Recent Research in Public Finance: The Impact of Financial Advisor Independence on Issuer Interest Cost

William P. Kittredge

Municipal Finance Journal, 2003, vol. 24, issue 2, 63 - 72

Abstract: Municipal debt represents a significant commitment of each issuer’s future resources and a reduction in fiscal flexibility until the debt is retired.This is true regardless of the absolute size of the issue. Interest cost minimization is important to all municipal bond issuers. This article asks whether having an independent financial advisor reduces issuers’ interest costs.

Date: 2003
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