The Market for Borrowing Corporate Bonds

This paper describes the market for borrowing corporate bonds using a comprehensive dataset from a major lender. The cost of borrowing corporate bonds is comparable to the cost of borrowing stock, between 10 and 20 basis points per year. Factors that increase borrowing costs are loan size, percentag...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	NBER Working Paper Series 2010-08, p.16282
Hauptverfasser:	Pathak, Parag A, Au, Andrea, Asquith, Paul, Covert, Thomas R
Format:	Artikel
Sprache:	eng
Schlagworte:	Asset Pricing Bond markets Borrowing Corporate bonds Costs Credit default swaps Economic theory Hypotheses Inventory Loans Securities industry Short sales Stock exchanges Stocks
Online-Zugang:	Volltext
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