Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5089305 | Journal of Banking & Finance | 2013 | 11 Pages |
Abstract
This study investigates the information asymmetry effects of suppliers and customers on a firm's bond yield spreads by employing American bond market data from 2001 to 2008. This study finds that both suppliers' and customers' information asymmetry effects significantly explain a firm's bond yield spreads. Besides, the information asymmetry effects of more important suppliers and customers are more significant than those of less important ones. The results are robust even after controlling for other well-known firm specific and economic variables.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Tsung-Kang Chen, Hsien-Hsing Liao, Hui-Ju Kuo, Yu-Ling Hsieh,