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This paper analyzes the empirical relationship between credit default swap, bond and stock markets during the period …
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Firm cyclicality decreases by around 40% after the inception of credit default swap (CDS) trading. The effect is due to …
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Internal credit ratings are expected to gain in importance because of their potential use for determining regulatory capital adequacy and banks increasing focus on the risk-return profile in commercial lending. Whereas the eligibility of financial factors as inputs for internal credit ratings is...
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