Berger, Allen N.; Espinosa-Vega, Marco A.; Frame, W. Scott - 2004
size and earnings volatility), and one based on
whether the firm’s debt is investment grade. Johnson’s accounting … indicators have the nonmonotonic
relationship with the debt maturity structure, but the indicator for investment grade debt is … (2004) use linear functions and Guedes and Opler (1996) use
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only two categories of risk ratings (investment grade …