The current financial market crisis has impressively demonstrated the importance of an effective credit risk management for financial institutions. At the same time, the use and the valuation of credit derivatives has been widely criticised as a result of the crisis. Over the past decade, credit...

Loss Given Default (LGD) is a major element for pricing credits and bonds. As there has been a substantial amount of research during the last years, this paper aims to give an overview. Initially, defaults and recovery definitions for credits and the differences to bonds are discussed. A survey...

In this paper we present a tree model for defaultable bond prices which can be used for the pricing of credit derivatives. The model is based upon the two-factor Hull-White (1994) model for default-free interest rates, where one of the factors is taken to be the credit spread of the defaultable...

The practice of responsible and sustainable investing has led to the incorporation of environmental, social and governance (ESG) information into investment decisions. The role of ESG rating agencies has been to facilitate decision-making by aggregating unstructured ESG information into a single...

This study aims to identify possible alternative mechanisms of extending credit to agrarian reform beneficiaries (ARB) and to assess the effectiveness, viability and sustainability of the alternative mechanisms for delivering credit assistance to ARBs. It employs two research methods, namely...

This paper documents the interactions among borrowers that consist a group assuming joint liability. It describes the participants of group credit, their reasons for joining the group and the conditions why members are willing to assume other people's debt.