Suppliers' and customers' information asymmetry and corporate bond yield spreads

Tsung-Kang Chen, Hsien Hsing Liao*, Hui Ju Kuo, Yu Ling Hsieh

*此作品的通信作者

研究成果: Article同行評審

20 引文 斯高帕斯(Scopus)

摘要

This study investigates the information asymmetry effects of suppliers and customers on a firm's bond yield spreads by employing American bond market data from 2001 to 2008. This study finds that both suppliers' and customers' information asymmetry effects significantly explain a firm's bond yield spreads. Besides, the information asymmetry effects of more important suppliers and customers are more significant than those of less important ones. The results are robust even after controlling for other well-known firm specific and economic variables.

原文English
頁(從 - 到)3181-3191
頁數11
期刊Journal of Banking and Finance
37
發行號8
DOIs
出版狀態Published - 8月 2013

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