Two-Step Esitmation of Linear Models with Ordinal Unoberved Variables: The Case of Corporate Bonds

• المؤلفون الرئيسيون: WU, Chunchi, Kao, C.
• التنسيق: text
• اللغة: English
• منشور في: Institutional Knowledge at Singapore Management University 1990
• الموضوعات: Business
• الوصول للمادة أونلاين: https://ink.library.smu.edu.sg/lkcsb_research/815
• المؤسسة: Singapore Management University

This article proposes a two-step method for estimating the impact of bond indenture provisions and other financial variables on the risk and yields of investment-grade and speculative corporate bonds. In the first step, the default risk of bonds is estimated as a function of indenture provisions and...