TY  - JOUR
PY  - 2018//
TI  - Impact of airplane crashes on firm's credit risk under the CreditGrades Model
JO  - Undergraduate economic review
A1  - Bougias, Alexandros
SP  - e6
EP  - e6
VL  - 15
IS  - 1
N2  - 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>
LA  - en
SN  - 
UR  - http://dx.doi.org/
ID  - ref1
ER  -