A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures

This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market.

Auteur(s) :

Felix Goltz

Head of applied research at EDHEC-Risk Institute.

Carlos Heitor Campani

Research assistant at EDHEC-Risk Institute

First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time.
Pdf
A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneit...
(-1.00 B)
Type : Publication EDHEC
Date : le 24/06/2011
Complément d'informations For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School.
Pôle de recherche Finance

A voir également

Programmes intra-entreprises : accompagner vos managers dans la transformation digitale
Actualités
- 09-07-2018
Pour relever les défis d’un monde du business en perpétuelle transformation, l’EDHEC...
« Dissemin’Actions » de l’EDHEC Family Business Centre
Actualités
- 05-07-2018
Depuis le début de l’année 2018, les chercheurs et enseignants du Family Business...
Partenariat éditorial entre les Echos Solutions et l’EDHEC Family Business Centre
Actualités
- 05-07-2018
Le 20 juin 2018, première contribution du Family Business Centre dans les Echos...
L’EDHEC Executive MBA dans le Top 10 en Europe selon le classement de The Economist
Actualités
- 03-07-2018
Pour la première fois candidat à ce classement publié le 2 juillet par The Economist, l...
object(FacebookApiException)#3109 (8) { ["result":protected]=> array(1) { ["error"]=> array(5) { ["message"]=> string(38) "(#4) Application request limit reached" ["type"]=> string(14) "OAuthException" ["is_transient"]=> bool(true) ["code"]=> int(4) ["fbtrace_id"]=> string(11) "EUrvz4YnE+O" } } ["message":protected]=> string(38) "(#4) Application request limit reached" ["string":"Exception":private]=> string(0) "" ["code":protected]=> int(0) ["file":protected]=> string(131) "/var/www/html/edhec-drupal-2.pictime.fr/sites/www.edhec-portail.pprod.net/modules/custom/social/includes/facebook/base_facebook.php" ["line":protected]=> int(1325) ["trace":"Exception":private]=> array(15) { [0]=> array(6) { ["file"]=> string(131) "/var/www/html/edhec-drupal-2.pictime.fr/sites/www.edhec-portail.pprod.net/modules/custom/social/includes/facebook/base_facebook.php" ["line"]=> int(896) ["function"]=> string(17) "throwAPIException" ["class"]=> string(12) "BaseFacebook" ["type"]=> string(2) "->" ["args"]=> array(1) { [0]=> &array(1) { ["error"]=> array(5) { ["message"]=> string(38) "(#4) Application request limit reached" ["type"]=> string(14) "OAuthException" ["is_transient"]=> bool(true) ["code"]=> int(4) ["fbtrace_id"]=> string(11) "EUrvz4YnE+O" } } } } [1]=> array(4) { ["function"]=> string(6) "_graph" ["class"]=> string(12) "BaseFacebook" ["type"]=> string(2) "->" ["args"]=> array(1) { [0]=> &string(18) "/153577078551/feed" } } [2]=> array(4) { ["file"]=> string(131) "/var/www/html/edhec-drupal-2.pictime.fr/sites/www.edhec-portail.pprod.net/modules/custom/social/includes/facebook/base_facebook.php" ["line"]=> int(672) ["function"]=> string(20) "call_user_func_array" ["args"]=> array(2) { [0]=> &array(2) { [0]=> object(Facebook)#3104 (10) { ["sharedSessionID":protected]=> NULL ["appId":protected]=> string(15) "934140480029912" ["appSecret":protected]=> string(32) "2137b92265281fe099902a43a14609d0" ["user":protected]=> NULL ["signedRequest":protected]=> NULL ["state":protected]=> NULL ["accessToken":protected]=> string(48) "934140480029912|2137b92265281fe099902a43a14609d0" ["fileUploadSupport":protected]=> bool(false) ["trustForwarded":protected]=> bool(false) ["allowSignedRequest":protected]=> bool(true) } [1]=> string(6) "_graph" } [1]=> &array(1) { [0]=> string(18) "/153577078551/feed" } } } [3]=> array(6) { ["file"]=> string(109) "/var/www/html/edhec-drupal-2.pictime.fr/sites/www.edhec-portail.pprod.net/modules/custom/social/social.module" ["line"]=> int(187) ["function"]=> string(3) "api" ["class"]=> string(12) "BaseFacebook" ["type"]=> string(2) "->" ["args"]=> array(1) { [0]=> &string(18) "/153577078551/feed" } } [4]=> array(4) { ["file"]=> string(109) "/var/www/html/edhec-drupal-2.pictime.fr/sites/www.edhec-portail.pprod.net/modules/custom/social/social.module" ["line"]=> int(16) ["function"]=> string(18) "social_getFacebook" ["args"]=> array(0) { } } [5]=> array(2) { ["function"]=> string(11) "social_cron" ["args"]=> array(0) { } } [6]=> array(4) { ["file"]=> string(59) "/var/www/html/edhec-drupal-2.pictime.fr/includes/module.inc" ["line"]=> int(926) ["function"]=> string(20) "call_user_func_array" ["args"]=> array(2) { [0]=> &string(11) "social_cron" [1]=> &array(0) { } } } [7]=> array(4) { ["file"]=> string(59) "/var/www/html/edhec-drupal-2.pictime.fr/includes/common.inc" ["line"]=> int(5423) ["function"]=> string(13) "module_invoke" ["args"]=> array(2) { [0]=> &string(6) "social" [1]=> &string(4) "cron" } } [8]=> array(4) { ["file"]=> string(68) "/var/www/html/edhec-drupal-2.pictime.fr/modules/system/system.module" ["line"]=> int(3560) ["function"]=> string(15) "drupal_cron_run" ["args"]=> array(0) { } } [9]=> array(4) { ["file"]=> string(59) "/var/www/html/edhec-drupal-2.pictime.fr/includes/common.inc" ["line"]=> int(2784) ["function"]=> string(25) "system_run_automated_cron" ["args"]=> array(0) { } } [10]=> array(4) { ["file"]=> string(59) "/var/www/html/edhec-drupal-2.pictime.fr/includes/common.inc" ["line"]=> int(2756) ["function"]=> string(18) "drupal_page_footer" ["args"]=> array(0) { } } [11]=> array(4) { ["file"]=> string(76) "/var/www/html/edhec-drupal-2.pictime.fr/sites/all/modules/boost/boost.module" ["line"]=> int(1450) ["function"]=> string(24) "drupal_deliver_html_page" ["args"]=> array(1) { [0]=> &array(1) { ["nodes"]=> array(2) { [10375]=> array(17) { ["body"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "2" ["#title"]=> string(13) "Présentation" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(4) "body" ["#field_type"]=> string(17) "text_with_summary" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(1072) "

First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time.

" } } ["field_date"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "0" ["#title"]=> string(4) "Date" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(10) "field_date" ["#field_type"]=> string(8) "datetime" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } ["#formatter"]=> string(12) "date_default" [0]=> array(1) { ["#markup"]=> string(23) "Vendredi, 24 juin, 2011" } } ["field_image_publication"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "1" ["#title"]=> string(5) "Image" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(23) "field_image_publication" ["#field_type"]=> string(5) "image" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } ["#formatter"]=> string(5) "image" [0]=> array(4) { ["#theme"]=> string(15) "image_formatter" ["#item"]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } ["#image_style"]=> string(0) "" ["#path"]=> string(0) "" } } ["field_documents"]=> array(19) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "4" ["#title"]=> string(9) "Documents" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(15) "field_documents" ["#field_type"]=> string(16) "field_collection" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } ["#formatter"]=> string(21) "field_collection_view" [0]=> array(4) { ["entity"]=> array(1) { ["field_collection_item"]=> array(1) { [8637]=> array(11) { ["#view_mode"]=> string(4) "full" ["field_title"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "1" ["#title"]=> string(5) "Title" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(11) "field_title" ["#field_type"]=> string(4) "text" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#object"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } ["#formatter"]=> string(10) "text_plain" [0]=> array(1) { ["#markup"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } ["field_fichier"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "2" ["#title"]=> string(7) "Fichier" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(13) "field_fichier" ["#field_type"]=> string(4) "file" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#object"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } ["#formatter"]=> string(12) "file_default" [0]=> array(2) { ["#theme"]=> string(9) "file_link" ["#file"]=> object(stdClass)#352 (13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(275) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "0" ["#title"]=> string(15) "Type de fichier" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(21) "field_type_de_fichier" ["#field_type"]=> string(23) "taxonomy_term_reference" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#object"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } ["#formatter"]=> string(29) "taxonomy_term_reference_plain" [0]=> array(1) { ["#markup"]=> string(3) "Pdf" } } ["#pre_render"]=> array(1) { [0]=> string(30) "_field_extra_fields_pre_render" } ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#theme"]=> string(6) "entity" ["#entity"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#language"]=> string(2) "fr" ["#page"]=> NULL } } } ["#theme_wrappers"]=> array(1) { [0]=> string(21) "field_collection_view" } ["#attributes"]=> array(1) { ["class"]=> array(4) { [0]=> string(21) "field-collection-view" [1]=> string(8) "clearfix" [2]=> string(14) "view-mode-full" [3]=> string(27) "field-collection-view-final" } } ["links"]=> array(2) { ["#theme"]=> string(28) "links__field_collection_view" ["#attributes"]=> array(1) { ["class"]=> array(1) { [0]=> string(27) "field-collection-view-links" } } } } ["#prefix"]=> string(49) "
" ["#suffix"]=> string(6) "
" ["#attached"]=> array(1) { ["css"]=> array(1) { [0]=> string(61) "sites/all/modules/field_collection/field_collection.theme.css" } } } ["field_complement_d_information"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "3" ["#title"]=> string(27) "Information complémentaire" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(30) "field_complement_d_information" ["#field_type"]=> string(9) "text_long" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(277) "

For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ]

The contents of this paper do not necessarily reflect the opinions of EDHEC Business School.

" } } ["field_publication_auteur"]=> array(21) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "6" ["#title"]=> string(9) "Auteur(s)" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(24) "field_publication_auteur" ["#field_type"]=> string(16) "field_collection" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } ["#formatter"]=> string(21) "field_collection_view" [0]=> array(4) { ["entity"]=> array(1) { ["field_collection_item"]=> array(1) { [8638]=> array(11) { ["#view_mode"]=> string(4) "full" ["field_nom"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "0" ["#title"]=> string(3) "Nom" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(9) "field_nom" ["#field_type"]=> string(4) "text" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#object"]=> object(FieldCollectionItemEntity)#354 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "7749fa55-4f3a-423a-8e32-30b207d243b1" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } } ["field_professeur_edhec"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." ["format"]=> NULL ["safe_value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(11) "Felix Goltz" } } ["field_professeur_edhec"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "2" ["#title"]=> string(16) "Professeur Edhec" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(22) "field_professeur_edhec" ["#field_type"]=> string(15) "entityreference" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#object"]=> object(FieldCollectionItemEntity)#354 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "7749fa55-4f3a-423a-8e32-30b207d243b1" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } } ["field_professeur_edhec"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." ["format"]=> NULL ["safe_value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } ["#formatter"]=> string(21) "entityreference_label" [0]=> array(5) { ["#theme"]=> string(21) "entityreference_label" ["#label"]=> string(16) "GOLTZ Felix, PhD" ["#item"]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } ["#uri"]=> NULL ["#settings"]=> array(2) { ["display"]=> array(2) { ["link"]=> bool(false) ["bypass_access"]=> bool(false) } ["field"]=> array(3) { ["target_type"]=> string(4) "node" ["handler"]=> string(4) "base" ["handler_settings"]=> array(3) { ["target_bundles"]=> array(1) { ["personne"]=> string(8) "personne" } ["sort"]=> array(3) { ["type"]=> string(8) "property" ["property"]=> string(5) "title" ["direction"]=> string(3) "ASC" } ["behaviors"]=> array(1) { ["views-select-list"]=> array(1) { ["status"]=> int(0) } } } } } } } ["field_fonction"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "3" ["#title"]=> string(8) "Fonction" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(14) "field_fonction" ["#field_type"]=> string(9) "text_long" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#object"]=> object(FieldCollectionItemEntity)#354 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "7749fa55-4f3a-423a-8e32-30b207d243b1" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } } ["field_professeur_edhec"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." ["format"]=> NULL ["safe_value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." ["format"]=> NULL ["safe_value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } ["#pre_render"]=> array(1) { [0]=> string(30) "_field_extra_fields_pre_render" } ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#theme"]=> string(6) "entity" ["#entity"]=> object(FieldCollectionItemEntity)#354 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "7749fa55-4f3a-423a-8e32-30b207d243b1" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } } ["field_professeur_edhec"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." ["format"]=> NULL ["safe_value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#language"]=> string(2) "fr" ["#page"]=> NULL } } } ["#theme_wrappers"]=> array(1) { [0]=> string(21) "field_collection_view" } ["#attributes"]=> array(1) { ["class"]=> array(3) { [0]=> string(21) "field-collection-view" [1]=> string(8) "clearfix" [2]=> string(14) "view-mode-full" } } ["links"]=> array(2) { ["#theme"]=> string(28) "links__field_collection_view" ["#attributes"]=> array(1) { ["class"]=> array(1) { [0]=> string(27) "field-collection-view-links" } } } } [1]=> array(4) { ["entity"]=> array(1) { ["field_collection_item"]=> array(1) { [8639]=> array(10) { ["#view_mode"]=> string(4) "full" ["field_nom"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "0" ["#title"]=> string(3) "Nom" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(9) "field_nom" ["#field_type"]=> string(4) "text" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#object"]=> object(FieldCollectionItemEntity)#363 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "50327794-d67c-46c7-9456-a5bfec215732" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(21) "Carlos Heitor Campani" ["format"]=> NULL ["safe_value"]=> string(21) "Carlos Heitor Campani" } } } ["field_professeur_edhec"]=> array(0) { } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(42) "Research assistant at EDHEC-Risk Institute" ["format"]=> NULL ["safe_value"]=> string(42) "Research assistant at EDHEC-Risk Institute" } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(21) "Carlos Heitor Campani" ["format"]=> NULL ["safe_value"]=> string(21) "Carlos Heitor Campani" } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(21) "Carlos Heitor Campani" } } ["field_fonction"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "3" ["#title"]=> string(8) "Fonction" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(14) "field_fonction" ["#field_type"]=> string(9) "text_long" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#object"]=> object(FieldCollectionItemEntity)#363 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "50327794-d67c-46c7-9456-a5bfec215732" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(21) "Carlos Heitor Campani" ["format"]=> NULL ["safe_value"]=> string(21) "Carlos Heitor Campani" } } } ["field_professeur_edhec"]=> array(0) { } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(42) "Research assistant at EDHEC-Risk Institute" ["format"]=> NULL ["safe_value"]=> string(42) "Research assistant at EDHEC-Risk Institute" } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(42) "Research assistant at EDHEC-Risk Institute" ["format"]=> NULL ["safe_value"]=> string(42) "Research assistant at EDHEC-Risk Institute" } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(42) "Research assistant at EDHEC-Risk Institute" } } ["#pre_render"]=> array(1) { [0]=> string(30) "_field_extra_fields_pre_render" } ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#theme"]=> string(6) "entity" ["#entity"]=> object(FieldCollectionItemEntity)#363 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "50327794-d67c-46c7-9456-a5bfec215732" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(21) "Carlos Heitor Campani" ["format"]=> NULL ["safe_value"]=> string(21) "Carlos Heitor Campani" } } } ["field_professeur_edhec"]=> array(0) { } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(42) "Research assistant at EDHEC-Risk Institute" ["format"]=> NULL ["safe_value"]=> string(42) "Research assistant at EDHEC-Risk Institute" } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#language"]=> string(2) "fr" ["#page"]=> NULL } } } ["#theme_wrappers"]=> array(1) { [0]=> string(21) "field_collection_view" } ["#attributes"]=> array(1) { ["class"]=> array(3) { [0]=> string(21) "field-collection-view" [1]=> string(8) "clearfix" [2]=> string(14) "view-mode-full" } } ["links"]=> array(2) { ["#theme"]=> string(28) "links__field_collection_view" ["#attributes"]=> array(1) { ["class"]=> array(1) { [0]=> string(27) "field-collection-view-links" } } } } [2]=> array(1) { ["#attributes"]=> array(1) { ["class"]=> array(1) { [0]=> string(27) "field-collection-view-final" } } } ["#prefix"]=> string(49) "
" ["#suffix"]=> string(6) "
" ["#attached"]=> array(1) { ["css"]=> array(1) { [0]=> string(61) "sites/all/modules/field_collection/field_collection.theme.css" } } } ["#pre_render"]=> array(1) { [0]=> string(30) "_field_extra_fields_pre_render" } ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["links"]=> array(4) { ["#theme"]=> string(11) "links__node" ["#pre_render"]=> array(1) { [0]=> string(23) "drupal_pre_render_links" } ["#attributes"]=> array(1) { ["class"]=> array(2) { [0]=> string(5) "links" [1]=> string(6) "inline" } } ["node"]=> array(3) { ["#theme"]=> string(17) "links__node__node" ["#links"]=> array(0) { } ["#attributes"]=> array(1) { ["class"]=> array(2) { [0]=> string(5) "links" [1]=> string(6) "inline" } } } } ["language"]=> array(3) { ["#type"]=> string(4) "item" ["#title"]=> string(6) "Langue" ["#markup"]=> string(9) "Undefined" } ["#attached"]=> array(1) { ["js"]=> array(2) { ["modules/statistics/statistics.js"]=> array(1) { ["scope"]=> string(6) "footer" } [0]=> array(2) { ["data"]=> array(1) { ["statistics"]=> array(2) { ["data"]=> array(1) { ["nid"]=> string(5) "10375" } ["url"]=> string(37) "/fr/modules/statistics/statistics.php" } } ["type"]=> string(7) "setting" } } } ["#view_mode"]=> string(4) "full" ["#theme"]=> string(4) "node" ["#node"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#language"]=> string(2) "fr" ["#weight"]=> int(0) } ["#sorted"]=> bool(true) } } } } [12]=> array(4) { ["file"]=> string(59) "/var/www/html/edhec-drupal-2.pictime.fr/includes/common.inc" ["line"]=> int(2625) ["function"]=> string(23) "boost_deliver_html_page" ["args"]=> array(1) { [0]=> &array(1) { ["nodes"]=> array(2) { [10375]=> array(17) { ["body"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "2" ["#title"]=> string(13) "Présentation" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(4) "body" ["#field_type"]=> string(17) "text_with_summary" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(1072) "

First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time.

" } } ["field_date"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "0" ["#title"]=> string(4) "Date" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(10) "field_date" ["#field_type"]=> string(8) "datetime" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } ["#formatter"]=> string(12) "date_default" [0]=> array(1) { ["#markup"]=> string(23) "Vendredi, 24 juin, 2011" } } ["field_image_publication"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "1" ["#title"]=> string(5) "Image" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(23) "field_image_publication" ["#field_type"]=> string(5) "image" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } ["#formatter"]=> string(5) "image" [0]=> array(4) { ["#theme"]=> string(15) "image_formatter" ["#item"]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } ["#image_style"]=> string(0) "" ["#path"]=> string(0) "" } } ["field_documents"]=> array(19) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "4" ["#title"]=> string(9) "Documents" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(15) "field_documents" ["#field_type"]=> string(16) "field_collection" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } ["#formatter"]=> string(21) "field_collection_view" [0]=> array(4) { ["entity"]=> array(1) { ["field_collection_item"]=> array(1) { [8637]=> array(11) { ["#view_mode"]=> string(4) "full" ["field_title"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "1" ["#title"]=> string(5) "Title" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(11) "field_title" ["#field_type"]=> string(4) "text" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#object"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } ["#formatter"]=> string(10) "text_plain" [0]=> array(1) { ["#markup"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } ["field_fichier"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "2" ["#title"]=> string(7) "Fichier" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(13) "field_fichier" ["#field_type"]=> string(4) "file" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#object"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } ["#formatter"]=> string(12) "file_default" [0]=> array(2) { ["#theme"]=> string(9) "file_link" ["#file"]=> object(stdClass)#352 (13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(275) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "0" ["#title"]=> string(15) "Type de fichier" ["#access"]=> bool(true) ["#label_display"]=> string(6) "hidden" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(21) "field_type_de_fichier" ["#field_type"]=> string(23) "taxonomy_term_reference" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#object"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } ["#formatter"]=> string(29) "taxonomy_term_reference_plain" [0]=> array(1) { ["#markup"]=> string(3) "Pdf" } } ["#pre_render"]=> array(1) { [0]=> string(30) "_field_extra_fields_pre_render" } ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(15) "field_documents" ["#theme"]=> string(6) "entity" ["#entity"]=> object(FieldCollectionItemEntity)#281 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" ["field_name"]=> string(15) "field_documents" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "03c1af37-2e72-4cc1-b674-10642edfd9a5" ["field_title"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["format"]=> NULL ["safe_value"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" } } } ["field_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(13) { ["fid"]=> string(5) "11144" ["uid"]=> string(1) "0" ["filename"]=> string(72) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["uri"]=> string(98) "public://publications/pdf/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1328885974026jpg" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(7) "1436691" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "39397e1b-8cd7-4d3e-a89a-81451d9c05de" ["rdf_mapping"]=> array(0) { } ["display"]=> string(1) "1" ["description"]=> NULL } } } ["field_type_de_fichier"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["tid"]=> string(2) "33" ["taxonomy_term"]=> object(stdClass)#356 (12) { ["tid"]=> string(2) "33" ["vid"]=> string(1) "8" ["name"]=> string(3) "Pdf" ["description"]=> string(0) "" ["format"]=> string(9) "full_html" ["weight"]=> string(1) "0" ["uuid"]=> string(36) "8fcea7ed-9687-49cd-8d86-f09b1383a4e4" ["language"]=> string(3) "und" ["i18n_tsid"]=> string(1) "0" ["vocabulary_machine_name"]=> string(7) "fichier" ["rdf_mapping"]=> array(5) { ["rdftype"]=> array(1) { [0]=> string(12) "skos:Concept" } ["name"]=> array(1) { ["predicates"]=> array(2) { [0]=> string(10) "rdfs:label" [1]=> string(14) "skos:prefLabel" } } ["description"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "skos:definition" } } ["vid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(13) "skos:inScheme" } ["type"]=> string(3) "rel" } ["parent"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(12) "skos:broader" } ["type"]=> string(3) "rel" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } } } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#language"]=> string(2) "fr" ["#page"]=> NULL } } } ["#theme_wrappers"]=> array(1) { [0]=> string(21) "field_collection_view" } ["#attributes"]=> array(1) { ["class"]=> array(4) { [0]=> string(21) "field-collection-view" [1]=> string(8) "clearfix" [2]=> string(14) "view-mode-full" [3]=> string(27) "field-collection-view-final" } } ["links"]=> array(2) { ["#theme"]=> string(28) "links__field_collection_view" ["#attributes"]=> array(1) { ["class"]=> array(1) { [0]=> string(27) "field-collection-view-links" } } } } ["#prefix"]=> string(49) "
" ["#suffix"]=> string(6) "
" ["#attached"]=> array(1) { ["css"]=> array(1) { [0]=> string(61) "sites/all/modules/field_collection/field_collection.theme.css" } } } ["field_complement_d_information"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "3" ["#title"]=> string(27) "Information complémentaire" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(30) "field_complement_d_information" ["#field_type"]=> string(9) "text_long" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(277) "

For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ]

The contents of this paper do not necessarily reflect the opinions of EDHEC Business School.

" } } ["field_publication_auteur"]=> array(21) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "6" ["#title"]=> string(9) "Auteur(s)" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(24) "field_publication_auteur" ["#field_type"]=> string(16) "field_collection" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(4) "node" ["#bundle"]=> string(11) "publication" ["#object"]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } ["#formatter"]=> string(21) "field_collection_view" [0]=> array(4) { ["entity"]=> array(1) { ["field_collection_item"]=> array(1) { [8638]=> array(11) { ["#view_mode"]=> string(4) "full" ["field_nom"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "0" ["#title"]=> string(3) "Nom" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(9) "field_nom" ["#field_type"]=> string(4) "text" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#object"]=> object(FieldCollectionItemEntity)#354 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "7749fa55-4f3a-423a-8e32-30b207d243b1" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } } ["field_professeur_edhec"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." ["format"]=> NULL ["safe_value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } ["#formatter"]=> string(12) "text_default" [0]=> array(1) { ["#markup"]=> string(11) "Felix Goltz" } } ["field_professeur_edhec"]=> array(16) { ["#theme"]=> string(5) "field" ["#weight"]=> string(1) "2" ["#title"]=> string(16) "Professeur Edhec" ["#access"]=> bool(true) ["#label_display"]=> string(5) "above" ["#view_mode"]=> string(4) "full" ["#language"]=> string(3) "und" ["#field_name"]=> string(22) "field_professeur_edhec" ["#field_type"]=> string(15) "entityreference" ["#field_translatable"]=> string(1) "0" ["#entity_type"]=> string(21) "field_collection_item" ["#bundle"]=> string(24) "field_publication_auteur" ["#object"]=> object(FieldCollectionItemEntity)#354 (24) { ["fieldInfo":protected]=> NULL ["hostEntity":protected]=> object(stdClass)#216 (39) { ["vid"]=> string(5) "10375" ["uid"]=> string(1) "0" ["title"]=> string(117) "A Review of Corporate Bond Indices: Construction Principles, Return Heterogeneity, and Fluctuations in Risk Exposures" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "0" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "4e165d57-1f39-4a07-b118-be98529fb0ce" ["nid"]=> string(5) "10375" ["type"]=> string(11) "publication" ["language"]=> string(3) "und" ["created"]=> string(10) "1474027664" ["changed"]=> string(10) "1480342532" ["tnid"]=> string(1) "0" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "ebccbfb3-79cf-4775-bc89-a513bd228544" ["revision_timestamp"]=> string(10) "1480342532" ["revision_uid"]=> string(1) "1" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(1108) " First, we review the uses of bond indices as well as the challenges involved. We then analyse the risk-return properties and the heterogeneity of the indices in each set. Although the indices in each market resemble each other, there are still some differences. Moreover, an analysis of the stability of the indices' risk exposures (interest rate and credit risks) reveals very unstable measures over time and, perhaps most importantly, this instability is accentuated in the two indices with the smallest number of bonds: the more investable the index is meant to be, the less reliable it is. Finally, we find great differences between US and euro-denominated indices: US corporate bond indices showed higher credit risk, with longer terms to maturity and hence longer durations. Therefore, choosing a bond index in US or in Europe seems to be more than just choosing a currency exposure. We ultimately conclude that investors must be aware not only of what bond indices represent but also of how such key features as risk exposures will evolve over time. " ["summary"]=> string(156) "This paper analyses two sets of four corporate investment-grade bond indices each, one for the US market and the other for the euro-denominated bond market." ["format"]=> NULL } } } ["field_type_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "56" } } } ["field_pole_recherche"]=> array(1) { ["und"]=> array(1) { [0]=> array(1) { ["tid"]=> string(2) "60" } } } ["field_date"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(19) "2011-06-24 00:00:00" ["value2"]=> NULL ["timezone"]=> string(12) "Europe/Paris" ["timezone_db"]=> string(12) "Europe/Paris" ["date_type"]=> string(8) "datetime" } } } ["field_image_publication"]=> array(1) { ["und"]=> array(1) { [0]=> array(15) { ["fid"]=> string(5) "11143" ["uid"]=> string(1) "0" ["filename"]=> string(87) "com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["uri"]=> string(116) "public://publications/images/com.univ.collaboratif.utils.LectureFichiergw?ID_FICHIER=1308896853047&ID_FICHE=5944" ["filemime"]=> string(24) "application/octet-stream" ["filesize"]=> string(4) "9156" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1474027652" ["type"]=> string(7) "default" ["uuid"]=> string(36) "d9604bfd-8d19-4ebb-bf1b-9012ee60e425" ["rdf_mapping"]=> array(0) { } ["alt"]=> NULL ["title"]=> NULL ["width"]=> string(3) "185" ["height"]=> string(3) "262" } } } ["field_documents"]=> array(1) { ["und"]=> array(2) { [0]=> array(2) { ["value"]=> string(4) "8637" ["revision_id"]=> string(4) "8637" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_lien"]=> array(0) { } ["field_complement_d_information"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(218) "For more information, please contact Joanne Finlay, EDHEC Research and Development Department [ joanne.finlay@edhec.edu ] The contents of this paper do not necessarily reflect the opinions of EDHEC Business School." ["format"]=> NULL } } } ["field_publication_auteur"]=> array(1) { ["und"]=> array(4) { [0]=> array(2) { ["value"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" } [1]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } [2]=> array(2) { ["value"]=> string(4) "8639" ["revision_id"]=> string(4) "8639" } [3]=> array(2) { ["value"]=> NULL ["revision_id"]=> NULL } } } ["field_revue"]=> array(0) { } ["field_cible"]=> array(0) { } ["field_classement_cnrs"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) ["entity_view_prepared"]=> bool(true) } ["hostEntityId":protected]=> int(10375) ["hostEntityRevisionId":protected]=> bool(false) ["hostEntityType":protected]=> string(4) "node" ["langcode":protected]=> string(3) "und" ["item_id"]=> string(4) "8638" ["revision_id"]=> string(4) "8638" ["field_name"]=> string(24) "field_publication_auteur" ["default_revision"]=> string(1) "1" ["archived"]=> string(1) "0" ["entityType":protected]=> string(21) "field_collection_item" ["entityInfo":protected]=> array(25) { ["label"]=> string(21) "Field collection item" ["label callback"]=> string(18) "entity_class_label" ["uri callback"]=> string(16) "entity_class_uri" ["entity class"]=> string(25) "FieldCollectionItemEntity" ["controller class"]=> string(19) "EntityAPIController" ["base table"]=> string(21) "field_collection_item" ["revision table"]=> string(30) "field_collection_item_revision" ["fieldable"]=> bool(true) ["redirect"]=> bool(false) ["entity keys"]=> array(4) { ["id"]=> string(7) "item_id" ["revision"]=> string(11) "revision_id" ["bundle"]=> string(10) "field_name" ["uuid"]=> string(4) "uuid" } ["module"]=> string(16) "field_collection" ["view modes"]=> array(4) { ["full"]=> array(2) { ["label"]=> string(15) "Contenu complet" ["custom settings"]=> bool(false) } ["diff_standard"]=> array(2) { ["label"]=> string(19) "Revision comparison" ["custom settings"]=> bool(false) } ["print"]=> array(2) { ["label"]=> string(8) "Imprimer" ["custom settings"]=> bool(false) } ["token"]=> array(2) { ["label"]=> string(6) "Tokens" ["custom settings"]=> bool(false) } } ["access callback"]=> string(28) "field_collection_item_access" ["deletion callback"]=> string(28) "field_collection_item_delete" ["metadata controller class"]=> string(37) "FieldCollectionItemMetadataController" ["bundles"]=> array(2) { ["field_documents"]=> array(3) { ["label"]=> string(32) "Field collection field_documents" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(49) "admin/structure/field-collections/field-documents" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } ["field_publication_auteur"]=> array(3) { ["label"]=> string(41) "Field collection field_publication_auteur" ["admin"]=> array(4) { ["path"]=> string(62) "admin/structure/field-collections/%field_collection_field_name" ["real path"]=> string(58) "admin/structure/field-collections/field-publication-auteur" ["bundle argument"]=> int(3) ["access arguments"]=> array(1) { [0]=> string(28) "administer field collections" } } ["rdf_mapping"]=> array(0) { } } } ["static cache"]=> bool(true) ["field cache"]=> bool(true) ["load hook"]=> string(26) "field_collection_item_load" ["translation"]=> array(0) { } ["base table field types"]=> array(5) { ["item_id"]=> string(6) "serial" ["revision_id"]=> string(3) "int" ["field_name"]=> string(7) "varchar" ["archived"]=> string(3) "int" ["uuid"]=> string(4) "char" } ["schema_fields_sql"]=> array(2) { ["base table"]=> array(5) { [0]=> string(7) "item_id" [1]=> string(11) "revision_id" [2]=> string(10) "field_name" [3]=> string(8) "archived" [4]=> string(4) "uuid" } ["revision table"]=> array(2) { [0]=> string(11) "revision_id" [1]=> string(7) "item_id" } } ["token type"]=> string(21) "field_collection_item" ["configuration"]=> bool(false) ["uuid"]=> bool(true) } ["idKey":protected]=> string(7) "item_id" ["nameKey":protected]=> string(7) "item_id" ["statusKey":protected]=> string(6) "status" ["defaultLabel":protected]=> bool(false) ["wrapper":protected]=> NULL ["uuid"]=> string(36) "7749fa55-4f3a-423a-8e32-30b207d243b1" ["field_nom"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(11) "Felix Goltz" ["format"]=> NULL ["safe_value"]=> string(11) "Felix Goltz" } } } ["field_professeur_edhec"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } } ["field_fonction"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." ["format"]=> NULL ["safe_value"]=> string(49) "Head of applied research at EDHEC-Risk Institute." } } } ["rdf_mapping"]=> array(0) { } ["entity_view_prepared"]=> bool(true) } ["#items"]=> array(1) { [0]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2) { [0]=> string(7) "dc:date" [1]=> string(10) "dc:created" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["changed"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(11) "dc:modified" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } ["body"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(15) "content:encoded" } } ["uid"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:has_creator" } ["type"]=> string(3) "rel" } ["name"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(9) "foaf:name" } } ["comment_count"]=> array(2) { ["predicates"]=> array(1) { [0]=> string(16) "sioc:num_replies" } ["datatype"]=> string(11) "xsd:integer" } ["last_activity"]=> array(3) { ["predicates"]=> array(1) { [0]=> string(23) "sioc:last_activity_date" } ["datatype"]=> string(12) "xsd:dateTime" ["callback"]=> string(12) "date_iso8601" } } ["path"]=> array(1) { ["pathauto"]=> string(1) "1" } ["name"]=> string(0) "" ["picture"]=> string(1) "0" ["data"]=> NULL ["print_html_display"]=> int(1) ["print_html_display_comment"]=> int(0) ["print_html_display_urllist"]=> int(1) } ["access"]=> bool(true) } } ["#formatter"]=> string(21) "entityreference_label" [0]=> array(5) { ["#theme"]=> string(21) "entityreference_label" ["#label"]=> string(16) "GOLTZ Felix, PhD" ["#item"]=> array(3) { ["target_id"]=> string(4) "5777" ["entity"]=> object(stdClass)#355 (44) { ["vid"]=> string(4) "5777" ["uid"]=> string(1) "0" ["title"]=> string(16) "GOLTZ Felix, PhD" ["log"]=> string(0) "" ["status"]=> string(1) "1" ["comment"]=> string(1) "1" ["promote"]=> string(1) "0" ["sticky"]=> string(1) "0" ["vuuid"]=> string(36) "25e8c0d6-9f39-40d7-8143-dfeb6af423f3" ["nid"]=> string(4) "5777" ["type"]=> string(8) "personne" ["language"]=> string(2) "en" ["created"]=> string(10) "1470041640" ["changed"]=> string(10) "1521106431" ["tnid"]=> string(4) "5777" ["translate"]=> string(1) "0" ["uuid"]=> string(36) "bd7cd2f7-1871-4277-aa1c-c3113638d737" ["revision_timestamp"]=> string(10) "1521106431" ["revision_uid"]=> string(3) "331" ["body"]=> array(1) { ["und"]=> array(1) { [0]=> array(5) { ["value"]=> string(434) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["summary"]=> string(0) "" ["format"]=> string(9) "full_html" ["safe_value"]=> string(433) "

Journal of Portfolio Management (2014 ; 2015 ; 2016), Journal of Index Investing (2013), Financial Analyst?s Journal (2011), Bankers, Markets & Investors (2012 ; 2011 ; 2010), Journal of Indexes (2011), Journal of Derivatives (2009), Journal of Alternative Investments (2009 ; 2010), European Financial Management (2009), Journal of Derivatives (2009), Journal of Fixed Income (2006), European Financial Management (2007)

" ["safe_summary"]=> string(0) "" } } } ["field_poste_current"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" ["format"]=> NULL ["safe_value"]=> string(90) "Head of Applied Research, EDHEC-Risk Institute - Director of Research, ERI Scientific Beta" } } } ["field_coordonn_es"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" ["format"]=> NULL ["safe_value"]=> string(148) "EDHEC Business School 393/400 Promenade des Anglais - BP3116 06202 Nice cedex 3 - France Tel.: + 33 (0)4 93 18 99 66 Fax : + 33 (0)4 93 83 08 10" } } } ["field_mail"]=> array(1) { ["und"]=> array(1) { [0]=> array(3) { ["value"]=> string(35) "Ten Misconceptions about Smart Beta" ["format"]=> NULL ["safe_value"]=> string(35) "Ten Misconceptions about Smart Beta" } } } ["field_documents"]=> array(1) { ["und"]=> array(1) { [0]=> array(2) { ["value"]=> string(4) "1812" ["revision_id"]=> string(4) "1812" } } } ["field_cible"]=> array(0) { } ["field_siteweb"]=> array(0) { } ["field_facebook"]=> array(0) { } ["field_twitter"]=> array(0) { } ["field_linkendin"]=> array(0) { } ["field_team_image"]=> array(1) { ["und"]=> array(1) { [0]=> array(16) { ["fid"]=> string(4) "4118" ["uid"]=> string(1) "0" ["filename"]=> string(7) "prof_53" ["uri"]=> string(43) "public://professeurs/img_profil/prof_53.jpg" ["filemime"]=> string(10) "image/jpeg" ["filesize"]=> string(5) "16133" ["status"]=> string(1) "1" ["timestamp"]=> string(10) "1470041640" ["type"]=> string(5) "image" ["uuid"]=> string(36) "5edda86e-ba8d-4c33-8ee9-8c1537ced236" ["rdf_mapping"]=> array(0) { } ["image_dimensions"]=> array(2) { ["width"]=> string(3) "185" ["height"]=> string(3) "278" } ["alt"]=> string(0) "" ["title"]=> string(0) "" ["width"]=> string(3) "185" ["height"]=> string(3) "278" } } } ["field_specialite"]=> array(0) { } ["field_expertise"]=> array(0) { } ["field_short_bio"]=> array(0) { } ["field_expertises"]=> array(0) { } ["field_poste_detail"]=> array(0) { } ["field_personne_externe_l_edhec"]=> array(0) { } ["rdf_mapping"]=> array(9) { ["rdftype"]=> array(2) { [0]=> string(9) "sioc:Item" [1]=> string(13) "foaf:Document" } ["title"]=> array(1) { ["predicates"]=> array(1) { [0]=> string(8) "dc:title" } } ["created"]=> array(3) { ["predicates"]=> array(2)