Managing Credit Risk, Second Edition opens with a detailed discussion of today's global credit markets-touching on everything from the emergence of hedge funds as major players to the growing influence of rating agencies. After gaining a firm understanding of these issues, you'll be introduced...

In response to the global concern of the Evergrande debt crisis, we document several findings of the crisis’s contagion effect. First, although most real estate companies have strong financial fundamentals, the high default risk among large firms sends an alarming signal. Second, the spillover...