Equity Volatility and Corporate Bond Yields
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This paper explores the effect of equity volatility on corporate bond yields. Panel data for the late 1990's show that idiosyncratic firm-level volatility can explain as much cross-sectional variation in yields as can credit ratings. This finding, together with the upward trend in idiosyncratic
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美国国家经济研究局创建时间：
2002-05-01
