Crouhy, Michel (ed.); Galai, Dan (ed.); Wiener, Zvi (ed.) - 2019
"Black and Scholes (1973) and Merton (1973, 1974) (hereafter referred to as BSM) introduced the contingent claim approach (CCA) to the valuation of corporate debt and equity. The BSM modeling framework is also named the "structural" approach to risky debt valuation. The CCA considers all...
