How does credit risk affect cost management strategies? Evidence on the initiation of credit default swap and sticky cost behavior
In this paper, we examine the effect of credit defaults swaps (CDS) initiation on reference firms' cost management strategies. CDS contracts provide insurance protection for creditors, inducing a shift in bargaining power from borrowers to creditors and an excessive incidence of bankruptcy. Ant...
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| Main Authors: | , , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2023
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/sis_research/7954 https://ink.library.smu.edu.sg/context/sis_research/article/8957/viewcontent/CreditRiskAffect_av.pdf |
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| Institution: | Singapore Management University |
| Language: | English |