Figure 11
Estimates Without Credit Rating Effects
NLLS Estimates of the Bankruptcy Cost Parameter μ
Note. The shaded region represents +/- two standard error bands computed using a
heteroscedasticity-consistent asymptotic covariance matrix. The model includes fixed industry
(3-digit NAICS) effects.
1 See Figure 6.
Recovery Rates on Defaulted Bonds
Percent
1 Average model-implied recovery rate weighted by the book value of bonds outstanding.
2 Average recovery rate at default weighted by the book value of the defaulted bond issue
(four-quarter moving average).
3 See Figure 7.
31
More intriguing information
1. An Incentive System for Salmonella Control in the Pork Supply Chain2. AN IMPROVED 2D OPTICAL FLOW SENSOR FOR MOTION SEGMENTATION
3. Input-Output Analysis, Linear Programming and Modified Multipliers
4. Globalization, Redistribution, and the Composition of Public Education Expenditures
5. The name is absent
6. DISCRIMINATORY APPROACH TO AUDITORY STIMULI IN GUINEA FOWL (NUMIDA MELEAGRIS) AFTER HYPERSTRIATAL∕HIPPOCAMP- AL BRAIN DAMAGE
7. The name is absent
8. TECHNOLOGY AND REGIONAL DEVELOPMENT: THE CASE OF PATENTS AND FIRM LOCATION IN THE SPANISH MEDICAL INSTRUMENTS INDUSTRY.
9. The name is absent
10. 09-01 "Resources, Rules and International Political Economy: The Politics of Development in the WTO"