Write a review of the article "The Link between Default and Recovery Rates: Theory, Empirical Evidence and Implications" Citation: Altman, E. I., Brady, B., Resti, A., & Sironi, A. (2005).
The Link between Default and Recovery Rates: Theory, Empirical Evidence, and Implications*.The Journal of Business, 78(6), 2203-2228. Please explain the key points that the author was trying to communicate. The review should be at least two pages.
Attachment:- Article.pdf