| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w1143 |
| 来源ID | Working Paper 1143 |
| Contingent Claims Valuation of Corporate Liabilities: Theory and Empirical Tests | |
| E. Philip Jones; Scott P. Mason; Eric Rosenfeld | |
| 发表日期 | 1983-06-01 |
| 出版年 | 1983 |
| 语种 | 英语 |
| 摘要 | Although the Contingent Claims Analysis model has become the premier theory of how value is allocated among claimants on firms,its empirical validity remains an open question. In addition to being of academic interest, a test of the model would have significant practical implications. If it can be established that the model predicts actual market prices, then the model can be used to price new and untraded claims, to infer firm values from prices of traded claims like equity and to price covenants separately. In this paper evidence is presented on how well a model which makes the usual assumptions in the literature does in predicting market prices for claims in standard capital structures. The results suggest that the usual assumption list requires modification before it can serve as a basis for valuing corporate claims. |
| URL | https://www.nber.org/papers/w1143 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/558365 |
| 推荐引用方式 GB/T 7714 | E. Philip Jones,Scott P. Mason,Eric Rosenfeld. Contingent Claims Valuation of Corporate Liabilities: Theory and Empirical Tests. 1983. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w1143.pdf（276KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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