Results 141 to 150 of about 15,112 (311)
Are Corporate Default Probabilities Consistent with the Static Tradeoff Theory? [PDF]
Default probability plays a central role in the static tradeoff theory of capital structure. We directly test this theory by regressing the probability of default on proxies for costs and benefits of debt.
Armen Hovakimian +2 more
core
Green swans and blue skies: Climate change and insolvency risk for financial institutions
International Insolvency Review, EarlyView.Abstract This lecture in honour of the late Gabriel Moss QC and Ian Fletcher QC examines the challenge of climate‐related financial risk. Prudential regulators and central banks recognize that the systemic nature of climate‐related financial risk makes it an emerging vulnerability relevant to cross‐border insolvency resolution.
Janis Sarra
wiley +1 more source
The pricing of corporate debt and related issues [PDF]
The purpose of this thesis is to study the pricing and credit risk of corporate debt using structural and reduced-form approaches. We discuss the theoretical aspects of three important topics in pricing risky debt: (i) the impact of stochastic ...
Wong, Chi Wing Mark
core
Alternative Price Dynamics and Valuation of Flexible Strategies
International Journal of Finance &Economics, EarlyView.ABSTRACT In this article, we study the optimal operational strategy of production projects. We investigate different underlying price models and determine the optimal barriers of transition to suspension, recovery, or irreversible abandonment of productive activity.
Cristina Bertolosi +2 more
wiley +1 more source
The Impact of Geopolitical Risk on Trade Credit
International Journal of Finance &Economics, EarlyView.ABSTRACT In light of escalating global geopolitical tensions, understanding how firms respond to external shocks has become a critical issue for policymakers, corporate managers, and investors. This study investigates the impact of geopolitical risk (GPR) on firms' reliance on trade credit (TC)—an essential form of short‐term financing, particularly ...
Wafa'a B. Al‐Yafei, Hamdi Bennasr
wiley +1 more source
ESG Performance and Credit Risk: Evidence From Chinese Manufacturing Companies
International Journal of Finance &Economics, EarlyView.ABSTRACT This study investigates the effect of corporate environmental, social, and governance (ESG) performance on credit risk using a sample of manufacturing firms listed on China's Shanghai and Shenzhen A‐share markets from 2009 to 2021. Employing fixed effects, the generalised method of moments, and instrumental variable models, we find that ...
Yanan Wang +4 more
wiley +1 more source
Managing subnational credit and default risks [PDF]
As a result of worldwide decentralization, subnational debt is rising. Subnational debt crises in major developing countries in the 1990s have led to strengthened regulatory frameworks for subnational borrowing and insolvency.
Waibel, Michael, Liu, Lili
core
Brexit and Its Impact on EU Financial Markets
International Journal of Finance &Economics, EarlyView.ABSTRACT We investigate the impact of Brexit on volatility spillovers across the EU countries. We introduce a Brexit intensity measure that assigns an intensity score reflective of the financial markets' reaction to the events that occurred as Brexit negotiations began to unfold.
Marwan Izzeldin +3 more
wiley +1 more source
"Sustainability, Debt Management, and Public Debt Policy in Japan" [PDF]
The purpose of this paper is to analyze sustainability issues of Japan's fiscal policy and then to discuss the debt management policy using theoretical models and numerical studies.
Toshihiro Ihori +2 more
core +2 more sources
International Journal of Finance &Economics, EarlyView.ABSTRACT This study draws on framing theory to investigate how microfinance institutions (MFIs) strategically construct a vulnerability‐oriented organisational identity and how this framing influences their funding decisions during the pre‐campaign phase of prosocial crowdfunding.
Ana Paula Matias Gama +3 more
wiley +1 more source