Academic Scholarship

Testing for the Elasticity of Corporate Yield Spreads

Journal of Financial and  Quantitative Analysis, 44(3), 641 -656, April 2009

Photo Needed Gady Jacoby, Ph.D.
Department of Finance
Chuan Liao and Jonathan Batten

Our results provide support for reduced-form models that explicitly define a default hazard process and untie the relation between the firm’s asset value and default probability.

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