This article attempts to identify the default risk measure which best reflects the idiosyncratic context of public family firms. Seven accounting- and market-based measures are compared over a sample of 981 US family and non-family firms for the period 2000-2016. The results show that the...

The impact of a switch of management company on pension plan fees is analyzed by comparing the effects on employer-sponsored versus individual defined-contribution private pension plans in Spain. This framework is ideal because the two types differ significantly both in plan governance structure...

This paper considers whether the existing measures of credit risk order and quantify corporate credit risk in the same way. Eight measures of credit risk of different natures are compared: Altman's Z, Ohlson's O, Hannan and Hanweck model, Zmijewski model, bond spreads, CDS spreads,...

We propose a valuation framework for pricing European call warrants on the issuer's own stock that allows for debt in the issuer firm. In contrast to other works which also price warrants with dilution issued by levered firms, ours uses only observable variables. We extend the models of both...