The impacts of liquidity measures and credit rating on corporate bond yield spreads: evidence from China’s green bond market

2020 ◽  
pp. 1-12
Author(s):  
Kai Chang ◽  
Yan Ling Feng ◽  
Wang Liu ◽  
Ning Lu ◽  
Sheng Ze Li
Keyword(s):  
Credit Rating ◽  
Bond Market ◽  
Corporate Bond ◽  
Yield Spreads ◽  
Bond Yield ◽  
Liquidity Measures

Cash Flow Volatility and Corporate Bond Yield Spreads

2008 ◽  
Author(s):  
Kenneth R. Vetzal ◽  
Alan V. S. Douglas ◽  
Alan Guoming Huang
Keyword(s):  
Cash Flow ◽  
Corporate Bond ◽  
Yield Spreads ◽  
Bond Yield ◽  
Cash Flow Volatility

Are Short Sellers Informed? Evidence from the Bond Market

2012 ◽  
Vol 88 (2) ◽  
pp. 611-639 ◽  
Author(s):  
Ambrus Kecskés ◽  
Sattar A. Mansi ◽  
Andrew (Jianzhong Zhang
Keyword(s):  
Natural Experiment ◽  
Equity Market ◽  
Bond Market ◽  
Data Availability ◽  
Publicly Traded ◽  
Yield Spreads ◽  
Short Sellers ◽  
Bond Yield ◽  
Lehman Brothers ◽  
Short Interest

ABSTRACT We examine whether short sellers in the equity market provide valuable information to investors in the bond market. Using a sample of publicly traded bond data covering the period from 1988 to 2011, we find that firms with high short interest have lower credit ratings and are more likely to have their ratings downgraded. We also find that firms with highly shorted stocks are associated with higher bond yield spreads (about 24 basis points). Evidence of causality from short interest spikes and a natural experiment based on the SEC's Regulation SHO pilot program confirms our findings. Overall, our results suggest that equity short sellers provide predictive information to creditors in the bond market. JEL Classifications: G12; G14. Data Availability:  Data are publicly available from the sources identified in the study with the exception of the bond data from Lehman Brothers, which is a proprietary dataset.

Suppliers’ and customers’ information asymmetry and corporate bond yield spreads

2013 ◽  
Vol 37 (8) ◽  
pp. 3181-3191 ◽  
Author(s):  
Tsung-Kang Chen ◽  
Hsien-Hsing Liao ◽  
Hui-Ju Kuo ◽  
Yu-Ling Hsieh
Keyword(s):  
Information Asymmetry ◽  
Corporate Bond ◽  
Yield Spreads ◽  
Bond Yield

Monetary policy and corporate bond yield spreads

2010 ◽  
Vol 17 (12) ◽  
pp. 1139-1144 ◽  
Author(s):  
David Beckworth ◽  
Kenneth P. Moon ◽  
J. Holland Toles
Keyword(s):  
Monetary Policy ◽  
Corporate Bond ◽  
Yield Spreads ◽  
Bond Yield
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