CO 2 emission allowances are traded nowadays over the counter (OTC) and on exchanges
across the European Union (EU). It thus becomes increasingly important for traders of these …

In the literature, there is no consensus on a common approach to measure bond liquidity.
This paper is the first to comprehensively compare all commonly employed liquidity measures …

CO2 emission allowances are traded with increasing liquidity within the EU emissions trading
scheme (ETS). Besides spot contracts, futures and options are also available OTC and on …

Objective of this paper is to enhance the understanding of modelling jumps and to analyse
the model risk based on the jump component in electricity markets. We provide a common …

This paper documents strong evidence for an impact of cost behavior on credit risk. We find
that cost stickiness is positively and significantly related to firm credit risk after controlling for …

… Marliese Uhrig entwickelt in einer umfassenden empirischen Untersuchung ein theoretisch
fundiertes und praktikables Modell zur Bewertung von Zinsderivaten. Verzeichnis: Ein …

This paper develops a simple model for a leveraged firm and endogenizes the firm’s
bankruptcy point by assuming that equity issuance is costly. Equity-issuance costs reflect the …

In this paper, we propose a theoretical continuous-time model to analyze the impact of liquidity
on bond prices. This model prices illiquid bonds relative to liquid bonds and provides a …

Die Blockchain-Technologie wurde 2009 als technologische Basis der Kryptowährung Bitcoin
erstmals implementiert. Ihr wird das Potential nachgesagt, eine disruptive Technologie zu …

This paper examines the effect of debt and liquidity on corporate investment in a continuous-time
framework. We show that stockholder–bondholder agency conflicts cause investment …