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Credit risk spreads in local and foreign currencies /
The paper shows how-in a Merton-type model with bankruptcy-the currency composition of debt changes the risk profile of a company raising a given amount of financing, and thus affects the cost of debt. Foreign currency borrowing is cheaper when the exchange rate is positively correlated with the ret...
| Cote: | Libro Electrónico |
|---|---|
| Auteurs principaux: | , |
| Collectivité auteur: | |
| Format: | Électronique eBook |
| Langue: | Inglés |
| Publié: |
[Washington, D.C.] :
International Monetary Fund,
©2009.
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| Collection: | IMF working paper ;
WP/09/110. |
| Sujets: | |
| Accès en ligne: | Texto completo |