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Contribution Details
Type | Master's Thesis |
Scope | Discipline-based scholarship |
Title | Balance Sheet Based Bankruptcy Triggering Asset Value and the Equity Market - Empirical Analysis |
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Institution | University of Zurich |
Faculty | Faculty of Economics, Business Administration and Information Technology |
Number of Pages | 80 |
Date | 2014 |
Abstract Text | This master thesis examines the perception of the Balance Sheet Based Bankruptcy Triggering Asset Value by the equity market empirically. As such, it closes the gap between the extensive theoretical research and the capital markets. Panel models, using various risk and capital cost measurements, are deployed to investigate a sample covering the years 1993 to 2012 for 50 US large cap companies. Overall, evidence was found for an influence of the Trigger Value on the credit risk premium of fixed income instruments. The perception by the stock market is somewhat ambiguously. |
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