Seminar: The costs of issuing corporate bonds
- Monday, April 1, 2019 from 4:30pm to 5:00pm
- Jake Jabs Hall, 311 - view map
Please join us for
The costs of issuing corporate bonds.
a seminar presented by Lisa Yang, Research Grantee
Initiative for Regulation and Applied Economic Analysis
April 1, 2019 at 4:30 p.m., Jake Jabs College of Business & Entrepreneurship, Rm. 311
This research provides comprehensive evidence of systematic underpricing for corporate bonds. These bonds are offered at prices significantly below their immediate post-offer secondary market prices. We also find significant underpricing of very highly rated bond offerings and the underpricing increases as credit worthiness declines. We also test existing underpricing theories and find evidence supporting the valuation uncertainty and information asymmetry hypothesis.
Dr. Lisa Yang is an Assistant Professor of Business Finance in the Jake Jabs College of Business & Entrepreneurship at Montana State.