Is it inefficient investment that causes the diversification discount?
Article Abstract:
The diversification discount, in which the stock prices of diversified conglomerates are less than those of pure play firms, is held by recent research to be the result of capital spending inequities across divisions. New research indicates there may be measurement errors in the corpus of research.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2001
Stocks, Stock prices
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2001
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Counterparty risk and the pricing of defaultable securities
Article Abstract:
Reduced-form models incorporating a paradigm for calculating the corporate bond default risk of financial counterparties is presented. Counterparty risks are those risks specific to an individual issuer.
Publisher: Blackwell Publishers Ltd.
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2001
Bonds, Bonds (Securities), Credit market, Credit markets, Default (Finance)
Publication Name: Journal of Finance
Subject: Business
ISSN: 0022-1082
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
Subjects list: Statistical Data Included, Research, United States, Analysis, Prices and rates, Stock exchanges, Economics, Economic research, Securities industry, Finance
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