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Proceedings of The 3rd International Conference on Business, Management and Economics
Year: 2020
DOI:
The Default risk of North American infrastructure companies: A sectoral approach from 2006 to 2018
Vanderson Aparecido Delapedra da Silva , Herbert Kimura
ABSTRACT:
This paper investigated the probability of default of infrastructure companies from a sectoral perspective during the period from 2006 to 2018. For this it was used a logistic regression with binary dependent variable and explanatory variables of reduced risk models of default, besides dummy variables representing the sectors and a variable of the KMV-Merton model, Distance to Default, as predictor variables to evaluate a universe of 1,520North American companies from 6 different sectors of infrastructure. The results show that oil and gas companies have a lower sensitivity to the variable Distance to Default than companies from other sectors, when this variable is used to explain the default probability of these companies.
Keywords: : Sectoral Risk, Distance to Default, Infrastructure.[/vc_column_text][/vc_column][vc_column width=”1/3″ el_class=”smkrowshadow” css=”.vc_custom_1586683216261{padding-top: 25px !important;padding-bottom: 20px !important;}”][vc_single_image image=”712734″ img_size=”200×200″ alignment=”center” style=”vc_box_shadow_circle_2″ css=”.vc_custom_1586947546234{margin-bottom: 15px !important;}”][vc_column_text css=”.vc_custom_1586938062512{margin-top: 0px !important;padding-top: 0px !important;padding-bottom: 10px !important;}”]
Vanderson Aparecido Delapedra da Silva
University of Brasília –UnB, Brasília –DF, Brazil
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Herbert Kimura
University of Brasília –UnB, Brasília –DF, Brazil
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