The Effect of the Default Risk of Debt on the Earnings Response Coefficient.
研究债务违约风险如何影响会计盈余与股票回报之间的关系，分析盈余反应系数（ERC）与违约风险的相关性，对理解企业估值和风险定价有参考价值。
Abstract Examines the effect of the default risk of debt on the relation between accounting earnings and stock returns. Correlation between equity valuation and the earnings response coefficient (ERC); Cumulative abnormal returns; Equity beta; Earnings persistence; Unexpected earnings.