Municipal Bond Issues Explained
نویسندگان
چکیده
منابع مشابه
Municipal Bond Risk Ratings
Thesis Statement In recent years, the legitimacy of bond ratings given by top rating agencies has been under extreme scrutiny by the general public and the government. The faith and trust that the public puts into credit rating agencies such as Standard & Poor's, Moody's, and Fitch is based on the notion that they will publically assign unbiased risk ratings which truly reflect the creditworthi...
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The level of understanding of adhesive bond failures within the flight safety community is not as robust as it could be. Generally, most investigators are broadly aware of cohesion failure (fracture of the adhesive) and adhesion failure (a slick failure at the interface). They may also have some limited knowledge of common causes for bond failures such as bond-line voids, which is one cause of ...
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With the help of the available literature, the paper attempts to assess critically the main problems of municipal finances in India and to bring out the challenges that the municipalities face with respect to revenue generation and expenditure management. The main findings suggest that the urban local bodies in India are confronted with lack of proper decentralization of functions and finances,...
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Using data on municipal bonds issued in California and New York between 1996 and 2014, this paper documents a decline in the benefit of municipal bond insurance, explores its underlying determinants, and quantifies its aggregate effect. First, we find that the insurance benefit declined remarkably from approximately 5.1% of the overall deal value between 1996 and 2001 to 0.5% by 2011-2014. Seco...
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We provide evidence of “soft” information production in investment banking. Using 2191 municipal bond offerings from 1997-2001, we find that “local” investment banks have substantial comparative and absolute advantages over non-local counterparts – locals charge lower fees and sell bonds at lower yields. Local investment banks’ strongest comparative advantage is at underwriting bonds with highe...
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ژورنال
عنوان ژورنال: The ANNALS of the American Academy of Political and Social Science
سال: 1907
ISSN: 0002-7162,1552-3349
DOI: 10.1177/000271620703000217