It takes the average reader and 32 minutes to read Assessing Default Risks for Chinese Firms by Daniel Law
Assuming a reading speed of 250 words per minute. Learn more
Assessing default risks for Chinese firms is hard. Standard measures of risk using market indicators may be unreliable because of implicit guarantees, the large role played by less-informed investors, and other market imperfections. We test this assertion by estimating stand-alone 1-year default probabilities for non-financial firms in China using an equity-based structural model and debt costs. We find evidence that the equity measure of default risk is sensitive to a firm’s balance sheet health, profitability, and ownership; specifically, default probabilities are higher for weaker, less profitable, and state-owned firms. In contrast, measures based on the cost of debt seem largely detached from fundamentals and instead determined by implicit guarantees. We conclude that for individual firms, equity-based measures, while far from perfect, provide a better measure of stand-alone default risks than borrowing costs.
Assessing Default Risks for Chinese Firms by Daniel Law is 32 pages long, and a total of 8,064 words.
This makes it 11% the length of the average book. It also has 10% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 44 minutes to read Assessing Default Risks for Chinese Firms aloud.
Assessing Default Risks for Chinese Firms is suitable for students ages 8 and up.
Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.
When deciding what to show young students always use your best judgement and consult a professional.
Assessing Default Risks for Chinese Firms by Daniel Law is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.
To buy Assessing Default Risks for Chinese Firms by Daniel Law on Amazon click the button below.
Buy Assessing Default Risks for Chinese Firms on Amazon