The Announcement Effect of Junk Bond Issues: an Analysis of the 1976-1989 Period
This paper analyzes the impact of corporate junk bond offering announcements on stock prices for a sample of 680 issues of below investment grade bonds, during the 1976-1989 period. The sample shows a -1.0% cumulative abnormal return (CAR) for a two day event window period, and the zero CAR hypothes...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Universidad de Chile
2001-03-01
|
| Series: | Estudios de Administración |
| Online Access: | https://estudiosdeadministracion.uchile.cl/index.php/EDA/article/view/56761 |