Risk Transfer and Firm Value - Chapter 6 Retelling
Book: Structured Finance and Insurance: The ART of Managing Capital and Risk Author: Christopher L. Culp Publisher: Wiley Finance, 2006 ISBN: 978-0-471-70631-1
Book: Structured Finance and Insurance: The ART of Managing Capital and Risk Author: Christopher L. Culp Publisher: Wiley Finance, 2006 ISBN: 978-0-471-70631-1
Welcome to Part Four of Wilmott’s book: Credit Risk. Up until now, every product we priced assumed that all cashflows are guaranteed. Coupons get paid. Bonds get redeemed. Nobody goes bankrupt. That was a comfortable world to live in, but it is not reality.