Suppliers’ and customers’ information asymmetry and corporate bond yield spreads
Hui-Ju Kuo and
Journal of Banking & Finance, 2013, vol. 37, issue 8, 3181-3191
This study investigates the information asymmetry effects of suppliers and customers on a firm’s bond yield spreads by employing American bond market data from 2001 to 2008. This study finds that both suppliers’ and customers’ information asymmetry effects significantly explain a firm’s bond yield spreads. Besides, the information asymmetry effects of more important suppliers and customers are more significant than those of less important ones. The results are robust even after controlling for other well-known firm specific and economic variables.
Keywords: Suppliers’ and customers’ information asymmetry; Bond yield spreads; Supply chain (search for similar items in EconPapers)
JEL-codes: D82 G12 M11 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbfina:v:37:y:2013:i:8:p:3181-3191
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