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Determinants of credit default swap (CDS) spreads in Latin America : an empirical analysis of corporate debt in public and private companies

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dc.contributor.authorCayón Fallon, Edgardospa
dc.contributor.authorPerilla, Juan Manuelspa
dc.contributor.orcidCayón Fallon, Edgardo [0000-0002-4113-5521]
dc.contributor.scopusCayón Fallon, Edgardo [56395390800]
dc.contributor.scopusPerilla, Juan Manuel [57205439569]
dc.date.accessioned2023-06-21T22:23:07Z
dc.date.available2023-06-21T22:23:07Z
dc.date.issued2018
dc.description.abstractenglishIn this article we have examined the effects of the common determinants of credit quality such as cash, debt, and tangibility on CDS spreads in Latin America. Our sample consists of 50 Latin American companies, while the period under consideration is between 2006 and 2016. Using the panel regression model in which we have controlled for year and company effects, we have found that certain proxies for cash, debt, and tangibility could explain the variation in CDS spreads in publicly traded companies, but not in the case of private companies that trade bonds at international markets. For private companies in Latin America, none of the common determinants for spreads were statistically significant. For public companies, we have found that the most statistically significant proxies for cash, debt, and tangibility explaining the variation in CDS spreads are retained earnings, total debt/total assets, inventories, and fixed assets. Our results show that in the case of private companies of Latin America, the common CDS spreads determinants found in literature do not help explaining the variation in spreads.eng
dc.description.orcidhttps://orcid.org/0000-0002-4113-5521
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=56395390800
dc.description.scopushttps://www.scopus.com/authid/detail.uri?authorId=57205439569
dc.identifier.eissn2306-3483
dc.identifier.instnameinstname:Colegio de Estudios Superiores de Administración – CESA
dc.identifier.issn2071-8330
dc.identifier.reponamereponame:Biblioteca Digital – CESA
dc.identifier.repourlrepourl:https://repository.cesa.edu.co/
dc.identifier.urihttp://hdl.handle.net/10726/5098
dc.identifier.urlhttps://www.jois.eu/files/4_517_Cayon_Perilla.pdf
dc.language.isoeng
dc.publisherCentrum Badan Socjologicznych
dc.relation.citationendpage68
dc.relation.citationissue4
dc.relation.citationstartpage57
dc.relation.citationvolume11
dc.relation.ispartofjournalJournal of International Studies
dc.rights.accessrightsinfo:eu-repo/semantics/openAccess
dc.rights.coarhttp://purl.org/coar/access_right/c_abf2
dc.rights.localAbierto (Texto Completo)
dc.subject.proposalLatin American bonds
dc.subject.proposalCorporate debt
dc.subject.proposalDeterminants
dc.subject.proposalPanel regression
dc.subject.proposalPublic companies
dc.subject.proposalPrivate companies
dc.titleDeterminants of credit default swap (CDS) spreads in Latin America : an empirical analysis of corporate debt in public and private companieseng
dc.typearticle
dc.type.coarhttp://purl.org/coar/resource_type/c_2df8fbb1
dc.type.coarversionhttp://purl.org/coar/version/c_71e4c1898caa6e32
dc.type.driverinfo:eu-repo/semantics/article
dc.type.redcolhttp://purl.org/redcol/resource_type/ART
dc.type.versioninfo:eu-repo/semantics/acceptedVersion

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