Showing 1 - 10 of 10,799
Persistent link: https://www.econbiz.de/10000291883
Persistent link: https://www.econbiz.de/10000682473
Persistent link: https://www.econbiz.de/10000534191
Persistent link: https://www.econbiz.de/10008648981
Persistent link: https://www.econbiz.de/10003498793
Persistent link: https://www.econbiz.de/10003515676
Persistent link: https://www.econbiz.de/10003536084
In this paper, we address the question whether the impact of default risk on equity returns depends on the financial system firms operate in. Using an implementation of Merton's option-pricing model for the value of equity to estimate firms' default risk, we construct a factor that measures the...
Persistent link: https://www.econbiz.de/10003922696