Johnson is from the Department of Finance, Northern Illinois University. Pari is from Sanford Bernstein and Company. Rosenthal is from the Department of Finance, Bentley College. An earlier version of this paper was presented at the 1986 FMA meeting. Subsequent revisions and results remain the sole responsibility of Johnson and Pari. This research was supported, in part, by a grant from the College of Business, Northern Illinois University. The authors are grateful to Chet Ragavan of the Fixed Income Research Group at Merrill Lynch Capital Markets for providing the bond data, to Pamela Peterson for her helpful comments on earlier drafts of the paper, and especially to David Mayers, the co-editor, for his invaluable assistance.
The Impact of In-Substance Defeasance on Bondholder and Shareholder Wealth
Version of Record online: 30 APR 2012
© 1989 the American Finance Association
The Journal of Finance
Volume 44, Issue 4, pages 1049–1057, September 1989
How to Cite
JOHNSON, J. M., PARI, R. A. and ROSENTHAL, L. (1989), The Impact of In-Substance Defeasance on Bondholder and Shareholder Wealth. The Journal of Finance, 44: 1049–1057. doi: 10.1111/j.1540-6261.1989.tb02638.x
- Issue online: 30 APR 2012
- Version of Record online: 30 APR 2012
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