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Analyzing Wealth Effects for Bondholders
Analyzing Wealth Effects for Bondholders
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📖 Book - PDF

Analyzing Wealth Effects for Bondholders

New Insight on Major Corporate Events from the Debtholders Perspective
Daniel Maul
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183 pages
language
English
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📖 Book - PDF

Analyzing Wealth Effects for Bondholders

New Insight on Major Corporate Events from the Debtholders Perspective
Daniel Maul
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About This Book

Despite the growing importance of funds through corporate bonds, most investigations on the short-term effects of certain events on firm value are only conducted for stocks. Thus, research provides an incomplete view on how firm value is truly affected. The author fills this gap and focuses his research on corporate debt. The first section of the book provides a comprehensive overview of existing methodologies to calculate abnormal bond returns. Subsequently, two frameworks are selected to investigate the importance of corporate debt when empirically assessing major corporate events: Synergy disclosure at M&A announcements and debt offerings through reopenings. Both provide evidence for the necessity to regard corporate debt to fully assess changes in firm value.

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Information

Publisher
Peter Lang
Year
2016
ISBN
9783653952575
Topic
Business
Subtopic
Finance
Edition
1

Table of contents