英文字典中文字典


英文字典中文字典51ZiDian.com



中文字典辞典   英文字典 a   b   c   d   e   f   g   h   i   j   k   l   m   n   o   p   q   r   s   t   u   v   w   x   y   z       







请输入英文单字，中文词皆可：


请选择你想看的字典辞典：
单词字典翻译
Usurarious查看　Usurarious　在百度字典中的解释百度英翻中〔查看〕
Usurarious查看　Usurarious　在Google字典中的解释Google英翻中〔查看〕
Usurarious查看　Usurarious　在Yahoo字典中的解释Yahoo英翻中〔查看〕

安装中文字典英文字典查询工具!


中文字典英文字典工具:
选择颜色:
输入中英文单字

































































英文字典中文字典相关资料:


  • Systematic Credit Investing - AQR Capital
    The credit spread is directly related to the default risk,3 and can be decomposed into two primary components: (i) an expected probability of default (PD) and (ii) an expected loss given default (LGD) 4 Equation (1) shows the approximate relationship between credit spreads and these two components
  • Decomposing credit spreads
    This paper addresses the factors behind credit spread movements We know that compensation for expected default is only one component of credit spreads Another component can also be related to credit risk, that is, compensation for the uncertainty about the probability of default The final component is due to non-credit risk factors, which are driven by differences between government and
  • What Drives the Cross-Section of Credit Spreads?: A Variance . . .
    What drives the cross-sectional variation in credit spreads? Credit spreads are higher when r of a corporate bond faces a higher risk of de corporate bond s cash ows are discounted rises Since the expected default and expected are unobservable, past research often relies on on (1974) model, to decompose credit spreads However, there is
  • Systematic risk, debt maturity, and the term structure of credit spreads
    These findings are robust to different measures of systematic risk and proxies for debt maturity Furthermore, having a larger fraction of long-term debt coming due in the 2008–2009 financial crisis makes the increase in a firm’s credit spreads significantly stronger in response to the crisis shock
  • The credit spread puzzle - Bank for International Settlements
    The credit spread puzzle1 Spreads on corporate bonds tend to be many times wider than what would be implied by expected default losses alone These spreads are the difference between yields on corporate debt subject to default risk and government bonds free of such risk 2 While credit spreads are often generally understood as the compensation for credit risk, it has been difficult to explain
  • Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads
    ABSTRACT We build a dynamic capital structure model to study the link between firms' systematic risk exposures and their time-varying debt maturity choices, as well as its implications for the term structure of credit spreads Compared to short-term debt, long-term debt helps reduce rollover risks, but its illiquidity raises the costs of financing With both default risk and liquidity costs
  • Decomposing CDS Spreads and Their Variation - UNSW Sydney
    I decompose CDS spreads into an expected loss component, a credit risk premium component and a residual component Based on data for all actively traded U S public- rm CDS contracts from 2001 to 2010, expected losses account, at the median, for less than 25% of the level of credit spreads Less than 30% of the variation in credit spreads|both over time and across rms| corresponds to variation
  • rpscd. dvi - Eckner
    During the past couple of years much research effort has been devoted to ex-plaining the spread of corporate bonds over Treasuries On the other hand, rela-tively little is known about the spread components of structured credit products This paper shows that such securities compensate investors for expected losses due to defaults, pure jump-to-default risk, correlation risk, as well as the
  • Credit Spread Decomposition: Decomposing Bond-Level Credit OAS into . . .
    We decompose a credit bond’s option- adjusted spread (OAS) over Treasuries into three components: a market-wide risk pre-mium, expected loss from default, and expected liquidity cost We show that bond-level liquidity cost can help explain the OAS dispersion across bonds, even after accounting for differences in expected default losses This holds for both investment-grade and high-yield
  • High yield bonds: reading the spread - DWS Group
    In actuality, the credit spread has historically compensated investors by more than what credit risk alone would suggest In fact, credit spreads have been known to systematically exceed default losses (i e the historical amount of losses associated with bond defaults after recovery amounts have been considered) over long periods of time
  • Systematic Risk, Debt Maturity, and the Term Structure
    We build a structural model to explain corporate debt maturity dynamics over the business cycle and their implications for the term structure of credit spreads Longer-term debt helps lower rms' default risks while shorter-term debt reduces investors' exposures to liquidity shocks The joint variations in default risks and liquidity frictions over the business cycle cause debt maturity to
  • Credit Spread Decomposition - Encyclopedia of Financial Models I [Book]
    Abstract: Credit spread decomposition refers to breaking down a bond’s option-adjusted spread to Treasuries into market-wide risk premium, expected default loss, and expected liquidity cost components





中文字典-英文字典  2005-2009