• norsk
    • English
  • English 
    • norsk
    • English
  • Login
View Item 
  •   Home
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • View Item
  •   Home
  • Norges Handelshøyskole
  • Thesis
  • Master Thesis
  • View Item
JavaScript is disabled for your browser. Some features of this site may not work without it.

Corporate restructurings and the effect of ownership concentration on bond recovery rates : an empirical study of recovery rates in the Norwegian high yield bond market

Joakim, Olav; Skjæret, Andreas
Master thesis
Thumbnail
View/Open
masterthesis.PDF (601.0Kb)
URI
http://hdl.handle.net/11250/2487889
Date
2017
Metadata
Show full item record
Collections
  • Master Thesis [3258]
Abstract
This study examines the effect of ownership concentration on recovery rates for 112 defaulted

high yield bonds issued by Norwegian firms. We find evidence suggesting that concentrated

ownership in the hands of the firm’s largest owner negatively affects bond recovery for secured

bonds. The effect is insignficant for unsecured bonds. This suggests that large shareholders

reduce bond recovery rates by a transfer of value in the negotiation process during financial

reorganizations. Large shareholders have greater incentive to use their bargaining power in

negotiations, compared to small shareholders.

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit
 

 

Browse

ArchiveCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsDocument TypesJournalsThis CollectionBy Issue DateAuthorsTitlesSubjectsDocument TypesJournals

My Account

Login

Statistics

View Usage Statistics

Contact Us | Send Feedback

Privacy policy
DSpace software copyright © 2002-2019  DuraSpace

Service from  Unit