Essays on financial markets and corporate outcomes

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dc.contributor.advisor Marín, José M.
dc.contributor.author García Saiz, Sergio Javier
dc.coverage.spatial east=-95.71289100000001; north=37.09024; name=Estados Unidos
dc.date.accessioned 2019-02-01T12:11:47Z
dc.date.available 2019-02-01T12:11:47Z
dc.date.issued 2017-11
dc.date.submitted 2018-01-29
dc.identifier.uri http://hdl.handle.net/10016/27983
dc.description.abstract These conflicting channels of influence raise an interesting empirical question regarding how bondholders, an important group of claimholders in the capital structure, view an active option market. In this paper, we address this open empirical question. Specifically, we study whether the volume of equity options written on the underlying asset increases or reduces firms' cost of debt. We find that a one-standard-deviation increase in options trading volume from its mean is associated with a 10-basis-point increase in the bond at-issue yield spread.
dc.format.mimetype application/pdf
dc.language.iso eng
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Mercados financieros
dc.subject.other Opciones
dc.subject.other Deuda
dc.subject.other Productos financieros derivados
dc.title Essays on financial markets and corporate outcomes
dc.type doctoralThesis
dc.rights.accessRights openAccess
dc.description.degree Programa Oficial de Doctorado en Empresa y Finanzas / Business and Finance
dc.description.responsability Presidente: Juan Ignacio Peña Sánchez de Rivera; Secretario: Santiago Carbó-Valverde; Vocal: Paolo Colla
dc.contributor.departamento Universidad Carlos III de Madrid. Departamento de Economía de la Empresa
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