Does Cost Stickiness Affect Credit Risk?
In this chapter I conduct an empirical study, which investigates empirically the impact of asymmetric cost behavior on credit risk. In Section 4.2, I discuss the related literature and develop the research question. In Section 4.3, I describe the sample selection procedure, model specification, and variables measurement. I discuss the empirical results in Section 4.4, consider endogeneity in Section 4.5, document robustness in Section 4.6, and conclude in Section 4.7. Figure 4.1 illustrates the structure of this Chapter.
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