Kwan, Simon H. (contributor); … - 2004
examined the choice between private and public
debt, including Houston and James (1996), Krishnaswami, Spindt, and Subramaniam … been enforced by the NAIC
for a long time, the current rating system, which corresponds to public debt ratings as shown … Switcher is significantly negative. The
finding suggests that firms that access the public debt market pay significantly less …