Add to ORKGWe identify the call premium in nonconvertible callable bonds as an effective contracting provision to address agency conflict due to reinvestment risk and credit rating improvements. We analyze 4,495 bonds issued between 1980 and 2012. When interest rates are high, a majority of investment-grade issues and almost the entire subset with long maturities (\u3e20 years) include a call premium. When interest rates are low, virtually all investment-grade issues with long and short maturities are callable at par. High-yield issues are limited to short maturities. By about 4:1, they include a call premium regardless of interest rate levels
This paper studies the valuation and risk management of callable, defaultable bonds when both intere...
We empirically analyze the factors affecting corporate decisions to call non-convertible bonds using...
This paper empirically investigates high-yield bond default and call behavior using a competing risk...
We identify the call premium in nonconvertible callable bonds as an effective contracting provision ...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
We examine the choice and the offer spreads between callable and non-callable bonds. We find signifi...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
The literature states that ordinary callable bonds help resolve several agency issues while make who...
The literature states that ordinary callable bonds help resolve several agency issues while make who...
This article has been made available through the Brunel Open Access Publishing Fund.We examine the c...
A callable bond is a bond in which the issuer has the right to call the bond at specified times from...
A callable bond is a bond in which the issuer has the right to call the bond at specified times from...
Until 1984, the U.S. Treasury typically issued its long-term bonds in callable form. A number of the...
This paper studies the valuation and risk management of callable, defaultable bonds when both intere...
We empirically analyze the factors affecting corporate decisions to call non-convertible bonds using...
This paper empirically investigates high-yield bond default and call behavior using a competing risk...
We identify the call premium in nonconvertible callable bonds as an effective contracting provision ...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
We examine the choice and the offer spreads between callable and non-callable bonds. We find signifi...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
International audienceThis paper presents an empirical analysis on U.S. callable defaultable bonds w...
The literature states that ordinary callable bonds help resolve several agency issues while make who...
The literature states that ordinary callable bonds help resolve several agency issues while make who...
This article has been made available through the Brunel Open Access Publishing Fund.We examine the c...
A callable bond is a bond in which the issuer has the right to call the bond at specified times from...
A callable bond is a bond in which the issuer has the right to call the bond at specified times from...
Until 1984, the U.S. Treasury typically issued its long-term bonds in callable form. A number of the...
This paper studies the valuation and risk management of callable, defaultable bonds when both intere...
We empirically analyze the factors affecting corporate decisions to call non-convertible bonds using...
This paper empirically investigates high-yield bond default and call behavior using a competing risk...