An Empirical Investigation of New Bond Issue Yield Spreads, Default Risk and Split Ratings

This paper attempts to explain the yield spreads charged to new corporate debt issues by comparing the initial yields of a set of 3,287 securities issued over eleven years in the US. We use the measure of constant maturity Treasury rates on the day of issue against the Moody’s Aaa Corporate Bond ind...

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Bibliographic Details
Main Author: Timothy S. Michael
Format: Article
Language:English
Published: Universiti Utara Malaysia 2009-02-01
Series:International Journal of Banking and Finance
Online Access:https://www.scienceopen.com/document?vid=a378a732-55ae-4f77-973d-b81f50366e2a

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