Shah, Syed Muhammad Noaman Ahmed; Kebewar, Mazen - HAL - 2013
According to theoretical models of valuing risky corporate securities, risk of default is primary component in overall … yield spread. However, sizable empirical literature considers it otherwise by giving more importance to non-default risk … the subjective empirical treatment of default risk. By using post-hoc estimator approach of Lubotsky & Wittenberg (2006 …