English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 95844/126434 (76%)
Visitors : 31574583      Online Users : 459
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/118858
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/118858

    Title: Risk and performance of bonds sponsored by private equity firms
    Authors: Cao, Xia-ping
    Chan, Ko-nan
    Kahle, Kathleen
    Contributors: 財管系
    Keywords: Bonds;Performance;Private equity;Leveraged buyouts;Credit rating
    Date: 2018-08
    Issue Date: 2018-07-24 16:16:23 (UTC+8)
    Abstract: The bond market is an important source of financing for Private Equity (PE) sponsored transactions. Using the methodology suggested by Bessembinder et al. (2009), we find that PE-sponsored bonds underperform comparable benchmarks. This is especially true for bonds with credit ratings below investment grade and those issued in hot bond markets. Furthermore, bonds sponsored by more experienced PE groups (PEGs) underperform bonds associated with less experienced PE groups, while bonds backed by investment bank-affiliated PEGs underperform bonds sponsored by other PEGs. These findings highlight the risk and return relationship in the high-yield bond market related to leveraged buyouts (LBOs) and PEGs.
    Relation: Journal of Banking & Finance,Volume 93, Pages 41-53
    Data Type: article
    DOI 連結: https://doi.org/10.1016/j.jbankfin.2018.05.018
    DOI: 10.1016/j.jbankfin.2018.05.018
    Appears in Collections:[財務管理學系] 期刊論文

    Files in This Item:

    File Description SizeFormat
    4153.pdf515KbAdobe PDF402View/Open

    All items in 政大典藏 are protected by copyright, with all rights reserved.

    社群 sharing

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback