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What is Stochastic Distance-to-Default Analysis about?

This study investigates the stochastic distance-to-default (DD) for nonfinancial companies listed in major indexes, using data from 1952 to 2023. It finds that factors such as debt-to-equity ratio, bankruptcy costs, and macroeconomic influences significantly affect the stochastic DD, which is essential for managing bankruptcy risk. The paper emphasizes the need for companies to develop financial strategies to improve their DD in light of stochastic trends.

Author

Ahmed Dabour

Language

EN