intTypePromotion=1

THE IMPACT OF FIRM'S CHARACTERISTICS ON JUNK-BOND DEFAULT

Chia sẻ: Adad Adada | Ngày: | Loại File: PDF | Số trang:9

0
38
lượt xem
2
download

THE IMPACT OF FIRM'S CHARACTERISTICS ON JUNK-BOND DEFAULT

Mô tả tài liệu
  Download Vui lòng tải xuống để xem tài liệu đầy đủ

Recently, much academic and regulatory interest has been concentrated on the problem of high-yield, junk bond default. Arguably, corporate bonds have defaulted for many reasons, including factors specific to the individual issuing firm, variables corresponding to the industry in which it operates, and macroeconomic forces affecting the business cycle. Individual factors include the firm's leverage, industry type, agency problem, riskiness of the investment decisions, managerial integrity, efficiency and investment savvy together with institutional operating costs. Industry and aggregate factors affect the firm's performance and therefore affect default as well. This paper tests the significance of the firm's characteristics on the likelihood of default and assesses their...

Chủ đề:
Lưu

Nội dung Text: THE IMPACT OF FIRM'S CHARACTERISTICS ON JUNK-BOND DEFAULT

ADSENSE
ADSENSE

CÓ THỂ BẠN MUỐN DOWNLOAD

 

Đồng bộ tài khoản
2=>2