Deborgies-Sanches, Laurence D. M. - 2014
the determinants of the workout-loss-given-default (W-LGD): losses based on the cash flows observed between the default … model to study the likelihood of incurring or not a loss. We find that pre-default variables (borrowers' and facilities … loans with non-zero LGDs, we discover the prevalent effects of post-default factors (factors that occur after the default …