Jong, A. de; Roosenboom, P.G.J.; Schramade, W.L.J. - Erasmus Research Institute of Management (ERIM), ERIM … - 2005
We examine fees on bonds issued by Japanese corporations during the 1994-2002 period. We relate fees to firms’ membership of bank-led (financial) keiretsu. For the full sample of firms, we establish a positive relation between fees and risk factors. Over time, we find that fees have...