Cross Sectional Variation of the Effect of Bond Rating Changes on Stock Prices
Previous research has found that the stock market reacts negatively to bond rating downgrades and that downgrades tend to follow periods of negative returns, indicating that at least some downgrades are partially predictable. Hypothesizing that the reaction to a downgrade depends on both the implica...
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| 格式: | text |
| 語言: | English |
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Institutional Knowledge at Singapore Management University
1999
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| 在線閱讀: | https://ink.library.smu.edu.sg/lkcsb_research/1271 https://ink.library.smu.edu.sg/context/lkcsb_research/article/2270/viewcontent/Cross_Sectional_Variation_1999_pv.pdf |
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