Research Catalog

Title

High yield bonds : market structure, portfolio management, and credit risk modeling / edited by Theodore M. Barnhill, Jr., William F. Maxwell, and Mark R. Shenkman.

Publication

New York : McGraw-Hill, [1999], ©1999.

Items in the Library & Off-site

Details

Additional Authors

• Barnhill, Theodore M.
• Maxwell, William F., 1965-
• Shenkman, Mark R.

Description

xxxii, 574 pages : illustrations; 24 cm.

Summary

• High-Yield Bonds provides state-of-the-art research, strategies, and tools - alongside the expert analysis of respected authorities to help you truly understand today's high-yield market.
• High-Yield Bonds provides extensive coverage of bond valuation and the construction and management of high-yield portfolios. Advanced Monte Carlo simulation models for the valuation of bonds and options on bonds as well as risk assessments on portfolios of bonds under conditions of correlated interest rate and credit risk are demonstrated.
• High-Yield Bonds will provide you with a valuable reference to this fascinating and constantly changing class of securities, helping you assemble a stable, diversified portfolio of fixed income investments that provides the greatest returns and the lowest risks.

Series Statement

Irwin library of investment & finance

Uniform Title

Irwin library of investment & finance.

Subjects

• Portfolio management
• Credit
• Junk bonds

Note

• Series statement from jacket.

Bibliography (note)

• Includes bibliographical references and index.

Contents

• Pt. 1. Market Structure. 1. The High Yield Market. 2. Changes in the High Yield Market: A Historic Perspective. 3. The Leveraged Loan Market. 4. The Globalization of the High Yield Market -- Pt. 2. Security Risk Analysis. 5. Historical Default Rates of Corporate Bond Issuers, 1920-1996. 6. Almost Everything You Wanted to Know about Recoveries on Defaulted Bonds. 7. Moody's Rating Migration and Credit Quality Correlation, 1920-1996. 8. Modeling Bond Rating Changes for Credit Risk Estimation. 9. Real Interest Rates and the Default Rate on High Yield Bonds -- Pt. 3. Security Valuation. 10. Valuing Like-Rated Senior and Subordinated Debt. 11. Determinants of Spreads on New High Yield Bond Offerings. 12. Analyzing a High Yield Issue. 13. Valuing Bonds and Options on Bonds Having Correlated Interest Rate and Credit Risk -- Pt. 4. Market Valuation Models. 14. Monetary Influences on the High Yield Spread versus Treasuries. 15. Modeling the Yields on Noninvestment-Grade Bonds.
• 16. The January Effect in the Corporate Bond Market: A Systematic Examination -- Pt. 5. Portfolio Management. 17. High Yield as an Asset Class. 18. An Analysis of High Yield Bond Indices. 19. How Many High Yield Bonds Make a Diversified Portfolio? 20. Managing a High Yield Portfolio. 21. Monitoring a High Yield Portfolio. 22. Modeling High Yield Bond Portfolios with Correlated Interest Rate and Credit Risk -- Pt. 6. Investing in Distressed Securities. 23. Do Seniority Provisions Protect Bondholders' Investments? 24. Investing in Distressed Situations: A Market Survey. 25. Analyzing the Credit Risk of Distressed Securities -- Pt. 7. Corporate Finance. 26. Strategic Financing Choices for Emerging Firms: Debt versus Equity. 27. The Advantages and Disadvantages of Public versus Private Issuances of High Yield Debt Securities. 28. Managing Default: Some Evidence on How Firms Choose between Workouts and Chapter 11.

ISBN

0070067864

LCCN

98040324

OCLC

ocm39756245

Owning Institutions

Columbia University Libraries