| Autor: |
Alessandro Giovanni Grasso, Francesco Pattarin |
| Rok vydání: |
2019 |
| Předmět: |
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| Zdroj: |
Palgrave Macmillan Studies in Banking and Financial Institutions ISBN: 9783030162948 |
| DOI: |
10.1007/978-3-030-16295-5_2 |
| Popis: |
The Italian Minibond market was born in 2013 and was expected to ease debt financing of SMEs as a complementary channel to bank credit. In this chapter, we investigate what were the determinants of the issuing prices of Minibonds in the ExtraMotPro market from 2013 to 2016, with a special focus on small listings by non-financial issuers and on default risk. We find evidence that the rating of Minibond issuers by credit rating agencies did not help investors reduce information asymmetries about their creditworthiness. |
| Databáze: |
OpenAIRE |
| Externí odkaz: |
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