Paper by Charles Davi
This paper is for the most part a refutation of the works of Hu and Black on the incentives created by credit default swaps in the bankruptcy context. We show that Hu and Black’s concerns over “empty voting” and “negative economic interest” in the bankruptcy context are entirely without merit.
In Defense of Credit Default Swaps by Charles Davi
Debt, Equity, and Hybrid Decoupling: Governance and Systemic Risk Implications by Henry Hu and Bernard Black