Blar i BI Open på forfatter "Rogstad, Eirik Westvig"
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An extension of the Merton model : The effect of including the cost of operating leverage
Rogstad, Eirik Westvig; Berhane, Musse Tewelde (Master thesis, 2017)We ask whether the Merton’s structural model of credit risk is improved by including the cost of operating leverage. We test this by extending the Merton model and testing whether the estimated credit spread is closer ...