Name: Are the Borrowing Costs of Large Financial Firms Unusual? (en Inglés)
Price: 97.91 PEN
Availability: InStock
Author: Penny Hill Press Inc ; Federal Reserve Board
ISBN: 9781522868316

portada Are the Borrowing Costs of Large Financial Firms Unusual? (en Inglés)

Formato

Libro Físico

Ilustrado por

Penny Hill Press Inc

Editorial

Createspace Independent Publishing Platform

Autor

Penny Hill Press Inc ; Federal Reserve Board

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

Dimensiones

28.0 x 21.6 x 0.4 cm

Peso

0.18 kg.

ISBN13

9781522868316

Categorías

Gestión financiera de las sociedades

Are the Borrowing Costs of Large Financial Firms Unusual? (en Inglés)

Penny Hill Press Inc (Ilustrado por) · Createspace Independent Publishing Platform · Tapa Blanda

Libro Nuevo

S/ 97,91

S/ 163,19

Ahorras: S/ 65,28

40% descuento

Envío normal

Origen: Estados Unidos (Costos de importación incluídos en el precio)

Se enviará desde nuestra bodega entre el Viernes 19 de Julio y el Martes 30 de Julio.

Lo recibirás en cualquier lugar de Perú entre 2 y 5 días hábiles luego del envío.

Reseña del libro "Are the Borrowing Costs of Large Financial Firms Unusual? (en Inglés)"

Estimates of investor expectations of government support of large financial firms are often based on large financial firms' lower borrowing costs relative to smaller financial firms. Using pricing data on credit default swaps (CDS) and corporate bonds over the period 2004 to 2013, however, we find that the CDS and bond spreads of financial firms are no more sensitive to borrower size than the spreads of non-financial firms. Outside of the financial crisis period, spreads are more sensitive to borrower size in several non-financial industries. We find that size-related differences in spreads are partially driven by higher liquidity and recovery rates of larger borrowers. Prior to the financial crisis, we also find that financial firms exhibited generally lower spreads that were less sensitive to size than spreads for several other industries. Our results suggest that estimates of implicit government guarantees to financial firms may overemphasize size- related borrowing cost differentials. However, our analysis also suggests that, prior to the financial crisis, investor expectations of government support, or generally reduced risk perceptions, may have reduced borrowing costs for the financial industry as a whole.