Dionne, Georges; Laajimi, Sadok; Mejri, Sofiane; … - Centre Interuniversitaire sur le Risque, les Politiques … - 2006
the predicted structural probabilities of default (PDs from the structural model) contribute significantly to explaining … default probabilities when PDs are included alongside the retained accounting variables. We also show that quarterly updates … to the PDs add a large amount of dynamic information to explain the probabilities of default over the course of a year …