87
Views
2
CrossRef citations to date
0
Altmetric
Original Articles

Defining the level of abnormal return underperformance that exists for issuers of high-yield bonds

Pages 779-794 | Published online: 22 Apr 2009

References

  • Affleck-Graves , J and Miller , R . 2003 . The information content of calls of debt: evidence from long-run stock returns . Journal of Financial Research , 27 : 421 – 47 .
  • Barber , B and Lyon , J . 1997 . Detecting long-run abnormal stock returns: the empirical power and specification of test statistics . Journal of Financial Economics , 43 : 341 – 72 .
  • Brav , A , Geczy , C and Gompers , P . 2000 . Is the abnormal return following equity issuance anomalous? . Journal of Financial Economics , 56 : 209 – 49 .
  • Datta , S , Iskandar , M and Raman , K . 2000 . Debt structure adjustments and long-run stock price performance . Journal of Financial Intermediation , 9 : 427 – 53 .
  • Dichev , I and Piotroski , J . 1999 . The performance of long-run stock returns following issues of public and private debt . Journal of Business Finance and Accounting , 26 : 1103 – 32 .
  • Dichev , I and Piotroski , J . 2001 . The long-run stock returns following bond rating changes . Journal of Finance , 56 : 173 – 203 .
  • Fama , E . 1998 . Market efficiency, long-run returns and behavioral finance . Journal of Financial Economics , 49 : 283 – 96 .
  • Fama , E and French , K . 1992 . Common risk factors in the returns on stocks and bonds . Journal of Financial Economics , 33 : 3 – 56 .
  • Fama , E and French , K . 1996 . Multifactor explanations of asset pricing anomalies . Journal of Finance , 51 : 131 – 55 .
  • Fama , E , Fisher , L , Jensen , M and Roll , R . 1969 . The adjustment of stock prices to new information . International Economic Review , February : 1 – 21 .
  • Ikenberry , D , Lakonishok , D and Vermaelen , T . 1995 . Market underreaction to open market share repurchases . Journal of Financial Economics , 39 : 181 – 208 .
  • Jewel , J and Livingston , M . 1997 . The long-run performance of firms issuing bonds . Journal of Fixed Income , 7 : 61 – 6 .
  • King , R and Mauer , D . 2000 . Corporate call policy for nonconvertible bonds . Journal of Business , 73 : 403 – 44 .
  • Kish , R and Livingston , M . 1992 . Determinants of the call option on corporate bonds . Journal of Banking and Finance , 16 : 687 – 703 .
  • Krishnaswami , S , Spindt , P and Subramaniam , V . 1999 . Information asymmetry, monitoring and the placement structure of corporate debt . Journal of Financial Economics , 51 : 407 – 34 .
  • Lee , I and Loughran , T . 1998 . Performance following convertible debt issuance . Journal of Corporate Finance , 4 : 185 – 207 .
  • Loughran , T . 1993 . NYSE versus NASDAQ returns: market microstructure or the poor performance of IBOs? . Journal of Financial Economics , 33 : 241 – 60 .
  • Loughran , T and Ritter , J . 1995 . The new issues puzzle . Journal of Finance , 50 : 23 – 51 .
  • Loughran , T and Ritter , J . 2000 . Uniformity least powerful tests of market efficiency . Journal of Financial Economics , 55 : 361 – 89 .
  • Lyon , J , Barber , B and Tsai , C . 1999 . Improved methods for tests of long-run abnormal stock returns . Journal of Finance , 54 : 165 – 201 .
  • Mitchell , M and Stafford , E . 2000 . Managerial decisions and long-term stock price performance . Journal of Business , 73 : 287 – 329 .
  • Ritter , J . 1991 . The long-run performance of initial public offerings . Journal of Finance , 46 : 3 – 27 .
  • Spiess , K and Affleck-Graves , J . 1995 . Underperformance in long-run stock returns following seasoned equity offerings . Journal of Financial Economics , 38 : 243 – 67 .
  • Spiess , K and Affleck-Graves , J . 1999 . The long-run stock performance of stock returns following debt offerings . Journal of Financial Economics , 54 : 45 – 73 .
  • White , H . 1980 . A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity . Econometrica , 48 : 817 – 38 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.