Determinants of bond’s mispricing

Detalhes bibliográficos
Autor(a) principal: Alves, Miguel da Silva
Data de Publicação: 2019
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/73215
Resumo: This paper attempts to analyse the existence of underpricing in bond offers Banco Carregosa participated between October 2014 and June 2018 and the factors affecting bond’s mispricing in two different time frames, 1st day and 1st month. It was found that, for a very short term, underpricing is mostly affected by credit risk factors and macroeconomic conditions and partially described by liquidity aspects and information asymmetries. For longer periods, liquidity aspects and macroeconomic context are the main determinants. Credit risk factors lose their influence and information asymmetries continue to partially affect bond’s mispricing, however, represented by a different factor.
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spelling Determinants of bond’s mispricingBond mispricingInitial bond offeringUnderpricing determinantsDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis paper attempts to analyse the existence of underpricing in bond offers Banco Carregosa participated between October 2014 and June 2018 and the factors affecting bond’s mispricing in two different time frames, 1st day and 1st month. It was found that, for a very short term, underpricing is mostly affected by credit risk factors and macroeconomic conditions and partially described by liquidity aspects and information asymmetries. For longer periods, liquidity aspects and macroeconomic context are the main determinants. Credit risk factors lose their influence and information asymmetries continue to partially affect bond’s mispricing, however, represented by a different factor.Boons, MartijnRUNAlves, Miguel da Silva2019-06-21T13:59:40Z2019-01-152019-01-15T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/73215TID:202226204enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:33:58Zoai:run.unl.pt:10362/73215Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:35:18.878126Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Determinants of bond’s mispricing
title Determinants of bond’s mispricing
spellingShingle Determinants of bond’s mispricing
Alves, Miguel da Silva
Bond mispricing
Initial bond offering
Underpricing determinants
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Determinants of bond’s mispricing
title_full Determinants of bond’s mispricing
title_fullStr Determinants of bond’s mispricing
title_full_unstemmed Determinants of bond’s mispricing
title_sort Determinants of bond’s mispricing
author Alves, Miguel da Silva
author_facet Alves, Miguel da Silva
author_role author
dc.contributor.none.fl_str_mv Boons, Martijn
RUN
dc.contributor.author.fl_str_mv Alves, Miguel da Silva
dc.subject.por.fl_str_mv Bond mispricing
Initial bond offering
Underpricing determinants
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Bond mispricing
Initial bond offering
Underpricing determinants
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This paper attempts to analyse the existence of underpricing in bond offers Banco Carregosa participated between October 2014 and June 2018 and the factors affecting bond’s mispricing in two different time frames, 1st day and 1st month. It was found that, for a very short term, underpricing is mostly affected by credit risk factors and macroeconomic conditions and partially described by liquidity aspects and information asymmetries. For longer periods, liquidity aspects and macroeconomic context are the main determinants. Credit risk factors lose their influence and information asymmetries continue to partially affect bond’s mispricing, however, represented by a different factor.
publishDate 2019
dc.date.none.fl_str_mv 2019-06-21T13:59:40Z
2019-01-15
2019-01-15T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/73215
TID:202226204
url http://hdl.handle.net/10362/73215
identifier_str_mv TID:202226204
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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