Gibilaro, Lucia; Mattarocci, Gianluca - In: Global Journal of Business Research 1 (2007) 2, pp. 15-33
Loss Given Default (henceforth the LGD) is the ratio of losses to exposure at default. It includes the loss of principal, the carrying costs of non-performing loans and workout expenses. In light of the management and regulatory advances regarding LGD, this paper addresses the topic of choosing...