| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060003 | Economics Letters | 2013 | 5 Pages |
Abstract
⺠The paper is the first quantitative research on the equity-for-guarantee swap. ⺠We present closed-form corporate security prices and guarantee cost. ⺠We find that the swap can significantly increase the value of a firm. ⺠If a firm earns more/less in recession/boom markets, guarantee costs decrease.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Zhaojun Yang, Hai Zhang,