Corporate bond mutual funds and asset fire sales

Corporate bond mutual funds engage in liquidity transformation, raising concerns among academics and policy makers that large redemptions will lead to asset fire sales. We find little evidence, however, that bond fund redemptions drive fire sale price pressure after controlling for time-varying issu...

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Veröffentlicht in:	Journal of financial economics 2020-11, Vol.138 (2), p.432-457
Hauptverfasser:	Choi, Jaewon, Hoseinzade, Saeid, Shin, Sean Seunghun, Tehranian, Hassan
Format:	Artikel
Sprache:	eng
Schlagworte:	Academic staff Asset fire sales Assets Bond funds Bond repurchasing Business schools Corporate bond mutual funds Corporate bonds Economic crisis Equity funds Financial institutions Financial management Financial markets Investors Liquidity Liquidity management Mutual funds Policy making Redemption Sales Seminars Stock funds Strategic planning (Business) Trading Transformation
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