The maturity of debt issues and predictable variation in bond returns

Article Abstract:

The maturity of debt issues is found to be closely related to predictable variations in excess bond returns. When the share of long-term debt issues in total debt issues is large, future excess bond returns are low. This predictive power of inflation, real short-term rate and the term spread is discussed, and results are found to be in keeping with survey evidence that firms use debt market conditions to decide the lowest-cost maturity for borrowing.

Evaluation, Bonds, Bonds (Securities)

---

Appearing and disappearing dividends: the link to catering incentives

Article Abstract:

The practical relationship between the catering incentives and the propensity to pay dividends is examined. The four historical trends in the propensity to pay dividends through 1963 and 2000 and the corresponding changes observed in them with the fluctuations in catering incentives: the increase or decrease in the propensity to pay when stock market dividend premium is positive or negative respectively are analyzed.

Administration of General Economic Programs, Management dynamics, Dividends, Dividend Policy, Investment Incentives, Investment Incentives & Guarantees, Management, Influence, Company business management, Company dividends

---

Comovement

Article Abstract:

The variances in stock return in international trade from the study of comovement theories are examined.

Analysis, Stocks, Comparative analysis, International trade, Stock prices

Similar abstracts:

• Abstracts: The productivity impact of IT deployment: an empirical evaluation of ATM introduction. The determinants of corporate divestment: Evidence from a panel of UK firms
• Abstracts: The sufficiency of the `lens condition' for factor price equalization in the case of two factors. Quasi-specific factors: worker comparative advantage in the two-sector production model
• Abstracts: (s, S) equilibria in stochastic games. Dynamic variational preferences. Equilibria in large games with continuous procedures
• Abstracts: Managerial change, competition, and privatization in Ukraine. Bank discrimination in transition economies: ideology, information, or incentives?
• Abstracts: The distributional impact of health financing in Europe: a review. Conflict resolution and social protection in an era of globalisation: external dimensions to Europe's social policy

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.