Finance journal homepage: www.elsevier.com/locate/jbf The impact of bond rating changes on corporate bond prices: New evidence from the over-the-counter market Anthony D. May * Price College of Business‚ University of Oklahoma‚ 307 West Brooks‚ Norman‚ OK 73019‚ USA a r t i c l e i n f o a b s t r a c t I study the information content of bond ratings changes using daily corporate bond data from TRACE. Abnormal bond returns over a two-day event window that includes the downgrade (upgrade)
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It is true about the statement Jack Carter states about not being discriminatory to minorities and women since that is all they mostly hire. But in today’s day‚ since the CRA 1991‚ the process of filing and replying to a discrimination charge still occur depending on what the employee/applicant press charges for. The accuser pressing charges would be an employee or rejected applicant that show that an employment drill‚ like a test or specified questions has a disparate impact on a particular group
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required return represents the cost of money. It is the compensation that a supplier of funds expects and a demander of funds must pay. Usually the term interest rate is applied to debt instruments such as bank loans or bonds‚ and the term required return is applied to equity investments‚ such as common stock‚ that give the investor an ownership stake in the issuer. In fact‚ the meaning of these two terms is quite similar because‚ in both cases‚ the supplier is compensated for providing funds to the
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SECTION 1: Sales Growth 1. During the four-year period ended December 31‚ 2008. SciTronics’ sales grew at 21% ($244‚000/$115‚000) = (1+r) ^4 compound rate. There were no acquisitions or divestitures. Profitability Ratios: How Profitable Is the Company 1. SciTronics’ profits as a percentage of sales in 2008 were 5.73% (14‚000/244‚000). 2. SciTronics’ profits as a percentage of sales in 2005 was 3.44 %( 5‚000/147‚000). This represents an increase of 2. 29% from 2005. 3. SciTronics had a
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Is Globalization A Good Thing? With globalization rapidly expanding it is on the mind of people around the world more than ever. Some of the main topics of globalization include topics such as‚ its effect on the social value system‚ the positive and negative effects on the concept of globalization and what it can contribute to the world. Also‚ what happens when a non-indigenous value structure is introduced‚ and how it can affect one’s identity? The effects of a globalized social value system
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Dr. Carter Godwin Woodson Dr. Carter G. Woodson was a distinguished Black author‚ editor‚ publisher‚ and historian. He is known as the "father of Black history." He believed that blacks should know their past in order to participate intelligently in the future affairs of our country. He believed that black history is a firm foundation for young black Americans to build on in order to become productive citizens of our country. He received his Bachelor’s of literature degree from Bethea College
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Lin When forming a business‚ there will always be issues that arise when making a decision for the company. Whether it will be a simple or difficult decision‚ you have to take into consideration of both and see what the best decision is for the company. Some decisions may have a positive impact on the company whereas‚ others will not be the best result for the company. Background of Dave & Busters Dave & Buster’s is an American restaurant and entertainment business where they offer arcade
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opinions about their former President‚ Jimmy Carter. The result from the 1980 election‚ led to the appointment of Ronald Reagan as the 40th President of the United States of America‚ and the Republicans gained control of the Senate for the first time in twenty-five years. There are several reasons behind the animosity of American’s towards Jimmy Carter at the time and in present day. Ronald Reagan and the Republican Party were preferred over President Carter and the Democratic Party due to international
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In 1994 Kevin Carter won the Pulitzer Prize for Photography thanks to a photograph that he took in the village of Ayod in Sudan of a child crawling towards a feeding center. Whether it was morally right for him to have captured that moment instead of helping the child is a debate with many people. Some people believe that it was right because it helped stop the famine in Africa‚ others believe it was wrong because he did not aid the child after taking the picture. It is understood that there was
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INTRODUCTION TO INVESTMENT MANAGEMENT The Concept of Investment: □ An investment is the current commitment of funds for a period of time in order to derive future benefits. □ Investing involves making a sacrifice in the present consumption in the hope of deriving benefits in the future. □ Every investment decision has two aspects; Risks and Returns: □ Every investor looks to be compensated for; i) Time the funds are committed ii) The expected rate of inflation
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