@article{ref1,
title="Impact of airplane crashes on firm's credit risk under the CreditGrades Model",
journal="Undergraduate economic review",
year="2018",
author="Bougias, Alexandros",
volume="15",
number="1",
pages="e6-e6",
abstract="The paper examines the impact of airplane accidents with 40 or more fatalities, on airline's firm credit risk. The sample contains 20 airplane crashes for the period 2000-2017. The analysis proposes the CreditGrades model introduced by Finger et al. (2002) , which is an extension of the first passage time model of Black and Cox (1976). The study concludes that airplane accidents lead to a statistically significant increase in airline's Probability of Default. The results are both significant and robust under the t-Test and the non-parametric Wilcoxon Signed-rank test.   Available at: https://digitalcommons.iwu.edu/uer/vol15/iss1/6<p /> <p>Language: en</p>",
language="en",
issn="",
doi="",
url="http://dx.doi.org/"
}