The determinants of interest rates on high-yield bonds.

Title: The determinants of interest rates on high-yield bonds.
Identifier: AAI9820526
identifier: 9820526
Creator: Dubovy, Eyal.
Contributor: Adviser: Glenn Yago
Date: 1998
Language: English
Publisher: City University of New York.
Subject: Economics, Finance
Abstract: The aim of this paper is to examine the determinants of interest rates on high yield bonds. To that end, a model describing the forces driving the high yield market is derived. Equilibrium framework for the supply and demand functions of new high yield issues will produce a forecasting formula for the return on high yield investments. The results show the individual effects of the determinants of interest rate and their impact on market return. The model yields a small error when comparing the actual and forecasted values of the return on the bonds. The model is also able to predict turning points in the actual interest rate series with a high degree of accuracy.
Type: dissertation
Source: PQT Legacy CUNY.xlsx
degree: Ph.D.