Corporate Debt and Distress Risk in Emerging Markets
Public Deposited- Last Modified
- March 22, 2019
- Creator
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De Asis Ruiz, Gonzalo
- Affiliation: College of Arts and Sciences, Department of Economics
- Abstract
- This dissertation consists of two papers in the field of international finance, both under the general theme of corporate distress in emerging markets. In the first paper, I explore how the leverage and size of emerging market firms relates to their financial fragility. I also show that idiosyncratic shocks to large firms have macroeconomic effects. In the second paper, I estimate an emerging market-specific measure of distress risk and explore its asset pricing implications. I find that global financial conditions help explain changes in firms’ probability of default, and that distressed stocks earn a premium over their safer counterparts.
- Date of publication
- May 2018
- Keyword
- DOI
- Resource type
- Advisor
- Hansen, Peter
- Aguilar, Mike
- Lundblad, Christian
- Chari, Anusha
- Ghysels, Eric
- Degree
- Doctor of Philosophy
- Degree granting institution
- University of North Carolina at Chapel Hill Graduate School
- Graduation year
- 2018
- Language
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