Thakerngkiat, Narongdech; Nguyen, Harvey; Nguyen, Nhut H.; … - 2023
default, whether risk aversion matters for default risk remains largely under-investigated. A challenge for prior studies that … aim to examine the impact of fear on default risk is that investor risk aversion is not an exogenous variable or the … presence of omitted variables that drive both risk aversion and default risk. To address endogeneity concerns, we use the 9 …
