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On the Seasoning Process of New Bonds: Some Are More Seasoned than Others.
- Source :
- Journal of Financial & Quantitative Analysis; Jun82, Vol. 17 Issue 2, p195-208, 14p
- Publication Year :
- 1982
-
Abstract
- The article reports on two aspects of the equilibrium pricing of new and seasoned bonds. The first aspect is the analysis of the microeconomic determinants of newly issued or seasoned issue yield spreads like differences in coupon rates and call features. The second is the analysis of the macroeconomic determinants of yield spreads like economic growth, interest rate cycles, and changing marginal tax rates. The analysis includes multiple regression analysis to fit yield data for a sample of new corporate bonds.
- Subjects :
- BONDS (Finance)
BOND market
CORPORATE bonds
INVESTMENTS
REGRESSION analysis
Subjects
Details
- Language :
- English
- ISSN :
- 00221090
- Volume :
- 17
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- Journal of Financial & Quantitative Analysis
- Publication Type :
- Academic Journal
- Accession number :
- 5721128
- Full Text :
- https://doi.org/10.2307/2330845