An Alternative to the Yield Spread as a Measure of Risk
1973; Wiley; Volume: 28; Issue: 4 Linguagem: Inglês
10.2307/2978345
ISSN1540-6261
Autores Tópico(s)Monetary Policy and Economic Impact
ResumoThe Journal of FinanceVolume 28, Issue 4 p. 933-955 Article AN ALTERNATIVE TO THE YIELD SPREAD AS A MEASURE OF RISK J. B. Silvers, J. B. SilversAssistant Professor of Business Administration, Harvard University. The author appreciates the helpful comments of Ezra Solomon, Alexander Robichek, William Beaver, Dwight Crane, and E. Eugene Carter on earlier portions of this work. Financial support was provided by the American Banking Association under a Stonier Fellowship and by the Division of Research of the Harvard Business School.Search for more papers by this author J. B. Silvers, J. B. SilversAssistant Professor of Business Administration, Harvard University. The author appreciates the helpful comments of Ezra Solomon, Alexander Robichek, William Beaver, Dwight Crane, and E. Eugene Carter on earlier portions of this work. Financial support was provided by the American Banking Association under a Stonier Fellowship and by the Division of Research of the Harvard Business School.Search for more papers by this author First published: September 1973 https://doi.org/10.1111/j.1540-6261.1973.tb01417.xCitations: 16 Read the full textAboutPDF ToolsRequest permissionExport citationAdd to favoritesTrack citation ShareShare Give accessShare full text accessShare full-text accessPlease review our Terms and Conditions of Use and check box below to share full-text version of article.I have read and accept the Wiley Online Library Terms and Conditions of UseShareable LinkUse the link below to share a full-text version of this article with your friends and colleagues. Learn more.Copy URL Share a linkShare onEmailFacebookTwitterLinkedInRedditWechat REFERENCES 1 Shirley Almon. “The Distributed Lag Between Capital Appropriations and Expenditures”, Econometrica, Vol. 33, No. 1 (January, 1965), 178–196. 2 William H. Beaver. “ Financial Ratios as Predictors of Failure”, in Empirical Research in Accounting: Selected Studies 1966. Chicago: Institute of Professional Accounting, Graduate School of Business, University of Chicago, 1967. 3 David Durand. “Comment: Term Structures of Corporate Bond Yields as a Function of Risk of Default”, Journal of Finance XXII (May, 1967), 348–350. 4 Irving Fisher. The Theory of Interest. New York: The Macmillan Co., 1930. 5 Lawrence Fisher. “Determinants of Risk Premiums on Corporate Bonds”, Journal of Political Economy LXVIII (June, 1959), 217–237. 6 Harold G. Fraine and R. H. Mills. “Effect of Defaults and Credit Deterioration on Yields of Corporate Bonds”, The Journal of Finance XVI (September, 1961), 423–434. 7 Arleigh P. Hess, Jr., and Willis J. Winn. The Value of the Call Privilege, Washington: McGregor and Werner, Inc., 1962. 8 W. Braddock Hickman. Corporate Bond Quality and Investor Experience. New York: National Bureau of Economic Research, 1958. 9 James O. Horrigan. “ The Determination of Long-Term Credit Standing with Financial Ratios”, in Empirical Research in Accounting: Selected Studies 1966. Chicago: Institute of Professional Accounting, Graduate School of Business, University of Chicago, 1967. 10 Frank Jen and J. D. Wert. “The Effect of Call Risk on Corporate Bond Yields”, Journal of Finance XXII (December, 1967), 637–651. 11 Ramon E. Johnson. “Term Structure of Corporate Bond Yields as a Function of Risk of Default”, Journal of Finance XXII (May, 1967), 313–345. 12 John Lintner. “The Aggregation of Investor's Diverse Judgments and Preferences in Purely Competitive Security Markets”, Journal of Financial and Quantitative Analysis (December, 1969), 347–400. 13 Burton G. Malkiel. The Term Structure of Interest Rates. Princeton, N.J.: Princeton University Press, 1966. 14 Gordon Pye. “The Value of Call Deferment on a Bond: Some Empirical Results”, Journal of Finance XXII (December, 1967), 625–636. 15 J. B. Silvers. An Alternative Analysis of Bond Risk. Unpublished Ph.D. Dissertation, Stanford University, 1970. 16 Peter E. Sloane. “Determinants of Bond Yield Differentials 1954–1959”, Yale Economic Essays, Vol. 3 (Spring, 1963), 3–56. 17 Solomon Brothers & Hutzler. An Analytic Record of Yields and Yield Spreads. New York, 1968. Citing Literature Volume28, Issue4September 1973Pages 933-955 ReferencesRelatedInformation
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