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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- Partial requirement for: Ph. D., Arizona State University, 2012Note typethesis
- Includes bibliographical references (p. 51-53)Note typebibliography
- Field of study: Business administration