IDEAS home Printed from https://ideas.repec.org/a/eee/quaeco/v37y1997i3p709-724.html
   My bibliography  Save this article

Further evidence on corporate bonds with event-risk covenants: Inferences from Standard and Poor's and Moody's bond ratings

Author

Listed:
  • Bae, Sung C.
  • Klein, Daniel P.

Abstract

No abstract is available for this item.

Suggested Citation

  • Bae, Sung C. & Klein, Daniel P., 1997. "Further evidence on corporate bonds with event-risk covenants: Inferences from Standard and Poor's and Moody's bond ratings," The Quarterly Review of Economics and Finance, Elsevier, vol. 37(3), pages 709-724.
    • Handle: RePEc:eee:quaeco:v:37:y:1997:i:3:p:709-724
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1062-9769(97)90019-3
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Warga, Arthur & Welch, Ivo, 1993. "Bondholder Losses in Leveraged Buyouts," The Review of Financial Studies, Society for Financial Studies, vol. 6(4), pages 959-982.
    2. Crabbe, Leland, 1991. "Event Risk: An Analysis of Losses to Bondholders and "Super Poison Put" Bond Covenants," Journal of Finance, American Finance Association, vol. 46(2), pages 689-706, June.
    3. Thatcher, Janet Solverson, 1985. "The Choice of Call Provision Terms: Evidence of the Existence of Agency Costs of Debt," Journal of Finance, American Finance Association, vol. 40(2), pages 549-561, June.
    4. Liu, Pu & Moore, William T, 1987. "The Impact of Split Bond Ratings on Risk Premia," The Financial Review, Eastern Finance Association, vol. 22(1), pages 71-85, February.
    5. Kenneth Lehn & Annette Poulsen, 1989. "Free Cash Flow and Stockholder Gains in Going Private Transactions," Journal of Finance, American Finance Association, vol. 44(3), pages 771-787, July.
    6. Asquith, Paul, 1948- & Wizman, Thierry A., 1990. "Event risk, covenants, and bondholder returns in leveraged buyouts," Working papers WP 3173-90., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    7. Lamy, Robert E. & Thompson, G. Rodney, 1988. "Risk premia and the pricing of primary issue bonds," Journal of Banking & Finance, Elsevier, vol. 12(4), pages 585-601, December.
    8. Thompson, G Rodney & Vaz, Peter, 1990. "Dual Bond Ratings: A Test of the Certification Function of Rating Agencies," The Financial Review, Eastern Finance Association, vol. 25(3), pages 457-471, August.
    9. Asquith, Paul & Wizman, Thierry A., 1990. "Event risk, covenants, and bondholder returns in leveraged buyouts," Journal of Financial Economics, Elsevier, vol. 27(1), pages 195-213, September.
    10. repec:bla:jfinan:v:44:y:1989:i:3:p:771-87 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Billett, Matthew T. & Jiang, Zhan & Lie, Erik, 2010. "The effect of change-in-control covenants on takeovers: Evidence from leveraged buyouts," Journal of Corporate Finance, Elsevier, vol. 16(1), pages 1-15, February.
    2. Renneboog, L.D.R. & Simons, T., 2005. "Public-to-Private Transactions : LBOs, MBOs, MBIs and IBOs," Other publications TiSEM 3b76799c-591c-4d22-b126-a, Tilburg University, School of Economics and Management.
    3. Karl Okamoto & David Pedersen & Natalie Pedersen, 2011. "The Price Effects of Event‐Risk Protection: The Results from a Natural Experiment," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 8(4), pages 878-903, December.
    4. Ashbaugh-Skaife, Hollis & Collins, Daniel W. & LaFond, Ryan, 2006. "The effects of corporate governance on firms' credit ratings," Journal of Accounting and Economics, Elsevier, vol. 42(1-2), pages 203-243, October.
    5. Renneboog, Luc & Vansteenkiste, Cara, 2017. "Leveraged Buyouts : A Survey of the Literature," Discussion Paper 2017-015, Tilburg University, Center for Economic Research.
    6. Claudia Kocher & Hei Wai Lee & Karen Strandholm, 2010. "The Influence Of Market Conditions On Poison Put Use In Convertible Bonds," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 4(2), pages 13-26.
    7. Linn, Scott C. & Stock, Duane R., 2005. "The impact of junior debt issuance on senior unsecured debt's risk premiums," Journal of Banking & Finance, Elsevier, vol. 29(6), pages 1585-1609, June.
    8. Hong Li & Yuan Wang, 2016. "How do Corporate Governance Decisions Affect Bondholders?," Quarterly Journal of Finance (QJF), World Scientific Publishing Co. Pte. Ltd., vol. 6(03), pages 1-23, September.
    9. Renneboog, Luc & Simons, Tomas & Wright, Mike, 2007. "Why do public firms go private in the UK? The impact of private equity investors, incentive realignment and undervaluation," Journal of Corporate Finance, Elsevier, vol. 13(4), pages 591-628, September.
    10. Schauten, M.B.J. & van Dijk, D.J.C., 2010. "Corporate Governance and the Cost of Debt of Large European Firms," ERIM Report Series Research in Management ERS-2010-025-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    11. Easterwood, John C., 1998. "Divestments and financial distress in leveraged buyouts," Journal of Banking & Finance, Elsevier, vol. 22(2), pages 129-159, February.
    12. Sung C. Bae & Daniel P. Simet, 1998. "A comparative analysis of leveraged recapitalization versus leveraged buyout as a takeover defense," Review of Financial Economics, John Wiley & Sons, vol. 7(2), pages 157-172.
    13. Francis, Bill B. & Hasan, Iftekhar & John, Kose & Waisman, Maya, 2010. "The effect of state antitakeover laws on the firm's bondholders," Journal of Financial Economics, Elsevier, vol. 96(1), pages 127-154, April.
    14. Richard Cantor & Kevin Cole & Frank Packer, 1997. "Split ratings and the pricing of credit risk," Research Paper 9711, Federal Reserve Bank of New York.
    15. Bae, Sung C. & Simet, Daniel P., 1998. "A comparative analysis of leveraged recapitalization versus leveraged buyout as a takeover defense," Review of Financial Economics, Elsevier, vol. 7(2), pages 157-172.
    16. Maul, D. & Schiereck, D., 2017. "The bond event study methodology since 1974," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 80723, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    17. Eisenthal-Berkovitz, Yael & Feldhütter, Peter & Vig, Vikrant, 2020. "Leveraged buyouts and bond credit spreads," Journal of Financial Economics, Elsevier, vol. 135(3), pages 577-601.
    18. Luc Renneboog & Peter G. Szilagyi, 2008. "Corporate Restructuring and Bondholder Wealth," European Financial Management, European Financial Management Association, vol. 14(4), pages 792-819, September.
    19. Khalil, Samer & Mansi, Sattar & Mazboudi, Mohamad & Zhang, Andrew (Jianzhong), 2019. "Information asymmetry and the wealth appropriation effect in the bond market: Evidence from late disclosures," Journal of Business Research, Elsevier, vol. 95(C), pages 49-61.
    20. Hamid Mehran & Stavros Peristiani, 2010. "Financial Visibility and the Decision to Go Private," The Review of Financial Studies, Society for Financial Studies, vol. 23(2), pages 519-547, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:quaeco:v:37:y:1997:i:3:p:709-724. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620167 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.