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The Brazilian real estate securitization market: determinants of pricing
The pricing of Real Estate Receivables Certificates (CRIs) is investigated in relation to the underlying assets and level of guarantees, as far as volume, maturity and rating variables are controlled for. An added average ...
The role of bond covenants and short-term debt: evidence from Brazil
This paper examines the relationship between covenants, short-term and long-term debt with companies which face growth opportunities. Using a sample of 159 Brazilian corporate bonds, we found evidence that: 1) Covenants ...