The effect of corporate diversification on credit risk: new evidence from European credit default swap spreads

This article investigates the impact of corporate diversification on credit risk. To our best knowledge, this is the first paper to use credit default swap (CDS) spreads instead of bond yield or revalued book values to test the risk‐reduction hypothesis. The analysis relies upon a sample of STOXX® E...

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Veröffentlicht in:	Accounting and finance (Parkville) 2019-12, Vol.59 (4), p.2679-2704
Hauptverfasser:	Rojahn, Joachim, Zechser, Florian
Format:	Artikel
Sprache:	eng
Schlagworte:	Collateralized loan obligations Corporate diversification Credit default swap spreads Credit default swaps Credit risk Diversification Information asymmetries International finance Risk‐reduction hypothesis Securitization STOXX® EUROPE 600
Online-Zugang:	Volltext
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