Analyzing Wealth Effects for Bondholders; New Insight on Major Corporate Events from the Debtholders' Perspective (20) (Corporate Finance and Governance)

Daniel Maul

ISBN 10: 3631671199 / ISBN 13: 9783631671191

Published by Peter Lang D 2016-03-08, 2016

About this Item

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Seller Inventory # 6666-IUK-9783631671191

Bibliographic Details

• Title: Analyzing Wealth Effects for Bondholders; New Insight on Major Corporate Events from the Debtholders' Perspective (20) (Corporate Finance and Governance)
• Publisher: Peter Lang D 2016-03-08
• Publication Date: 2016
• Language: English
• ISBN 10: 3631671199
• ISBN 13: 9783631671191
• Binding: Paperback
• Condition: New

About this title

Synopsis

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.

About the Author

Daniel Maul studied Business Administration and Engineering (Wirtschaftsingenieurwesen) at Darmstadt University of Technology. He worked as a research and teaching assistant at the Chair of Corporate Finance.