haku: @indexterm international capital market / yhteensä: 53
viite: 7 / 53
| Tekijä: | Bonds, Y. Miller, D. P. Puthenpurackal, J. J. |
| Otsikko: | The Costs, Wealth Effects, and Determinants of International Capital Raising: Evidence from Public |
| Lehti: | Journal of Financial Intermediation
2002 : OCT, VOL. 11:4, p. 455-485 |
| Asiasana: | BONDS CAPITAL INTERNATIONAL CAPITAL MARKET COSTS |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the costs, wealth effects, and determinants of international capital raising for a sample of 260 public debt issues made by non-U.S. firms in the Yankee bond market. The authors find that investors demand economically significant premiums on bonds issued, by firms that are located in countries that do not protect investors' rights and do not have a prior history of ongoing disclosure. The results provide support for the literature that suggests better legal protections and more detailed information disclosure increases the price investors will pay for financial assets. The paper provides a substantial list of references on this subject. |
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