20. Kay Giesecke and Lisa Goldberg, “The Market Price of Credit-Risk,” working paper, Cornell University, 2003.

21. Joost Driessen, “Is Default Event Risk Priced in Corporate Bonds,” working paper, University of Amsterdam, 2002.

22. Kay Giesecke and Lisa Goldberg, “In Search of a Modigliani-Miller Economy,” Journal of Investment Management 2 (2004), pp. 1–6.

23. Franco Modigliani and Merton H. Miller, “The Cost of Capital, Corporation Finance and the Theory of Investment,” American Economic Review 48 (1958), pp. 261–297.

24. Nicole El Karoui and Lionel Martellini, “A Theoretical Inspection of the Market Price for Default Risk,” working paper, Marshall School of Business, University of Southern California, 2001.

25. Robert A. Jarrow, David Lando, and Fan Yu, “Default Risk and Diversification: Theory and Applications,” working paper, Cornell University, 2003.