Showing 1 - 10 of 14,820
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/10010427776
Persistent link: https://www.econbiz.de/10000291883
Persistent link: https://www.econbiz.de/10000682473
Persistent link: https://www.econbiz.de/10000539295
Persistent link: https://www.econbiz.de/10000072378
Persistent link: https://www.econbiz.de/10000072817
Persistent link: https://www.econbiz.de/10008648981