Fenech, Jean-pierre; Vosgha, Hamed; Shafik, Salwa - In: Applied Economics 46 (2014) 4, pp. 420-431
In contrast to market expectations, the correlation between credit default swap (CDS) spreads and their respective stock prices in Australia was found to be positive. The global financial crisis (GFC) affected the nonlinear association between the two asset classes with firms experiencing...