Can stock returns be used as a proxy for corporate
bond yields?

Grønning, Stian Ek

dc.contributor.advisor	Sirnes, Espen
dc.contributor.author	Grønning, Stian Ek
dc.date.accessioned	2014-12-02T11:49:53Z
dc.date.available	2014-12-02T11:49:53Z
dc.date.issued	2014-06-04
dc.description.abstract	In this paper, I have investigated the relationship between the change in yield and stock returns for 27 firms for 47 consecutive business days. Firstly, I have found that there is an inverse relationship between the rating of firms and the degree of correlation between the stock return and the change in yield for bonds issued by the same firm. Secondly, I have not successfully managed to demonstrate that this relationship has a timing property in general. It was found for only one of the firms. Thirdly, it seems that the most common feature among the firms that exhibits a significant relationship is a large and sudden change of the stock price, but I have not statistical evidence for this claim.	en
dc.identifier.uri	https://hdl.handle.net/10037/6861
dc.identifier.urn	URN:NBN:no-uit_munin_6461
dc.language.iso	eng	en
dc.publisher	UiT Norges arktiske universitet	en
dc.publisher	UiT The Arctic University of Norway	en
dc.rights.accessRights	openAccess
dc.rights.holder	Copyright 2014 The Author(s)
dc.rights.uri	https://creativecommons.org/licenses/by-nc-sa/3.0	en_US
dc.rights	Attribution-NonCommercial-ShareAlike 3.0 Unported (CC BY-NC-SA 3.0)	en_US
dc.subject.courseID	SOK-3901	en
dc.subject	VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212	en
dc.subject	VDP::Social science: 200::Economics: 210::Economics: 212	en
dc.subject	VDP::Samfunnsvitenskap: 200::Økonomi: 210::Økonometri: 214	en
dc.subject	VDP::Social science: 200::Economics: 210::Econometrics: 214	en
dc.title	Can stock returns be used as a proxy for corporate bond yields?	en
dc.type	Master thesis	en
dc.type	Mastergradsoppgave	en