In much of the standard corporate finance literature in which sovereign debt is treated as a risk free asset, corporate bond prices are seen to depend on idiosyncratic risk factors specific to the issuing company, with public debt playing an indirect role to the extent that it affects the term structure of interest rates. In the corporate world, however, the ability of a borrower to access international capital markets and the terms according to which...
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INFORMATION
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2010/07/01
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Document de travail de recherche sur les politiques
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WPS5380
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1
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1
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2010/07/26
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Disclosed
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Sovereign debt distress and corporate spillover impacts
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corporate bond