Analyzing Wealth Effects for Bondholders: New Insight on Major Corporate Events from the Debtholders' Perspective

Author:   Daniel Maul
Publisher:   Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Volume:   20
ISBN:  

9783653064261


Pages:   183
Publication Date:   11 March 2016
Format:   Electronic book text
Availability:   In stock   Availability explained
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Analyzing Wealth Effects for Bondholders: New Insight on Major Corporate Events from the Debtholders' Perspective


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Overview

Despite the growing importance of funds through corporate bonds, most investigations on the short-term effects of certain events on firm value are only conducted for stocks. Thus, research provides an incomplete view on how firm value is truly affected. The author fills this gap and focuses his research on corporate debt. The first section of the book provides a comprehensive overview of existing methodologies to calculate abnormal bond returns. Subsequently, two frameworks are selected to investigate the importance of corporate debt when empirically assessing major corporate events: Synergy disclosure at M&A announcements and debt offerings through reopenings. Both provide evidence for the necessity to regard corporate debt to fully assess changes in firm value.

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Author:   Daniel Maul
Publisher:   Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Imprint:   Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
Volume:   20
ISBN:  

9783653064261


ISBN 10:   3653064260
Pages:   183
Publication Date:   11 March 2016
Audience:   General/trade ,  General
Format:   Electronic book text
Publisher's Status:   Active
Availability:   In stock   Availability explained
We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately.

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Daniel Maul studied Business Administration and Engineering (Wirtschaftsingenieurwesen) at Darmstadt University of Technology. He worked as a research and teaching assistant at the Chair of Corporate Finance.

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