On the Fundamental Relation Between Equity Returns and Interest Rates
收藏NBER2014-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w20187
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资源简介：
This paper uses contingent claim asset pricing and exploits capital structure priority to better understand the relation between corporate security returns and interest rate changes (i.e., duration). We show theoretically and, using a novel dataset, confirm empirically that lower priority securities
提供机构：
美国国家经济研究局
创建时间：
2014-06-01
