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http://bura.brunel.ac.uk/handle/2438/9733
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DC Field | Value | Language |
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dc.contributor.author | Booth, L | - |
dc.contributor.author | Gounopoulos, D | - |
dc.contributor.author | Skinner, F | - |
dc.date.accessioned | 2015-01-14T10:39:22Z | - |
dc.date.available | 2014-12-01 | - |
dc.date.available | 2015-01-14T10:39:22Z | - |
dc.date.issued | 2014 | - |
dc.identifier.citation | Journal of Financial Research, 37:4, pp. 435 - 460, 2014 | en_US |
dc.identifier.issn | 0270-2592 | - |
dc.identifier.uri | http://onlinelibrary.wiley.com/doi/10.1111/jfir.12042/abstract;jsessionid=66C6A627512236D4661CC405C7569A98.f03t02 | - |
dc.identifier.uri | http://bura.brunel.ac.uk/handle/2438/9733 | - |
dc.description | This article has been made available through the Brunel Open Access Publishing Fund. | - |
dc.description.abstract | We examine the choice and the offer spreads between callable and noncallable bonds. We find significant differences by industry sector and therefore segment our results by financial and nonfinancial industries. For the financial sector, the popularity of callable and noncallable bonds is significantly related to the economic environment. Financial and high-grade nonfinancial callable bonds are also more likely to be issued via a shelf prospectus. Although firms that issue callable bonds do not consistently display the characteristics associated with severe agency problems, the issue choice for below-investment-grade nonfinancial and lower rated financial bonds, where we can expect agency problems to be more severe, is more consistent with agency theory than is the issue choice for higher rated bonds. | en_US |
dc.language | eng | - |
dc.language.iso | en | en_US |
dc.publisher | Blackwell Publishing Ltd | en_US |
dc.subject | callable and noncallable bonds | en_US |
dc.subject | financial and nonfinancial industries | en_US |
dc.subject | financial bonds | en_US |
dc.title | The Choice Between Callable And Noncallable Bonds | en_US |
dc.type | Article | en_US |
dc.identifier.doi | http://dx.doi.org/10.1111/jfir.12042 | - |
dc.relation.isPartOf | Journal of Financial Research | - |
dc.relation.isPartOf | Journal of Financial Research | - |
pubs.organisational-data | /Brunel | - |
pubs.organisational-data | /Brunel/Brunel Staff by College/Department/Division | - |
pubs.organisational-data | /Brunel/Brunel Staff by College/Department/Division/College of Business, Arts and Social Sciences | - |
pubs.organisational-data | /Brunel/Brunel Staff by College/Department/Division/College of Business, Arts and Social Sciences/Dept of Economics and Finance | - |
pubs.organisational-data | /Brunel/Brunel Staff by College/Department/Division/College of Business, Arts and Social Sciences/Dept of Economics and Finance/Economics and Finance | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/Brunel Business School - URCs and Groups | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/Brunel Business School - URCs and Groups/Centre for Research into Entrepreneurship, International Business and Innovation in Emerging Markets | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Health Sciences and Social Care - URCs and Groups | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Health Sciences and Social Care - URCs and Groups/Brunel Institute for Ageing Studies | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Health Sciences and Social Care - URCs and Groups/Brunel Institute of Cancer Genetics and Pharmacogenomics | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Health Sciences and Social Care - URCs and Groups/Centre for Systems and Synthetic Biology | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Information Systems, Computing and Mathematics - URCs and Groups | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Information Systems, Computing and Mathematics - URCs and Groups/Multidisclipary Assessment of Technology Centre for Healthcare (MATCH) | - |
Appears in Collections: | Brunel OA Publishing Fund Dept of Economics and Finance Research Papers |
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Fulltext.doc | 694 kB | Microsoft Word | View/Open |
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