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Y. Tang, “Essays on Credit Risk,” (PhD diss., University of Texas at Austin, December 2005).

Y. Tang, “Essays on Credit Risk,” (PhD diss., University of Texas at Austin, December 2005).

This dissertation examines the determinants of credit spreads. The purpose and contribution of this dissertation is to provide a more comprehensive and coherent view of credit risk valuation. Specially, I examine the effects of previously overlooked factors (in addition to conventional factors such as market nancing costs, rm leverage, and risk)on credit risk using credit default swap (CDS) rates that better rates associated credit risk.I undertake this study through both theoretical exploration and empirical examination