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  1. Information asymmetry and the pricing of privately placed debt
    Author: Dinkelaker, Kilian R.; Mattig, Andreas; Morkoetter, Stefan
    Published: January 19th, 2021
    Publisher:  School of Finance, University of St. Gallen, St. Gallen

    Based on a dataset including 11,636 private debt placements issued globally between 1999 and 2016, we investigate the association between borrower-lender information asymmetry and the cost of debt for issuers. We observe that information asymmetry... more

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    Location:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 314
    Inter-library loan:
    No inter-library loan

     

    Based on a dataset including 11,636 private debt placements issued globally between 1999 and 2016, we investigate the association between borrower-lender information asymmetry and the cost of debt for issuers. We observe that information asymmetry due to being a private or unrated firm is associated with higher cost of private debt. Our results equally inform corporate financing decisions and government initiatives aimed at promoting private debt markets in order to expand funding sources for the private sector

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    Series: Working papers on finance ; no. 2021, 03
    Subjects: Private placement; cost of debt; information asymmetry; corporate structure
    Scope: 1 Online-Ressource (circa 26 Seiten), Illustrationen