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This paper examines dealers' inventory holding periods and the associated price markups on corporate bonds from 2003 to 2010. Changes in these measures explain a large part of the time

This paper examines dealers' inventory holding periods and the associated price markups on corporate bonds from 2003 to 2010. Changes in these measures explain a large part of the time series variation in aggregate corporate bond prices. In the cross-section, holding periods and markups overshadow extant liquidity measures and have significant explanatory power for individual bond prices.

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    Date Created
    • 2012
    Resource Type
  • Text
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    Note
    • Partial requirement for: Ph. D., Arizona State University, 2012
      Note type
      thesis
    • Includes bibliographical references (p. 51-53)
      Note type
      bibliography
    • Field of study: Business administration

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    by Zhiyi Qian

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