《Does Default Risk in Coupons Affect the Valuation of Corporate Bonds A Contingent Claims Model》.pdf

Does Default Risk in Coupons Affect the Valuation of Corporate Bonds?: A Contingent Claims Model Author(s): In Joon Kim, Krishna Ramaswamy and Suresh Sundaresan Source: Financial Management, Vol. 22, No. 3 (Autumn, 1993), pp. 117-131 Published by: Wiley on behalf of the Financial Management Association International Stable URL: /stable/3665932 . Accessed: 31/03/2013 22:36 Your use of the JSTOR archive indicates your acceptance of the Terms Conditions of Use, available at . /page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@. . Wiley and Financial Management Association International are collaborating with JSTOR to digitize, preserve and extend access to Financial Management. This content downloaded from 23 on Sun, 31 Mar 2013 22:36:56 PM All use subject to JSTOR Terms and Conditions Does Default Risk in Coupons Affect the Valuation of Corporate Bonds?: A Claims Model Contingent InJoon Krishna and SureshSundaresan Kim, Ramaswamy, In Joon Kimis a Memberat the KoreaAdvancedInstitute Science and Seoul,Korea. Faculty of Technology, Krishna is a Professorof Finance at TheWhartonSchool of the Universityof Pennsylvania, Ramaswamy is a