IDEAS home Printed from https://ideas.repec.org/a/prs/recofi/ecofi_0987-3368_1996_num_37_2_2272.html
   My bibliography  Save this article

La notation et le marché obligataire primaire en France

Author

Listed:
  • Jérôme Hubler
  • Philippe Raimbourg

Abstract

[eng] Rating and the french primary bond market . A linear multiple econometric study has been carried out in order to show and analyse the caracteristics of the relationship between the risk premium required by markets when issuing bonds and bond rating in France over the 1987-1993 period. These analyses show significant differences in risk premiums according to their rating. Moreover, they show that this relationship is unstable over time (1991 appears as a turning point), that it changes considerably according to the issue amount, and finally that it shows some differences according to the rating agency. [fre] Une étude économétrique multiple linéaire a été menée afin de mettre en évidence et d'analyser les caractéristiques de la relation entre la prime de risque exigée par le marché à l'émission et la notation des titres obligataires en France sur la période 1987-1993. Ces analyses font apparaître des écarts significatifs de prime de risque selon la note. De plus, elles montrent que cette relation est instable au cours du temps (l'année 1991 apparaissant comme une année charnière), qu'elle se modifie profondément selon le montant de l'émission et qu'elle présente quelques différences selon l'agence de notation.

Suggested Citation

  • Jérôme Hubler & Philippe Raimbourg, 1996. "La notation et le marché obligataire primaire en France," Revue d'Économie Financière, Programme National Persée, vol. 37(2), pages 171-187.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_1996_num_37_2_2272
    DOI: 10.3406/ecofi.1996.2272
    Note: DOI:10.3406/ecofi.1996.2272
    as

    Download full text from publisher

    File URL: https://doi.org/10.3406/ecofi.1996.2272
    Download Restriction: no
    File URL: https://www.persee.fr/doc/ecofi_0987-3368_1996_num_37_2_2272
    Download Restriction: no
    File URL: https://libkey.io/10.3406/ecofi.1996.2272?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hervé Alexandre & Maxime Merli, 2003. "Notations et écarts de rentabilité:le marché français avant l'euro," Revue Finance Contrôle Stratégie, revues.org, vol. 6(3), pages 5-22, September.
    2. repec:dau:papers:123456789/6185 is not listed on IDEAS
    3. Hervé Alexandre & Maxime Merli, 2000. "Rating and Spread:The French Market before Euro," Working Papers CREGO 1000304, Université de Bourgogne - CREGO EA7317 Centre de recherches en gestion des organisations, revised Sep 2002.

    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:prs:recofi:ecofi_0987-3368_1996_num_37_2_2272. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Equipe PERSEE (email available below). General contact details of provider: https://www.persee.fr/collection/ecofi .

    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.