The Maturity of Debt Issues and Predictable Variation in Bond Returns

By Malcolm P. Baker, Robin Greenwood, Jeffrey Wurgler. 2003

148 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/488b4e4ff1e2bf30f65f2e1997a60cc15b42128e

Citations in the corpus

• Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts (2012, unknown): “Andrade and Kaplan (1998), Bernstein et al. (2010), and Hotchkiss et al (2011) suggests that these costs are not likely to be particularly large, but more research is needed here.”
• Capital Market-Driven Corporate Finance (2009, unknown): “Baker et al. (2003a) find return predictability in bond maturity choice, and patterns are also apparent in corporate hedging choices in Brown et al. (2006) and Faulkender (2005).”
• An Analysis of the Financing Decisions of REITs: The Role of Market Timing and Target Leverage (2010, unknown): “Baker et al. (2003) subsequently broadened the market timing theory to cover debt issues.”
• Hedging or Market Timing? Selecting the Interest Rate Exposure of Corporate Debt (2005, unknown): “…timing the market because a particular interest rate exposure offers them a relatively lower cost of capital at the time they are raising the debt funds (consistent with Baker et al. (2003) as well as with the survey results of Bodnar, Hayt, and Marston (1998) and Graham and Harvey (2001)).”