Underwriter Reputation & Certification in the High Yield Bond Market

Abstract

The book chapter is concerned with the role of underwriter reputation and its relation to the quality (or reliability) of certification. It puts a particular focus on the high-yield corporate bond market, as certification of issuer quality should be particularly valuable to both issuing firms and investors in the low-grade segment.

Publication
In: M. Fridson and K. Sterling (eds.), ‘High Yield Future Tense: Cracking the Code of Speculative Debt’, New York Society of Security Analysts
Date
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