Informational Efficiency of Loans versus Bonds: Evidence from Secondary Market Prices

This paper examines the informational efficiency of loans relative to bonds surrounding loan default dates and bond default dates. We examine this issue using a unique dataset of daily secondary market prices of loans over the11/1999-06/2002 period.(...)

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Year of publication:	2003-10-01
Authors:	Altman, Edward ; Gande, Amar ; Saunders, Anthony
Publisher:	Salomon Center <New York, NY>
Subject:	Kredit \| Informationseffizienz \| Anleihe \| Stillstandkosten \| default

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Extent:	317440 bytes 52 p. application/pdf
Series:	NYU Salomon Center for the Study of Financial Institutions - Publications Arbeitspapier - NYU Salomon Center for the Study of Financial Institutions - Financial Institutions ; S-FI-03-14
Type of publication:	Book / Working Paper
Language:	English
Classification:	G21 - Banks; Other Depository Institutions; Mortgages ; G24 - Investment Banking; Venture Capital; Brokerage ; N22 - U.S.; Canada: 1913- ; Financial theory ; Management of financial services: stock exchange and bank management science (including saving banks) ; Individual Working Papers, Preprints ; USA
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005846906