The Risk-Adjusted Cost of Financial Distress
收藏NBER2005-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11685
下载链接
链接失效反馈官方服务：
资源简介：
In this paper we argue that risk-adjustment matters for the valuation of financial distress costs, since financial distress is more likely to happen in bad times. Systematic distress risk implies that the risk-adjusted probability of financial distress is larger than the historical probability.
提供机构：
美国国家经济研究局
创建时间：
2005-10-01
