Schwartz, Lisa A.; Stowe, Kristin; Tarrant, Wayne - In: Applied Financial Economics 23 (2013) 19, pp. 1531-1539
This research investigates the stock market reaction to the February 2011 announcement of a new financial product: credit event binary options (CEBOs). The CEBOs could be an alternative to credit default swaps for hedging or speculating on default. These credit options, traded on the Chicago...