Bondholder Concentration and Credit Risk: Evidence from a Natural Experiment

Table C.I Effect of hurricane Katrina on bondholder concentration, issuer-level regressions – cont’d

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• Panel B. Firm-level regression, equal-weighted bondholder concentration

Table C.I Effect of hurricane Katrina on bondholder concentration, issuer-level regressions – cont’d Panel A. Issuer-level regressions, holdings-weighted bondholder concentration (1) (2) (3) (4)  (2005Q3) -0.3763*** -4.83  (2005Q3-Q4) -0.3833*** -5.01  (2005Q3-2006Q1) -0.3969*** -4.81  (2005Q3-2006Q2) -0.3708*** -4.57  0.4838*** 0.4851*** 0.4900*** 0.4864*** 5.92 6.04 6.17 6.08 [Control variables suppressed] N. Obs. 13257 13257 13257 13257 R2 0.12 0.12 0.12 0.12 Industry, Rating, Date indicators Y Y Y Y Issuer-Seniority class f.e. Y Y Y Y F-test (coeff. on  equals 0) 23.38*** 25.12*** 23.18*** 20.86*** Panel B. Firm-level regression, equal-weighted bondholder concentration (1) (2) (3) (4)  (2005Q3) -0.3898*** -5.20  (2005Q3-Q4) -0.3557*** -3.91  (2005Q3-2006Q1) -0.3349*** -3.37  (2005Q3-2006Q2) -0.2742* -1.95  0.4884*** 0.4817*** 0.4790*** 0.4692*** 6.25 6.15 6.08 5.73 [Control variables suppressed] N. Obs. 13257 13257 13257 13257 R2 0.12 0.12 0.12 0.12 Industry, Rating, Date indicators Y Y Y Y Issuer-Seniority class f.e. Y Y Y Y F-test (coeff. on  equals 0) 27.07*** 15.28*** 11.33*** 3.78* Directory: content -> suppl -> 2015 suppl -> Background Information on Ilvaite suppl -> Torres-Miranda et al. American Journal of Botany suppl -> Assessment of the acoustic telemetry positioning system suppl -> Additional File 1 Text summary suppl -> Additional file 5, Table costs and ccdss process-related outcomes for trials of acute care management a suppl -> Supplementary Notes and Figures 2015 -> Table strains, plasmids, and primers Download 276.61 Kb. Share with your friends: