Previous research has found that the bond market values the ratings of Moody's and
Standard & Poor's. This paper extends earlier research by comparing the ratings of Moody's …

A split bond rating occurs when Moody's and Standard & Poor give different ratings to the
same issue. We examine 1,277 public industrial bond issues, where 221 have split ratings …

We examine the role that earnings predictability plays in establishing a firm's cost of debt
capital by measuring its influence on establishing a new issue's bond rating. In addition, we …

We examine the impact of investment banker prestige on underwriter spreads, offering
yields, and other expenses for 2,449 nonconvertible industrial debt issues offered during the …

Providing theoretical and practical insight, Distressed Debt Analysis: Strategies for
Speculative Investors presents a conceptual, but not overly technical, outline of the financial …

We compare underwriting performance by commercial bank-affiliated firms (Section 20s)
and traditional investment banks over the period 1995–1998. We find that gross spreads are …

We examine the role of underwriter reputation in the tax-exempt municipal bond market.
Using a large sample of 10,239 tax-exempt municipal bonds, we show that generally …

This article examines the potential conflict of interest of underwriters in London's foreign
sovereign debt markets prior to the Baring crisis of 1890. We describe the main sources of …

This study compares the issuance costs of Eurobonds before and after the completion of the
Economic and Monetary Union (EMU) in 2002. We find that the introduction of the Euro has …

This paper analyzes the issue costs and initial pricing of bonds in the international market. In
particular, we investigate the determinants of three components of issue costs: underwriter …