TY  - BOOK
AU  - Daniel Maul
PY  - 2016
CY  - Berlin, Germany
PB  - Peter Lang Verlag
SN  - 9783653064261
TI  - Analyzing Wealth Effects for Bondholders
T2  - New Insight on Major Corporate Events from the Debtholders’ Perspective
DO  - 10.3726/978-3-653-06426-1
UR  - https://www.peterlang.com/document/1050046
N2  - Despite the growing importance of funds through corporate bonds, most investigations on the short-term effects of certain events on firm value are only conducted for stocks. Thus, research provides an incomplete view on how firm value is truly affected. The author fills this gap and focuses his research on corporate debt. The first section of the book provides a comprehensive overview of existing methodologies to calculate abnormal bond returns. Subsequently, two frameworks are selected to investigate the importance of corporate debt when empirically assessing major corporate events: Synergy disclosure at M&A announcements and debt offerings through reopenings. Both provide evidence for the necessity to regard corporate debt to fully assess changes in firm value.
KW  - Corporate Bond, Event Study, Synergy Disclosure, Debt Security
LA  - English
ER  -