Publications

Publications

Filter Results: (350) Arrow Down

Show Results For

← Page 2 of 350 Results →
  • 2020
  • Working Paper

Corporate Leadership and Creditor Recovery Rates: Evidence from Executive Gender

By: Clarissa Hauptmann, Syrena Shirley and Anywhere Sikochi
We examine the relationship between the gender of executives and corporate creditor recovery rates. Using 2,288 defaulted debt instruments, we find that female executives are associated with higher creditor recovery rates. Our findings are robust to tests that correct... View Details
Keywords: Executive Gender; Default; Recovery Rates; Debt; Corporate Bonds; Conservatism; Leadership; Gender; Borrowing and Debt; Bonds; Risk Management
Related
  • Research Summary

What Makes the Bonding Stick? A Natural Experiment Testing the Legal Bonding Hypothesis

On March 29, 2010, the U.S. Supreme Court signaled its intention to geographically limit the reach of the U.S. securities antifraud regime and thus differentially exclude U.S.-listed foreign firms from the ambit of formal U.S. antifraud enforcement. We use this legal... View Details
Keywords: Securities Litigation; Corporate Governance
  • February 2023
  • Article

Disruption and Credit Markets

By: Bo Becker and Victoria Ivashina
We show that over the past half century innovative disruptions were central to understanding corporate defaults. In a given year, industries experiencing abnormally high VC or IPO activity subsequently see higher default rates, higher segment exits by conglomerates,... View Details
Keywords: Default; Corporate Bonds; Disruption; Corporate Finance; Bonds
Related
  • Research Summary

Characteristics of Corporate Bond Transactions: Evolution Through Time and Across Liquidity (with George Chacko, Marti Subrahmanyam, and Jeffrey Sutthoff)

The US corporate bond market is one of the most opaque, illiquid markets for corporate securities. Large, comprehensive bond databases are scarce, making it difficult to formally study and understand bond trading behavior. In this paper, we use a unique database of... View Details
  • Article

Reaching for Yield in the Bond Market

By: Bo Becker and Victoria Ivashina
Reaching for yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyzes this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details
Keywords: Fixed Income; Reaching For Yield; Financial Intermediation; Insurance Companies; Insurance; Assets; Bonds; Investment Return; Investment Portfolio; Risk Management; Insurance Industry
Related
  • 15 Jun 2012
  • Working Paper Summaries

Reaching for Yield in the Bond Market

Keywords: by Bo Becker & Victoria Ivashina
  • 2012
  • Working Paper

Reaching for Yield in the Bond Market

By: Bo Becker and Victoria Ivashina
Reaching-for-yield—the propensity to buy riskier assets in order to achieve higher yields—is believed to be an important factor contributing to the credit cycle. This paper analyses this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details
Keywords: Fixed Income; Reaching For Yield; Financial Intermediation; Insurance Companies; Insurance; Bonds; Assets; Risk Management; Investment Return; Investment Portfolio; Insurance Industry
Related
  • 12 Jan 2017
  • News

Bond Covenants and Skeptic Skepticism

  • Research Summary

Corporate Bond Pricing and Different Sources of Asset Return Volatility (with George Chacko and Jens Hilscher)

This paper presents a pricing model for defaultable bonds. Default is defined by a cash flow, not value, covenant. The cash flow (total distributions) yield is stochastic. We find that different sources of volatility, cash flow versus discount rate news, affect... View Details

    Reaching for Yield in the Bond Market

    Reaching-for-yield — the propensity to buy riskier assets in order to achieve higher yields — is believed to be an important factor contributing to the credit cycle. This paper analyses this phenomenon in the corporate bond market. Specifically, we show evidence for... View Details

    • April 2004
    • Tutorial

    Yield Curves and Bond Ratings Tutorial

    By: William E. Fruhan Jr.
    To preview this online product, Authorized Faculty can call our customer service department at 1-800-545-7685 or 617-783-7600. This online tutorial explains what drives the shape of the yield curve for traded debt securities. Also describes the metrics used by rating... View Details
    Keywords: Bonds; Investment Return; Financial Services Industry
    Related
    • 03 Jan 2019
    • Working Paper Summaries

    Financing the Response to Climate Change: The Pricing and Ownership of US Green Bonds

    Keywords: by Malcolm Baker, Daniel Bergstresser, George Serafeim, and Jeffrey Wurgler
    • Fast Answer

    Fixed Income Research: bond data, ratings, and reports

    Research Topics Suggested Resources Bond data FactSet A comprehensive platform used to analyze financial data from global fixed income markets. Individual accounts needed. Please see More Info page for instructions on signing up... View Details
    • 12 Nov 2014
    • News

    How to Make Corporate Boards More Effective

    • 13 Aug 2021
    • Research & Ideas

    Managers, Here’s How to Bond with New Hires Remotely

    productivity in a short amount of time,” the researchers write in their recent working paper Virtual Watercoolers: A Field Experiment on Virtual Synchronous Interactions and Performance of Organizational Newcomers. With corporate surveys... View Details
    Keywords: by Lane Lambert
    • 2013
    • Working Paper

    What Makes the Bonding Stick? A Natural Experiment Involving the U.S. Supreme Court and Cross-Listed Firms

    By: Amir N. Licht, Christopher Poliquin, Jordan I. Siegel and Xi Li
    On March 29, 2010, the U.S. Supreme Court signaled its intention to geographically limit the reach of the U.S. securities antifraud regime and thus differentially exclude U.S.-listed foreign firms from the ambit of formal U.S. antifraud enforcement. We use this legal... View Details
    Keywords: Crime and Corruption; International Finance; Investment; Corporate Governance; Governing Rules, Regulations, and Reforms; Courts and Trials; Legal Liability; United States
    Related
    • Article

    The Value of Trading Relations in Turbulent Times

    By: Marco Di Maggio, Amir Kermani and Zhaogang Song
    This paper investigates how dealers’ trading relations shape their trading behavior in the corporate bond market. Dealers charge lower spreads to dealers with whom they have the strongest ties and more so during periods of market turmoil. Systemically important dealers... View Details
    Keywords: OTC Markets; Network; Corporate Bonds; Crisis; Intermediation Chains; Leaning Against The Wind; Networks; Bonds; Behavior; Financial Crisis
    Related
    • 23 Apr 2014
    • Working Paper Summaries

    Corporate Financial Policies in Misvalued Credit Markets

    Keywords: by Jarrad Harford, Marc Martos-Vila & Matthew Rhodes-Kropf; Financial Services; Banking
    • March 2018 (Revised April 2018)
    • Case

    Morgan Stanley: Building Long-Term Sustainability

    By: Vikram S. Gandhi and Lynn Schenk
    This case focuses on the 10-year journey of one of the world's largest global financial institutions developing a sustainability strategy and integrating it across all of its business units. The case provides a deep dive into the challenges and successes of trying to... View Details
    Keywords: Finance; Sustainability; Green Bonds; ESG; Environmental Sustainability; Strategy; Business Units; Integration; Financial Institutions
    Related
    • 17 Aug 2006
    • Working Paper Summaries

    Corporate Governance and Networks: Bankers in the Corporate Networks of Brazil, Mexico, and the United States circa 1910

    Keywords: by Aldo Musacchio