Haku
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What slice of the pie? The corporate bond market boom in emerging economies
(21.06.2016)
BOFIT Discussion Papers 8/2016
BOFIT Discussion Papers 8/2016
This paper studies the determinants of shifts in debt composition among emerging market non-financial corporates. We show that institutions and macro fundamentals create an enabling environment for bond market development. ...
Is it worth issuing bonds in China? Evidence from stock market reactions
(15.12.2015)
BOFIT Discussion Papers 33/2015
BOFIT Discussion Papers 33/2015
There has been a considerable expansion of corporate bond markets in China in the recent years. The objective of this study is to examine the stock market reaction following bond issuance by Chinese companies. In addition ...
Do the type of sukuk and choice of shari’a scholar matter?
(03.12.2014)
BOFIT Discussion Papers 21/2014
BOFIT Discussion Papers 21/2014
Sukuk, the shari’a-compliant alternative mode of financing to conventional bonds, have considerably expanded over the last decade. We analyze the stock market reaction to two key features of this instrument: sukuk type ...
Who gains from credit granted between firms? Evidence from inter-corporate loan announcements made in China
(17.01.2015)
BOFIT Discussion Papers 1/2015
BOFIT Discussion Papers 1/2015
Who gains from inter-corporate credit? To answer this question we investigate the reactions of the stock prices of both the issuing and receiving firms to the announcements of 719 inter-corporate loans that took place ...