Governance Mechanisms and Bond Prices

We investigate the effects of shareholder governance mechanisms on bondholders and document two new findings. First, the impact of shareholder control (proxied by large institutional blockholders) on credit risk depends on takeover vulnerability. Shareholder control is associated with higher (lower)...

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Veröffentlicht in:	The Review of financial studies 2007-09, Vol.20 (5), p.1359-1388
Hauptverfasser:	K. J. Martijn Cremers, Nair, Vinay B., Chenyang Wei
Format:	Artikel
Sprache:	eng
Schlagworte:	Bond issues Business structures Corporate bonds Corporate governance Financial bonds Financial leverage Financial portfolios Regression coefficients Shareholders Yield curves
Online-Zugang:	Volltext
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