Matches in SemOpenAlex for { <https://semopenalex.org/work/W2997476769> ?p ?o ?g. }
- W2997476769 endingPage "91" @default.
- W2997476769 startingPage "75" @default.
- W2997476769 abstract "The author examines the relationship between corporate political connections and yields of newly issued corporate bonds. Using the data from the SDC Global New Issue on 6,265 corporate bond issues for the period 2000–2014, the author finds that bonds offered by politically connected firms average a 36-basis-point yield discount over bonds offered by non-connected firms, holding other things constant. The author also finds that the negative relationship between political connections and bond yield becomes more pronounced when the offering is rated non-investment grade, when the issuer is largely dependent on government spending, and when it faces a more opaque information environment. Overall, the results suggest that corporate ties to politicians add firm value and are viewed favorably in the bond market. <b>TOPICS:</b>Fixed income and structured finance, legal/regulatory/public policy <b>Key Findings</b> • Bond investors require significantly lower yields on bonds offered by politically connected firms than those offered by non-connected firms. • The negative relationship between political connections and bond yield is at least partly driven by the credit quality of the issue, the issuer’s dependence on government spending, and the information environment. • The findings in this article suggest that corporate ties to politicians add firm value and are viewed favorably in the bond market." @default.
- W2997476769 created "2020-01-10" @default.
- W2997476769 creator A5046650480 @default.
- W2997476769 date "2020-01-04" @default.
- W2997476769 modified "2023-09-26" @default.
- W2997476769 title "Do Political Connections Matter to Bondholders? Evidence from Corporate Bond Offerings" @default.
- W2997476769 cites W1494322119 @default.
- W2997476769 cites W1546523058 @default.
- W2997476769 cites W1978711401 @default.
- W2997476769 cites W2043201891 @default.
- W2997476769 cites W2059755087 @default.
- W2997476769 cites W2076038511 @default.
- W2997476769 cites W2077791698 @default.
- W2997476769 cites W2087489533 @default.
- W2997476769 cites W2105973145 @default.
- W2997476769 cites W2154187126 @default.
- W2997476769 cites W2171767490 @default.
- W2997476769 cites W2752617332 @default.
- W2997476769 cites W3023160244 @default.
- W2997476769 cites W3080732781 @default.
- W2997476769 cites W3121235470 @default.
- W2997476769 cites W3121304433 @default.
- W2997476769 cites W3121335362 @default.
- W2997476769 cites W3121748598 @default.
- W2997476769 cites W3121771633 @default.
- W2997476769 cites W3121947872 @default.
- W2997476769 cites W3121983875 @default.
- W2997476769 cites W3122143781 @default.
- W2997476769 cites W3122194337 @default.
- W2997476769 cites W3122199437 @default.
- W2997476769 cites W3122489987 @default.
- W2997476769 cites W3123362511 @default.
- W2997476769 cites W3124697985 @default.
- W2997476769 cites W3125523061 @default.
- W2997476769 cites W3125748343 @default.
- W2997476769 cites W3125757792 @default.
- W2997476769 cites W3125856240 @default.
- W2997476769 cites W3123319068 @default.
- W2997476769 cites W3123361373 @default.
- W2997476769 doi "https://doi.org/10.3905/jfi.2020.1.081" @default.
- W2997476769 hasPublicationYear "2020" @default.
- W2997476769 type Work @default.
- W2997476769 sameAs 2997476769 @default.
- W2997476769 citedByCount "1" @default.
- W2997476769 countsByYear W29974767692023 @default.
- W2997476769 crossrefType "journal-article" @default.
- W2997476769 hasAuthorship W2997476769A5046650480 @default.
- W2997476769 hasConcept C10138342 @default.
- W2997476769 hasConcept C119857082 @default.
- W2997476769 hasConcept C120310109 @default.
- W2997476769 hasConcept C134121241 @default.
- W2997476769 hasConcept C138170105 @default.
- W2997476769 hasConcept C138885662 @default.
- W2997476769 hasConcept C144133560 @default.
- W2997476769 hasConcept C144929662 @default.
- W2997476769 hasConcept C162324750 @default.
- W2997476769 hasConcept C17744445 @default.
- W2997476769 hasConcept C191897082 @default.
- W2997476769 hasConcept C192562407 @default.
- W2997476769 hasConcept C194115793 @default.
- W2997476769 hasConcept C197142791 @default.
- W2997476769 hasConcept C199539241 @default.
- W2997476769 hasConcept C2776291640 @default.
- W2997476769 hasConcept C2778137410 @default.
- W2997476769 hasConcept C2780389337 @default.
- W2997476769 hasConcept C2780999293 @default.
- W2997476769 hasConcept C41008148 @default.
- W2997476769 hasConcept C41895202 @default.
- W2997476769 hasConcept C556758197 @default.
- W2997476769 hasConcept C69738904 @default.
- W2997476769 hasConcept C73283319 @default.
- W2997476769 hasConcept C94625758 @default.
- W2997476769 hasConceptScore W2997476769C10138342 @default.
- W2997476769 hasConceptScore W2997476769C119857082 @default.
- W2997476769 hasConceptScore W2997476769C120310109 @default.
- W2997476769 hasConceptScore W2997476769C134121241 @default.
- W2997476769 hasConceptScore W2997476769C138170105 @default.
- W2997476769 hasConceptScore W2997476769C138885662 @default.
- W2997476769 hasConceptScore W2997476769C144133560 @default.
- W2997476769 hasConceptScore W2997476769C144929662 @default.
- W2997476769 hasConceptScore W2997476769C162324750 @default.
- W2997476769 hasConceptScore W2997476769C17744445 @default.
- W2997476769 hasConceptScore W2997476769C191897082 @default.
- W2997476769 hasConceptScore W2997476769C192562407 @default.
- W2997476769 hasConceptScore W2997476769C194115793 @default.
- W2997476769 hasConceptScore W2997476769C197142791 @default.
- W2997476769 hasConceptScore W2997476769C199539241 @default.
- W2997476769 hasConceptScore W2997476769C2776291640 @default.
- W2997476769 hasConceptScore W2997476769C2778137410 @default.
- W2997476769 hasConceptScore W2997476769C2780389337 @default.
- W2997476769 hasConceptScore W2997476769C2780999293 @default.
- W2997476769 hasConceptScore W2997476769C41008148 @default.
- W2997476769 hasConceptScore W2997476769C41895202 @default.
- W2997476769 hasConceptScore W2997476769C556758197 @default.
- W2997476769 hasConceptScore W2997476769C69738904 @default.
- W2997476769 hasConceptScore W2997476769C73283319 @default.
- W2997476769 hasConceptScore W2997476769C94625758 @default.
- W2997476769 hasIssue "4" @default.