Distance-to-Default in Banking : A Bridge Too Far?

A Bridge Too Far?

Distance-to-Default in Banking : A Bridge Too Far?
In contrast to corporate defaults, regulators typically take a number of statutory actions to avoid the large fiscal costs associated with bank defaults. The distance-to-default, a widely used market-based measure of corporate default risk, ignores such regulatory actions. To overcome this limitation, this paper introduces the concept of... READ MORE...

Publication date: September 2006
ISBN 9781451864755
$18.00

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