10 research outputs found
A STUDY OF POSSIBLE GAINS FROM INTERNATIONAL INVESTMENT AND THE STATIONARITY OF INTER-COUNTRY CORRELATION COEFFICIENTS: A COMMENT
No full textA general framework for the evaluation of capital projects under uncertainty
No full textSIGLELD:6224.121(8103) / BLDSC - British Library Document Supply CentreGBUnited Kingdo
The empirical properties of alternative procedures for estimating betas with nonsynchronous data
No full textSIGLELD:6224.121(8101) / BLDSC - British Library Document Supply CentreGBUnited Kingdo
OPTIMAL PORTFOLIO DIVERSIFICATION AND THE EFFECTS OF DIFFERING INTRA SAMPLE MEASURES OF RETURN
No full textDeterminants of Sovereign Eurobonds Yield Spread
No full textWe examine the determinants of sovereign Eurobond spread at issuance covering 1991-2000. The results of the regression models showed that yield spread increases with maturity, issue size and gross fees and decreases with credit rating and the number of managers. Higher-grade issuers also pay a relatively higher spread to borrow long-term funds and for smaller issues. The findings are consistent with the notion of a term structure 'liquidity premium.' Low-grade issuers pay a higher spread than better-rated countries. However, low-grade countries pay high spread for larger funds. Credit rating is found to provide additional information in explaining the spread on sovereign Eurobonds beyond that provided by macroeconomic variables. Copyright Blackwell Publishers Ltd, 2004.
