Matches in SemOpenAlex for { <https://semopenalex.org/work/W2073543145> ?p ?o ?g. }
Showing items 1 to 96 of
96
with 100 items per page.
- W2073543145 endingPage "473" @default.
- W2073543145 startingPage "461" @default.
- W2073543145 abstract "With a make-whole call, the call price is calculated as the maximum of the par value and the present value of the bond's remaining payments discounted at the prevailing risk-free rate plus a pre-specified spread known as the make-whole premium. The commonly accepted thumb rule in the investment banking community is to set the make-whole premium at 15% of the at-issue credit spread. Using a standard structural model, we calculate the optimal make-whole call premium, i.e. the make-whole premium that maximizes the ex-ante firm value subject to managers following a second-best call policy that maximizes the ex-post equity value. For reasonable parameterizations, optimal make-whole premiums are relatively close to 15% of the model-generated credit spread. Thus, the 15% thumb rule provides surprisingly good guidance for setting make-whole call premiums." @default.
- W2073543145 created "2016-06-24" @default.
- W2073543145 creator A5027943703 @default.
- W2073543145 creator A5041086372 @default.
- W2073543145 date "2013-03-01" @default.
- W2073543145 modified "2023-09-23" @default.
- W2073543145 title "Setting the optimal make-whole call premium" @default.
- W2073543145 cites W1969900287 @default.
- W2073543145 cites W1970043555 @default.
- W2073543145 cites W1971370451 @default.
- W2073543145 cites W1996029473 @default.
- W2073543145 cites W1998784824 @default.
- W2073543145 cites W2005308140 @default.
- W2073543145 cites W2029114335 @default.
- W2073543145 cites W2095686833 @default.
- W2073543145 cites W2102380423 @default.
- W2073543145 cites W2106605532 @default.
- W2073543145 cites W2111430741 @default.
- W2073543145 cites W2172269049 @default.
- W2073543145 cites W3122666528 @default.
- W2073543145 cites W3124800418 @default.
- W2073543145 cites W3125388642 @default.
- W2073543145 cites W3125744792 @default.
- W2073543145 cites W3125781839 @default.
- W2073543145 cites W3125988620 @default.
- W2073543145 cites W4249929133 @default.
- W2073543145 cites W4361851987 @default.
- W2073543145 doi "https://doi.org/10.1080/09603107.2012.727972" @default.
- W2073543145 hasPublicationYear "2013" @default.
- W2073543145 type Work @default.
- W2073543145 sameAs 2073543145 @default.
- W2073543145 citedByCount "6" @default.
- W2073543145 countsByYear W20735431452012 @default.
- W2073543145 countsByYear W20735431452019 @default.
- W2073543145 countsByYear W20735431452020 @default.
- W2073543145 countsByYear W20735431452021 @default.
- W2073543145 crossrefType "journal-article" @default.
- W2073543145 hasAuthorship W2073543145A5027943703 @default.
- W2073543145 hasAuthorship W2073543145A5041086372 @default.
- W2073543145 hasConcept C106159729 @default.
- W2073543145 hasConcept C11413529 @default.
- W2073543145 hasConcept C119857082 @default.
- W2073543145 hasConcept C122251271 @default.
- W2073543145 hasConcept C139719470 @default.
- W2073543145 hasConcept C149782125 @default.
- W2073543145 hasConcept C151541453 @default.
- W2073543145 hasConcept C162118730 @default.
- W2073543145 hasConcept C162324750 @default.
- W2073543145 hasConcept C175444787 @default.
- W2073543145 hasConcept C17744445 @default.
- W2073543145 hasConcept C199539241 @default.
- W2073543145 hasConcept C27548731 @default.
- W2073543145 hasConcept C2776291640 @default.
- W2073543145 hasConcept C2777600642 @default.
- W2073543145 hasConcept C41008148 @default.
- W2073543145 hasConcept C89246107 @default.
- W2073543145 hasConcept C94625758 @default.
- W2073543145 hasConceptScore W2073543145C106159729 @default.
- W2073543145 hasConceptScore W2073543145C11413529 @default.
- W2073543145 hasConceptScore W2073543145C119857082 @default.
- W2073543145 hasConceptScore W2073543145C122251271 @default.
- W2073543145 hasConceptScore W2073543145C139719470 @default.
- W2073543145 hasConceptScore W2073543145C149782125 @default.
- W2073543145 hasConceptScore W2073543145C151541453 @default.
- W2073543145 hasConceptScore W2073543145C162118730 @default.
- W2073543145 hasConceptScore W2073543145C162324750 @default.
- W2073543145 hasConceptScore W2073543145C175444787 @default.
- W2073543145 hasConceptScore W2073543145C17744445 @default.
- W2073543145 hasConceptScore W2073543145C199539241 @default.
- W2073543145 hasConceptScore W2073543145C27548731 @default.
- W2073543145 hasConceptScore W2073543145C2776291640 @default.
- W2073543145 hasConceptScore W2073543145C2777600642 @default.
- W2073543145 hasConceptScore W2073543145C41008148 @default.
- W2073543145 hasConceptScore W2073543145C89246107 @default.
- W2073543145 hasConceptScore W2073543145C94625758 @default.
- W2073543145 hasIssue "6" @default.
- W2073543145 hasLocation W20735431451 @default.
- W2073543145 hasOpenAccess W2073543145 @default.
- W2073543145 hasPrimaryLocation W20735431451 @default.
- W2073543145 hasRelatedWork W1966676348 @default.
- W2073543145 hasRelatedWork W2023446719 @default.
- W2073543145 hasRelatedWork W205202192 @default.
- W2073543145 hasRelatedWork W2073543145 @default.
- W2073543145 hasRelatedWork W2130830554 @default.
- W2073543145 hasRelatedWork W2144107722 @default.
- W2073543145 hasRelatedWork W3124129144 @default.
- W2073543145 hasRelatedWork W3124640287 @default.
- W2073543145 hasRelatedWork W3125242431 @default.
- W2073543145 hasRelatedWork W2183805982 @default.
- W2073543145 hasVolume "23" @default.
- W2073543145 isParatext "false" @default.
- W2073543145 isRetracted "false" @default.
- W2073543145 magId "2073543145" @default.
- W2073543145 workType "article" @default.