The Bond-Type Effect on Yield to Maturity
发现债券类型对到期收益率的影响远大于票息效应，通过分析年金债券、系列债券和固定票息债券来证明这一点，对债券定价和投资决策有参考价值。
A bond-type effect which supplements the well-known coupon effect on yield to maturity is presented in this paper. By analyzing annuity bonds, ser ial bonds, and fixed-coupon bonds, it is shown that the bond-type eff ect is substantially larger than the coupon effect, which would hardl y be detectable in prices quoted on the bond market. Copyright 1987 by The editors of the Scandinavian Journal of Economics.