Boliari, Natalia; Topyan, Kudret - In: Journal of risk and financial management : JRFM 15 (2022) 12, pp. 1-18
This work investigates and compares the total risk attributable to holding and operating companies, using data from the United States. By proxying overall risk by the option-adjusted spread on corporate bonds, we hypothesize that operating companies face a higher risk. Our data were obtained...