Affiliation:
1. John E. Anderson Graduate School of Management, University of California–Los Angeles.
Abstract
This paper examines whether a firm's stock price response to the new information provided by a bond rating change is related to its net intangible assets. A variable used to measure net intangible assets, which is based on current cost data, is found to have significant explanatory power in cross-sectional regressions for the set of rating downgrades.
Subject
Economics, Econometrics and Finance (miscellaneous),Finance,Accounting
Cited by
51 articles.
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