@article {Ericsson38, author = {Jan Ericsson and Joel Reneby}, title = {An Empirical Study of Structural Credit Risk Models Using Stock and Bond Prices}, volume = {13}, number = {4}, pages = {38--49}, year = {2004}, doi = {10.3905/jfi.2004.391026}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Reduced-form credit risk models are often thought to be better suited than structural models for pricing corporate bonds. The authors challenge this view. Conditioned not only on equity but on bond and dividend information also, a structural model performs well compared to previously tested reduced-form models. In the pricing of bond portfolios, model errors are to a large extent diversifiable.}, issn = {1059-8596}, URL = {https://jfi.pm-research.com/content/13/4/38}, eprint = {https://jfi.pm-research.com/content/13/4/38.full.pdf}, journal = {The Journal of Fixed Income} }