Understanding the Ownership Structure of Corporate Bonds
收藏NBER2022-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w29679
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资源简介：
Insurers are the largest institutional investors of corporate bonds. However, a standard theory of insurance markets, in which insurers maximize firm value subject to regulatory or risk constraints, predicts no allocation to corporate bonds. We resolve this puzzle in an equilibrium asset pricing
提供机构：
美国国家经济研究局
创建时间：
2022-01-01
