01741cas a2200241 a 4500 AALejournalIMF000404 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451850604 1018-5941 BD-DhAAL BD-DhAAL Izvorski, Ivailo. Recovery Ratios and Survival Times for Corporate Bonds / Ivailo Izvorski. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (32 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper analyzes the determinants of the recovery ratios and survival times (time until default) for U. S. corporate bonds. We show that seniority, the type of industry in which the firm operates, and the type of restructuring attempted after default are the major determinants of the cross-sectional distribution of individual bond recovery ratios. On an industry level, physical asset obsolescence, industry growth, and industry concentration are the most important factors. We also analyze survival times for corporate bonds and find that initial time to maturity and the general economic conditions at maturity and default explain a large fraction of the cross-sectional variation of survival times. Mode of access: Internet IMF Working Papers; Working Paper ; No. 1997/084 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/084/001.1997.issue-084-en.xml IMF e-Library