The thesis of Kristina Reimer provides a comprehensive analysis of asymmetric cost behavior (also known as cost stickiness) by discussing its origin and development in the theoretical and empirical research from the 1920s of the past century up until today. Further, using an empirical approach,...

The finance literature looks at a number of factors to explain risk premia in corporate debt, such as liquidity effects, jump-to-default risk, and contagion risk. Stochastic recovery rates as a source of systematic risk have not received much attention so far, most likely due to the difficulties...

Gewerbliche Unternehmen werden durch verschiedene Risiken gefährdet. Das Forderungsausfallrisiko ist isoliert betrachtet häufig zwar nicht das wichtigste Einzelrisiko, allerdings treten Forderungsausfälle oftmals nicht unabhängig von anderen Risiken auf. Aufgrund solcher Abhängigkeiten ist...