Essays about: "Distress Puzzle"

Found 2 essays containing the words Distress Puzzle.

1. 1. Reverse Robin Hood. A Swedish Assessment of the Distress Puzzle

   University essay from Göteborgs universitet/Graduate School

   Author : Caroline Robertsson; Emil Jangvik; [2017-07-25]
   Keywords : Financial distress; Z-score; O-score; Portfolio analysis; Distress Puzzle; Asset pricing; Corporate Finance; Distress Risk; Logit analysis;

   Abstract : This research adopts some of the most well-known models to predict financial distress to be able to investigate whether firms with higher probability to default and thereby incorporating more risk do provide investors with a higher return in the Swedish market. We create portfolios sorted on the predicted probability of the financial distress and subsequently perform a portfolio analysis to investigate the risk return relationship. READ MORE

3. 2. The Distress Risk Puzzle in Turbulent Times - Default risk during the financial crises

   University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

   Author : Sanna Batz; Anders Nordström; [2011]
   Keywords : Distress risk puzzle; bankruptcy risk; systematic risk; asset pricing; Altman Z-score;

   Abstract : Studies on whether risk of default is systematic or not have led to the discovery of the distress risk puzzle. It is a rather new anomaly and its implications are that empirical evidence seems to indicate that higher default risk results in lower returns. READ MORE