Journal of Banking & Finance paper
Journal of Banking & Finance, Volume 26, Issue 2-3, 01-March-2002 Hong Kong University of Science and Technology, Clear Water Bay, , Kowloon, Hong Kong, PR China, University of Michigan Business School, Room D3265, 701 Tappan Street, , Ann Arbor, MI 48109, USA.
Abstract
This paper shows how the credit risk premium affects firms' optimal hedging strategies. The model predicts that if the credit risk premium is relatively small
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