Phân tích tư tưởng của nhân dân qua đoạn thơ: Những người vợ nhớ chồng… Những cuộc đời đã hóa sông núi ta trong Đất nước của Nguyễn Khoa Điềm
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Recently, much academic and regulatory interest has been concentrated on the problem of high-yield, junk bond
default. Arguably, corporate bonds have defaulted for many reasons, including factors specific to the individual
issuing firm, variables corresponding to the industry in which it operates, and macroeconomic forces affecting the
business cycle. Individual factors include the firm's leverage, industry type, agency problem, riskiness of the
investment decisions, managerial integrity, efficiency and investment savvy together with institutional operating
costs. Industry and aggregate factors affect the firm's performance and therefore affect default as well. This paper
tests the significance of the firm's characteristics on the likelihood of default and assesses their...
Nội dung trích xuất từ tài liệu:
THE IMPACT OF FIRM'S CHARACTERISTICS ON JUNK-BOND DEFAULT
