Firm-specific information and the correlation between individual stocks and bonds

This paper examines the correlation between the returns on individual stocks and the yield changes of individual bonds issued by the same firm, and finds that they are negatively and contemporaneously correlated. This suggests that individual stocks and bonds are driven by firm-specific information...

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Veröffentlicht in:	Journal of financial economics 1996, Vol.40 (1), p.63-80
1. Verfasser:	Kwan, Simon H.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bonds Correlation analysis Economic models Financial economics Firm-specific information Lead-lag relationship Market efficiency Rates of return Regression analysis Stock prices Stock-bond relationship Stocks Studies
Online-Zugang:	Volltext
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