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Literature Reviews Dissertations

C/F/66. Literature review on Structural and reduced form models of pricing corporate debt.

WORDS:
1500
DATE:
2005
PRICE:
19.99 GBP

This literature review elaborates on theoretical and empirical models of evaluation of corporate debt. The author thoroughly analyses two common approaches to a company's debt valuation. Initial structural models, including original work of Merton, are shown to be based on unrealistic assumptions. However, recent works which incorporated stochastic process into the term structure of interest rates are found useful. Reduced form models, an alternative to structural models, are also widely used by researchers in pricing the corporate debt. The advantages and drawbacks of both models are also pin-pointed. This literature review clearly represents a good example of a literature review for quantitative research. The author mentions the problems being addressed, states the central purpose of the studies under review, and highlights key results. This work can be useful for those who want to write a clear, concise and interesting literature review for dissertation.

 

KEYWORDS: f, literature, review, structural, reduced, form, models, pricing, corporate, debt,

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I have received the paper and thank you for your great work. Rahim