The Effect of Taxes on the Pricing of Defaultable Debt

The Effect of Taxes on the Pricing of Defaultable Debt

Empirical studies have documented the dependence of corporate credit spreads on default risk, equity premiums, and taxes. However, taxes have previously not been incorporated into reduced-form credit risk models. Therefore, we first extend the existing literature by considering a default intensity t...

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Bibliographic Details
Main Authors: LIM, Kian Guan, SONG, Fenghua, WARACHKA, Mitchell Craig
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2003
Subjects:
Corporate Finance
Finance and Financial Management
Portfolio and Security Analysis
Online Access:https://ink.library.smu.edu.sg/lkcsb_research/4575
https://ink.library.smu.edu.sg/context/lkcsb_research/article/5574/viewcontent/The_Effect_of_Taxes_on_the_Pricing_of_Defaultable_Debt.pdf
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Institution: Singapore Management University
Language: English

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https://ink.library.smu.edu.sg/lkcsb_research/4575
https://ink.library.smu.edu.sg/context/lkcsb_research/article/5574/viewcontent/The_Effect_of_Taxes_on_the_Pricing_of_Defaultable_Debt.pdf

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