Optimal Bond Refunding: Evidence From the Municipal Bond Market
This dissertation empirically examines refunding decisions employed by issuers of tax-exempt bonds. Callable bonds contain embedded call options by virtue of provisions in bond indentures that permit the issuing firm to buy back the bond at a predetermined strike price. Such an embedded American cal...
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Virginia Tech
2014
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| Online Access: | http://hdl.handle.net/10919/40526 http://scholar.lib.vt.edu/theses/available/etd-8497-93558/ |