Efficiency analysis in the eurobond market before and during the economic crisis (2004-2012)

被引：0

作者：

Guaita Martinez, Jose Manuel ^{[1
]}

Marti Selva, Maria Luisa ^{[2
]}

Puertas Medina, Rosa Maria ^{[2
]}

机构：

[1] Univ Int Valencia, Dept Contabilidad & Finanzas, Valencia, Spain

[2] Univ Politecn Valencia, Dept Econ & Ciencias Sociales, Valencia, Spain

来源：

JOURNAL OF INNOVATION & KNOWLEDGE | 2016年 / 1卷 / 02期

关键词：

Eurobonds; Efficiency; Economic crisis and spread; UNITED-STATES;

D O I：

10.1016/j.jik.2016.01.017

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The aim of this paper is to evaluate the efficiency, using data envelopment analysis, in eurobond issues fixed rate in the period 2004-2012, assessing the impact of the financial crisis in that market. Following the development of a database consisting of 1,999 Eurobonds, the results show that in the years before the crisis starts the efficient issues volume was bigger, being the inefficient ones very close to the border. From 2007, we can see a drastic change in the market conditions, detecting a departure substantial and widespread production frontier. (C) 2016 Journal of Innovation & Knowledge. Published by Elsevier Espana, S.L.U. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

引用

页码：81 / 90

页数：10

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