TY  - UNPD
A1  - Pianeselli, Daniele
A1  - Zaghini, Andrea
T1  - The cost of firms' debt financing
T2  - Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2013,03
N2  - We provide an assessment of the determinants of the risk remia paid by non-financial corporations on long-term bonds. By looking at 5,500 issues over the period 2005-2012, we find that in recent years the sovereign debt market turbulence has been a major driver of corporate risk. Compared with the three-year period 2005-07 before the global financial crisis, in the years 2010-12 Italian, Spanish and Portuguese firms paid on average between 70 and 120 basis points of additional premium due to the negative spillovers from the sovereign debt crisis, while German firms got a discount of 40 basis points.
T3  - CFS working paper series - 2013, 03 
KW  - Corporate bonds
KW  - Risk-premium
KW  - Too big to fail
KW  - Sovereign debt crisis
Y1  - 2013
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/32480
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-324807
PB  - Center for Financial Studies
CY  - Frankfurt, M.
ER  -