Friday, September 23, 2011

27 September 2011: New Thinking on Building the Corporate Bond Market

Sanjay Banerji
University of Nottingham Business School

Abstract: The paper will review the existing theories of asymmetric information that strongly argues issuance of debt as a superior method of financing that tends to alleviate agency problems. It will also establish the case for a corporate bond market as a means of issuing debt even in the presence of bank loans as providers of debt to firms. Finally, we also argue that the exercise of instituting the corporate bond market will be futile unless it is designed in such a way to minimize information, liquidity and bankruptcy costs.

Date: September 27, 2011
Time: 04:00 P.M.

NIPFP Auditorium (Ground Floor), Old Building
National Institute of Public Finance and Policy,
18/2 Satsang Vihar Marg, Special Institutional Area,
New Delhi-110067(INDIA)


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