Firm Values and Systemic Stability in Financial Networks
Based on the work of Eisenberg and Noe [2001], Suzuki [2002], Elsinger [2009] and Fischer [2014], we consider a generalization of Merton's asset valuation approach where n firms are linked by cross-ownership of equities and liabilities. Each firm is assumed to have a single outstanding liabilit...
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| Format: | Doctoral Thesis |
| Language: | English |
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2015
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| Online Access: | https://opus.bibliothek.uni-wuerzburg.de/frontdoor/index/index/docId/11573 http://nbn-resolving.de/urn:nbn:de:bvb:20-opus-115739 https://nbn-resolving.org/urn:nbn:de:bvb:20-opus-115739 https://opus.bibliothek.uni-wuerzburg.de/files/11573/Karl_Sabine_firm_valuation.pdf |