin Finance Journal, Elsevier, vol. 62(C).
  3. Alvis K. Lo, 2014. "Do Declines in Bank Health Affect Borrowers’ Voluntary Disclosures? Evidence from International Propagation of Banking Shocks," Journal of Accounting Research, John Wiley & Sons, Ltd., vol. 52(2), pages 541-581, May.
  4. Chen, Tsung-Kang & Liao, Hsien-Hsing & Tsai, Pei-Ling, 2011. "Internal liquidity risk in corporate bond yield spreads," Journal of Banking & Finance, Elsevier, vol. 35(4), pages 978-987, April.
  5. Aurelio F. Bariviera & Luciano Zunino & M. Belen Guercio & Lisana B. Martinez & Osvaldo A. Rosso, 2015. "Efficiency and credit ratings: a permutation-information-theory analysis," Papers 1509.01839, arXiv.org.
  6. Jiang, Zhiqian & Xu, Yue & Fang, Mei & Tang, Ziling & Tao, Chunhua, 2023. "How does the bond market price corporate ESG engagement? Evidence from China," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 1406-1423.
  7. Jeong, Jinho, 2013. "Determinants of dividend smoothing in emerging market: The case of Korea," Emerging Markets Review, Elsevier, vol. 17(C), pages 76-88.
  8. Chen, Tsung-Kang, 2016. "Does geography matter in a geographically small and culturally homogeneous country? Firm location and corporate credit risk," International Review of Economics & Finance, Elsevier, vol. 44(C), pages 323-348.
  9. Wen, Wen & Dong, Jinghan & Niu, Yuhao, 2026. "Public data availability and bond credit spreads: Evidence from China," Economic Modelling, Elsevier, vol. 154(C).
  10. Mahmoud Delshadi & Mahmoud Hosseinniakani & Zabihollah Rezaee, 2023. "Does options trading deter real activities manipulation?," Review of Quantitative Finance and Accounting, Springer, vol. 61(2), pages 673-699, August.
  11. Venessa S. Tchamyou & Simplice A. Asongu & Jacinta C. Nwachukwu, 2018. "Effects of asymmetric information on market timing in the mutual fund industry," International Journal of Managerial Finance, Emerald Group Publishing Limited, vol. 14(5), pages 542-557, May.
  12. Huang, Guan-Ying & Huang, Henry H. & Lee, Chun I, 2019. "Is CEO pay disparity relevant to seasoned bondholders?," International Review of Economics & Finance, Elsevier, vol. 64(C), pages 271-289.
  13. He, Feng & Ren, Xingzi & Wang, Yueren & Lei, Xingfan, 2025. "Climate risk and corporate bond credit spreads," Journal of International Money and Finance, Elsevier, vol. 154(C).
  14. Jaskowski, Marcin & Rettl, Daniel A., 2023. "Information acquisition costs and credit spreads," Journal of Banking & Finance, Elsevier, vol. 149(C).
  15. Liu, Bo & Liu, Yang & Peng, Juan & Yang, Jinqiang, 2017. "Optimal capital structure and credit spread under incomplete information," International Review of Economics & Finance, Elsevier, vol. 49(C), pages 596-611.
  16. Bhanu Pratap Singh Thakur & M. Kannadhasan & Vinay Goyal, 2018. "Determinants of corporate credit spread: evidence from India," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 45(1), pages 59-73, March.
  17. Chowdhury, Rajib & Doukas, John A. & Park, Jong Chool, 2021. "Stakeholder orientation and the value of cash holdings: Evidence from a natural experiment," Journal of Corporate Finance, Elsevier, vol. 69(C).
  18. Qinghua Wang & Yaning Zhou & Li Luo & Junping Ji, 2019. "Research on the Factors Affecting the Risk Premium of China’s Green Bond Issuance," Sustainability, MDPI, vol. 11(22), pages 1-14, November.
  19. Houdou Basse Mama & Rachidi Kotchoni, 2017. "Investor Relations' Quality and Mispricing," EconomiX Working Papers 2017-33, University of Paris Nanterre, EconomiX.
  20. Li, Bin & Wang, Han & Ye, Yanyi, 2025. "Is carbon price uncertainty priced in the corporate bond yield spreads? Evidence from Chinese corporate bond markets," International Review of Financial Analysis, Elsevier, vol. 107(C).
  21. Khadija S. Almaghrabi & Kwaku Opong & Ioannis Tsalavoutas, 2021. "Compliance with pension‐related mandatory disclosures and debt financing," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(1-2), pages 148-184, January.
  22. Shen, Dehua & Chang, Yuyan & Goodell, John W. & Corbet, Shaen, 2025. "Does idiosyncratic volatility always reflect transparency? Evidence from Chinese equity and bond markets," International Review of Financial Analysis, Elsevier, vol. 97(C).
  23. Xiao, Zuoping & Zai, Jingjing & Su, Qiaoling, 2025. "Navigating through noise: Media's role in mitigating corruption's impact on bond markets in China," Research in International Business and Finance, Elsevier, vol. 79(C).
  24. Chen, Tsung-Kang & Liao, Hsien-Hsing & Kuo, Hui-Ju, 2013. "Internal liquidity risk, financial bullwhip effects, and corporate bond yield spreads: Supply chain perspectives," Journal of Banking & Finance, Elsevier, vol. 37(7), pages 2434-2456.
  25. Wagenvoort, Rien J.L.M. & Ebner, André & Morgese Borys, Magdalena, 2011. "A factor analysis approach to measuring European loan and bond market integration," Journal of Banking & Finance, Elsevier, vol. 35(4), pages 1011-1025, April.
  26. Zhao, Xuezhou & Fang, Libing & Zhang, Ke, 2023. "Online search attention, firms’ ESG and operating performance," International Review of Economics & Finance, Elsevier, vol. 88(C), pages 223-236.
  27. Guo, Liang, 2013. "Determinants of credit spreads: The role of ambiguity and information uncertainty," The North American Journal of Economics and Finance, Elsevier, vol. 24(C), pages 279-297.
  28. Chen, Tsung-Kang & Liao, Hsien-Hsing & Chen, Wei-Lun, 2014. "Production efficiency uncertainty and corporate credit risk: Structural form credit model perspectives," Journal of Empirical Finance, Elsevier, vol. 29(C), pages 266-280.
  29. Tsai, Feng-Tse & Lu, Hsin-Min & Hung, Mao-Wei, 2016. "The impact of news articles and corporate disclosure on credit risk valuation," Journal of Banking & Finance, Elsevier, vol. 68(C), pages 100-116.
  30. Tsung-Kang Chen & Yijie Tseng & Yu-Ting Hsieh, 2015. "Real Earnings Management Uncertainty and Corporate Credit Risk," European Accounting Review, Taylor & Francis Journals, vol. 24(3), pages 413-440, September.
  31. Robert Czech & Gábor Pintér, 2020. "Informed trading and the dynamics of client-dealer connections in corporate bond markets," Bank of England working papers 895, Bank of England.
  32. Chen, Yugang & Lu, Jihua & Ma, Weidong & Kumar, Satish & Shahab, Yasir, 2024. "Dispersion in news sentiment and M&As outcomes," Research in International Business and Finance, Elsevier, vol. 71(C).
  33. Li, Haoyang & Sun, Yanqi & Cai, Wei & Chen, Jingwei, 2025. "Do investors' site visits affect the price of bond issues?," Pacific-Basin Finance Journal, Elsevier, vol. 90(C).
  34. Almaghrabi, Khadija S. & Tsalavoutas, Ioannis, 2022. "Political spending, related voluntary disclosure, and the cost of public debt," Journal of Financial Stability, Elsevier, vol. 63(C).
  35. Nicodemus Simu,, 2017. "Determinants of Indonesian corporate bond yield," Business and Economic Horizons (BEH), Prague Development Center, vol. 13(5), pages 619-629, December.
  36. Hu, Xin & Zhu, Bo & Lin, Renda & Li, Xiru & Zeng, Lidan & Zhou, Sitong, 2024. "How does greenness translate into greenium? Evidence from China's green bonds," Energy Economics, Elsevier, vol. 133(C).
  37. Tessema, Abiot, 2019. "The impact of corporate governance and political connections on information asymmetry: International evidence from banks in the Gulf Cooperation Council member countries," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 35(C), pages 1-17.
  38. Demir Bektić & Tobias Regele, 2018. "Exploiting uncertainty with market timing in corporate bond markets," Journal of Asset Management, Palgrave Macmillan, vol. 19(2), pages 79-92, March.
  39. Andrade, Sandro C. & Bernile, Gennaro & Hood, Frederick M., 2014. "SOX, corporate transparency, and the cost of debt," Journal of Banking & Finance, Elsevier, vol. 38(C), pages 145-165.
  40. Ando, Sakai & Matsumura, Misaki, 2020. "Intensive margin of the Volcker rule: Price quality and welfare," Journal of Financial Intermediation, Elsevier, vol. 43(C).
  41. Jamal A. Al‐Khasawneh & Paul Dion & Naceur Essaddam & Tashfeen Hussain, 2023. "Is the cost of equity a mere function of leverage? The case of bond IPOs," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 58-78, January.
  42. Radi, Sherrihan & Gebka, Bartosz & Kallinterakis, Vasileios, 2024. "The wisdom of the madness of crowds: Investor herding, anti-herding, and stock-bond return correlation," Journal of Economic Behavior & Organization, Elsevier, vol. 224(C), pages 966-995.
  43. Liu, Haibo & Tang, Qihe, 2025. "Modeling and pricing credit risk with a focus on recovery risk," Journal of Banking & Finance, Elsevier, vol. 170(C).
  44. Deb, Pragyan & Koo, Bonsoo & Liu, Zijun, 2014. "Competition, premature trading and excess volatility," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 178-193.
  45. Tsung-Kang Chen & Hsien-Hsing Liao & Hsiao-Chun Huang, 2014. "Macroeconomic risks of supply chain counterparties and corporate bond yield spreads," Review of Quantitative Finance and Accounting, Springer, vol. 43(3), pages 463-481, October.
  46. Alam, Nurul & Boubaker, Sabri & Chen, Xiaomeng Charlene & Hasan, Mostafa Monzur, 2024. "Brand capital and debt choice," International Review of Financial Analysis, Elsevier, vol. 93(C).
  47. Mohammadreza Tavakoli Baghdadabad, 2025. "Accrual Quality, Cost of Debt, and Credit Spread and Loss," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 32(3), pages 893-951, September.
  48. Shijiao Cao & Jianqiong Wang, 2023. "Longitudinal accounting comparability and bond credit spreads: Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(2), pages 1953-1981, June.
  49. Gao, Yihong & Gao, Jiayan & Li, Haili, 2024. "Green credit regulation and market efficiency: A perspective of irrational trading," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 199-219.
  50. Su-Lien Lu & Kuo-Jung Lee, 2021. "Investigating the Determinants of Credit Spread Using a Markov Regime-Switching Model: Evidence from Banks in Taiwan," Sustainability, MDPI, vol. 13(17), pages 1-25, August.
  51. Xueying Zhang & Shansheng Gao & Jian Jiao, 2018. "Moral Hazard Effects of Corporate Bond Guarantee Purchases: Empirical Evidence from China," Journal of Economics and Behavioral Studies, AMH International, vol. 10(5), pages 100-115.
  52. Philippe Oster, 2020. "Contingent Convertible bond literature review: making everything and nothing possible?," Journal of Banking Regulation, Palgrave Macmillan, vol. 21(4), pages 343-381, December.
  53. Li, Yifei & Wang, Anni & Wu, Qun, 2024. "Navigate the turbulence: CEO extraversion and the cost of debt," Finance Research Letters, Elsevier, vol. 67(PB).
  54. Alex Petkevich & Andrew Prevost, 2018. "Managerial ability, information quality, and the design and pricing of corporate debt," Review of Quantitative Finance and Accounting, Springer, vol. 51(4), pages 1033-1069, November.
  55. Chen, Tsung-Kang & Tseng, Yijie & Hung, Yu-Shun & Huang, Mei-Ling, 2023. "Management efficiency uncertainty and its implications for bondholders," International Review of Economics & Finance, Elsevier, vol. 85(C), pages 73-92.
  56. Mizen, Paul & Tsoukas, Serafeim, 2012. "The response of the external finance premium in Asian corporate bond markets to financial characteristics, financial constraints and two financial crises," Journal of Banking & Finance, Elsevier, vol. 36(11), pages 3048-3059.
  57. García-Teruel, Pedro J. & Martínez-Solano, Pedro & Sánchez-Ballesta, Juan Pedro, 2014. "The role of accruals quality in the access to bank debt," Journal of Banking & Finance, Elsevier, vol. 38(C), pages 186-193.
  58. Shaofeng Zhang & Zheng Zou & Qinghua Zou, 2025. "Multi-scale quantile connectedness networks under fintech integration: evidence from China’s financial markets," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-16, December.
  59. Chuluun, Tuugi & Prevost, Andrew & Upadhyay, Arun, 2017. "Firm network structure and innovation," Journal of Corporate Finance, Elsevier, vol. 44(C), pages 193-214.
  60. Minghui Ma & Michaël Dewally & Jian Huang, 2017. "Marketing Strategy After Meeting Wall Street: The Role Of Information Asymmetry," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 40(3), pages 369-400, September.
  61. Kim, Hwa-Sung, 2020. "Investment decisions and debt financing under information uncertainty," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
  62. Sommeno, Tigist Woldetsadik & Mersland, Roy & Randøy, Trond, 2025. "The impact of debt: International versus local debt in microfinance organizations," Research in International Business and Finance, Elsevier, vol. 76(C).
  63. Chen, Tsung-Kang & Chen, Yan-Shing & Liao, Hsien-Hsing, 2011. "Labor unions, bargaining power and corporate bond yield spreads: Structural credit model perspectives," Journal of Banking & Finance, Elsevier, vol. 35(8), pages 2084-2098, August.
  64. Chen, Tsung-Kang & Liao, Hsien-Hsing & Kuo, Hui-Ju & Hsieh, Yu-Ling, 2013. "Suppliers’ and customers’ information asymmetry and corporate bond yield spreads," Journal of Banking & Finance, Elsevier, vol. 37(8), pages 3181-3191.
  65. Huang, Yin-Siang & Bui, Dien Giau & Lin, Chih-Yung & Robin,, 2022. "The effect of abnormal institutional attention on bank loans," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 76(C).
  66. Goldstein, Michael A. & Namin, Elmira Shekari, 2023. "Corporate bond liquidity and yield spreads: A review," Research in International Business and Finance, Elsevier, vol. 65(C).
  67. Huang, Xiaoyong & Yu, Cong & Chen, Yunping & Jia, Fei & Xu, Xiangyun, 2022. "Rigid payment breaking, default spread and yields of Chinese treasury bonds," The North American Journal of Economics and Finance, Elsevier, vol. 59(C).
  68. Chen, Tsung-Kang & Liao, Hsien-Hsing & Chi, Cheng-Ming, 2014. "The economic consequences of regulatory changes in employee stock options on corporate bond holders: SFAS No.123R and structural credit model perspectives," Journal of Banking & Finance, Elsevier, vol. 42(C), pages 381-394.
  69. Cao, Shijiao & Wang, Jianqiong & Zhou, Jianan, 2022. "Pricing like things alike: The role of financial statement comparability in bond pricing," International Review of Economics & Finance, Elsevier, vol. 79(C), pages 428-447.
  70. Alan V. S. Douglas & Alan G. Huang & Kenneth R. Vetzal, 2016. "Cash flow volatility and corporate bond yield spreads," Review of Quantitative Finance and Accounting, Springer, vol. 46(2), pages 417-458, February.
  71. Lyu, Huaili & Wang, Wenming & Xu, Si & Zhou, Jingting, 2022. "Individual investment bankers’ reputation concerns and bond yield spreads: Evidence from China," Journal of Banking & Finance, Elsevier, vol. 140(C).
  72. Namryoung Lee & Jaehong Lee, 2019. "External Financing, R&D Intensity, and Firm Value in Biotechnology Companies," Sustainability, MDPI, vol. 11(15), pages 1-18, July.
  73. Marco Bade & Martin Walther, 2021. "Local preferences and the allocation of attention in equity-based crowdfunding," Review of Managerial Science, Springer, vol. 15(8), pages 2501-2533, November.
  74. Onjewu, Adah-Kole Emmanuel & Walton, Nigel & Koliousis, Ioannis, 2023. "Blockchain agency theory," Technological Forecasting and Social Change, Elsevier, vol. 191(C).
  75. Fosu, Samuel & Danso, Albert & Ahmad, Wasim & Coffie, William, 2016. "Information asymmetry, leverage and firm value: Do crisis and growth matter?," International Review of Financial Analysis, Elsevier, vol. 46(C), pages 140-150.
  76. Gemmill, Gordon & Keswani, Aneel, 2011. "Downside risk and the size of credit spreads," Journal of Banking & Finance, Elsevier, vol. 35(8), pages 2021-2036, August.
  77. Pei-Gi Shu & Tsung-Kang Chen & Wen-Jye Hung, 2015. "Audit duration quality and client credit risk," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 22(2), pages 137-162, June.
  78. Wang, Qiping & Yiu Keung Lau, Raymond, 2024. "Social mood and M&A performance: An empirical investigation enhanced by multimodal analytics," Journal of Business Research, Elsevier, vol. 176(C).
  79. Hu, Xiaolu & Zhong, Angel & Cao, Youdan, 2022. "Greenium in the Chinese corporate bond market," Emerging Markets Review, Elsevier, vol. 53(C).
  80. Pervaiz Alam & Xiaoling Pu & Barry Hettler & Hai Lin, 2020. "The pricing of accruals quality in credit default swap spreads," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(3), pages 1943-1977, September.
  81. Wei Hao & Andrew Prevost & Udomsak Wongchoti, 2018. "Are Low Equity R2 Firms More or Less Transparent? Evidence from the Corporate Bond Market," Financial Management, Financial Management Association International, vol. 47(4), pages 865-909, December.
  82. Samuel Fosu & Henry Agyei‐Boapeah & Neytullah Ciftci, 2023. "Credit information sharing and cost of debt: Evidence from the introduction of credit bureaus in developing countries," The Financial Review, Eastern Finance Association, vol. 58(4), pages 783-810, November.
  83. Tsung-Kang Chen & Hsien-Hsing Liao & Wen-Hsuan Chen, 2017. "CEO ability heterogeneity, board’s recruiting ability and credit risk," Review of Quantitative Finance and Accounting, Springer, vol. 49(4), pages 1005-1039, November.
  84. Jia, Qiaoyu & Zhou, Jia'nan, 2024. "Does economic policy uncertainty influence executive compensation stickiness? Firm-level evidence from China," Economic Analysis and Policy, Elsevier, vol. 83(C), pages 562-582.
  85. Tsung-Kang Chen & Hsien-Hsing Liao, 2018. "Suppliers’/customers’ production efficiency uncertainty and firm credit risk," Review of Quantitative Finance and Accounting, Springer, vol. 50(2), pages 519-560, February.
  86. Miles Livingston & Lei Zhou, 2016. "Information Opacity And Fitch Bond Ratings," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 39(4), pages 329-358, December.
  87. Asis Kumar Sahu & Byomakesh Debata & Ştefan Cristian Gherghina, 2025. "Does Corporate Policy Risk Affect Stock Liquidity? Panel Data Evidence from Listed Companies in a Major Emerging Market," Economies, MDPI, vol. 13(2), pages 1-27, January.
  88. Kim, Karam & Ryu, Doojin & Yang, Heejin, 2021. "Information uncertainty, investor sentiment, and analyst reports," International Review of Financial Analysis, Elsevier, vol. 77(C).
  89. Mengyao Kang, 2022. "Credit rating downgrade risk and acquisition decisions," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(5-6), pages 1011-1073, May.
  90. Dirk Broeders & Marleen de Jonge & David Rijsbergen, 2024. "The European Carbon Bond Premium," Working Papers 798, DNB.
  91. Ruan, Qingsong & Li, Chengyu & Lv, Dayong & Wei, Xiaokun, 2025. "Going Green: Effect of green bond issuance on corporate debt financing costs," The North American Journal of Economics and Finance, Elsevier, vol. 75(PA).
  92. Barsotti, Flavia & Viva, Luca Del, 2015. "Performance and determinants of the Merton structural model: Evidence from hedging coefficients," Journal of Banking & Finance, Elsevier, vol. 58(C), pages 95-111.
  93. Arvid O. I. Hoffmann & Stefanie Kleimeier, 2021. "Financial disclosure readability and innovative firms' cost of debt," International Review of Finance, International Review of Finance Ltd., vol. 21(2), pages 699-713, June.
  94. Jankowitsch, Rainer & Nashikkar, Amrut & Subrahmanyam, Marti G., 2011. "Price dispersion in OTC markets: A new measure of liquidity," Journal of Banking & Finance, Elsevier, vol. 35(2), pages 343-357, February.
  95. Wei, Xiaokun & Ruan, Qingsong & Lv, Dayong & Wu, Youyi, 2022. "Transportation infrastructure and bond issuance credit spread: Evidence from the Chinese high-speed rail construction," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 30-47.
  96. Abad, Pilar & Ferreras, Rodrigo & Robles, M.-Dolores, 2020. "Information opacity and corporate bond returns: The dynamics of split ratings," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 68(C).
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