An Empirical Analysis of Structural Models of Corporate Debt Pricing

2005 ◽  
Author(s):  
João C. A. Teixeira
Keyword(s):  
Empirical Analysis ◽  
Structural Models ◽  
Corporate Debt ◽  
Debt Pricing

scholarly journals A Sector Wise Influence of Equity Ownership Holding on the Corporate Debt Policy- An Empirical Analysis

2010 ◽  
Vol 9 (2) ◽  
pp. 50-58
Author(s):  
R. Shunmughan ◽  
Sengottuvel E.P.
Keyword(s):  
Regression Analysis ◽  
Empirical Analysis ◽  
Significant Relationship ◽  
Descriptive Statistics ◽  
Corporate Debt ◽  
Power Sector ◽  
Equity Ownership ◽  
Debt Policy

This paper aims to analyse the effect of equity ownership holding pattern on the corporate debt policy under a sector wise classification. The study uses a sample of thirty six firms in the construction of BSE- 200 index during the period 1999-2009. The study has used Regression analysis and Descriptive statistics to quantify the argument. This paper finds a significant relationship between debt policy and public holding pattern in all the sectors. Promoters holding show insignificant relation for the Transport and Power sector.

The Impact of Auditor-Related Tax Services on Corporate Debt Pricing

2008 ◽  
Vol 30 (2) ◽  
pp. 79-106 ◽  
Author(s):  
Steve Fortin ◽  
Jeffrey A. Pittman
Keyword(s):  
Audit Quality ◽  
Auditor Independence ◽  
Policy Implications ◽  
Corporate Debt ◽  
Security Level ◽  
Firm Level ◽  
Yield Spreads ◽  
Public Firms ◽  
Debt Pricing ◽  
The Impact

ABSTRACT: We examine the link between auditor-related tax services and corporate debt pricing. After controlling for security-level and other firm-level determinants, we provide strong, robust evidence that bondholders reward public firms that pay proportionately more tax fees to their auditor with lower yield spreads. Our results include that the influence of auditor-related tax services on lowering borrowing costs is stronger for issues made by firms suffering worse information asymmetry. This research, which helps to resolve whether audit quality hinges on the relative amount of tax services, may have important policy implications given that regulators continue to debate whether to impose further restrictions on the tax services that auditors can provide to their clients. Altogether, our evidence implies that the benefit of tax services in improving auditor knowledge—stemming from public accounting firms learning more about their clients over successive engagements—outweighs any concurrent sacrifice in auditor independence in shaping debt market perceptions.

Sign in / Sign up

Export Citation Format

Share Document