Within the last decade, credit risk management of financial institutions has been subject to major changes due to the … influence the portfolio at a later stage. Alternative solutions for risk mitigation like selling the obligation (e.g. via an … credit derivatives, risk management has received a broad range of possibilities to transfer credit risk easily without …

We extend the continuous Cumulative Prospect Theory (CPT) by considering piecewise con-tinuous distributions with a … Theory (PT), CPT, and expected utility theory to a set of different real-life certificates with piecewise continuous and … discrete distributions in order to analyze whether there are any significant differences between the theories, and which theory …

during credit negotiations so that the banks had to make large risk provisions which reduced their profitability. This was …

debt because the parent company's creditors might interpret such shifts as a risk-increasing and, thus, disadvantageous …