Bank entry, competition, and the market for corporate securities underwriting
Article Abstract:
The competitive effect of commercial bank entry into the corporate debt underwriting market is examined, evaluating net benefits of Section 20 subsidiaries' entry into investment banking. The effects on ex-ante yield spreads, which sectors are most affected, and the effect of commercial bank entry on concentration in corporate debt underwriting markets, are discussed in detail. Underwriter spreads and ex-ante yields are found to have declined significantly with bank entry, with the effects most prominent in the lower-rated and smaller debt issues.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 1999
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Should corporate debt include a rating trigger?
Article Abstract:
A study on incorporation of rating trigger in corporate debt covenant is presented.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2006
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News spillovers in the sovereign debt market
Article Abstract:
The impact of credit ratings change on sovereign debt market is examined.
Publication Name: Journal of Financial Economics
Subject: Economics
ISSN: 0304-405X
Year: 2005
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