Aller au contenu principal
A propos d'HEC A propos d'HEC Faculté et Recherche Faculté et Recherche Grande Ecole
& Masters Grande Ecole
& Masters
MBA Programs MBA Programs Programme PhD Programme PhD Executive Education Executive Education Summer School Summer School HEC Online HEC Online
A propos d'HEC En bref En bref Qui sommes-nous ? Qui sommes-nous ? Egalité des chances Egalité des chances Centre Carrières Centre Carrières International International Vie du campus Vie du campus Développement durable Développement durable Diversité et inclusion Diversité et inclusion Stories Stories Fondation HEC Fondation HEC Coronavirus Coronavirus Faculté et Recherche À propos À propos Corps professoral Corps professoral Départements Départements Centres Centres Chaires Chaires Knowledge Knowledge Grande Ecole
& Masters
Programme
Grande Ecole Programme
Grande Ecole
MSc International
Finance MSc International
Finance
MS et MSc MS et MSc Programmes
X-HEC Programmes
X-HEC
Doubles Diplômes
en Admission directe Doubles Diplômes
en Admission directe
Visiting
students Visiting
students
Certificats Certificats Vie
Etudiante Vie
Etudiante
Student
Stories Student
Stories
MBA Programs MBA MBA Executive MBA Executive MBA TRIUM EMBA TRIUM EMBA Programme PhD Overview Overview HEC Difference HEC Difference Program details Program details Research areas Research areas HEC Community HEC Community Placement Placement Job Market Job Market Admissions Admissions Financing Financing Executive Education Executive Mastères Executive Mastères Certificats Executive Certificats Executive Programmes courts Executive Programmes courts Executive Online Online Entreprises Entreprises Executive MBA Executive MBA Summer School Youth programs Youth programs Summer programs Summer programs HEC Online En bref En bref Programme diplômant Programme diplômant Certificats Executive Certificats Executive MOOCs MOOCs
Faculté et Recherche

The Resilience of the U.S. Corporate Bond Market During Financial Crises - Efraim Benmelech

23 sep
2021
15H00
Jouy-en-Josas
Anglais

Participer

Ajouter au calendrier
2021-09-23T15:00:00 2021-09-23T16:00:00 The Resilience of the U.S. Corporate Bond Market During Financial Crises - Efraim Benmelech Finance Speaker : Efraim Benmelech (Kellogg School of Management) Videoconference   Jouy-en-Josas

Finance

Speaker : Efraim Benmelech (Kellogg School of Management)

Videoconference

Corporate bond markets proved remarkably resilient against a sharp contraction caused by the 2020 Covid-19 pandemic. We document three important findings: (1) bond issuance increased immediately when the contraction hit, whereas, in contrast, syndicated loan issuance was low; (2) Federal Reserve interventions increased bond issuance, while loan issuance also increased, but to a lesser degree; and (3) bond issuance was concentrated in the investment-grade segment for large and profitable issuers. We compare these results to previous crises and recessions and document similar patterns. We conclude that the U.S. bond market is an important and resilient source of funding for corporations.

Cliquez ici pour télécharger le papier

Participer

Ajouter au calendrier
2021-09-23T15:00:00 2021-09-23T16:00:00 The Resilience of the U.S. Corporate Bond Market During Financial Crises - Efraim Benmelech Finance Speaker : Efraim Benmelech (Kellogg School of Management) Videoconference   Jouy-en-Josas