Depending on the amount of data to process, file generation may take longer.

If it takes too long to generate, you can limit the data by, for example, reducing the range of years.


Download file Download BibTeX


Credit Default Swap as an instrument for risk management


[ 1 ] Instytut Logistyki, Wydział Zarządzania i Dowodzenia, Akademia Sztuki Wojennej | [ P ] employee

Scientific discipline (Law 2.0)

[6.6] Management and quality studies

Year of publication


Published in

TEST Engineering & Management

Journal year: 2020 | Journal number: vol. 82

Article type

scientific article

Publication language


  • Credit default swap
  • Financial risk management
  • Swap
  • Ryzyko finansowe
  • Ryzyko kredytowe
  • Swapy
  • Zarządzanie ryzykiem

EN The growing market economy poses new challenges in economics and management. Risk is one of the fundamental problems that has long troubled researchers, practitioners and ordinary investors. A concept so complex and ambiguous that it has not been possible for centuries to develop its single objective definition. Credit instruments are a relatively new branch of derivatives on the credit risk trading market. Financial markets have developed credit default swaps as a flexible investment risk hedge instrument that can be traded. The increasing use of CDS in determining investment risk associated with debt has raised concerns about the speculative nature of this financial instrument and the impact it may have on financial markets. The purpose of the article is to explain the basics of the mechanism of functioning of credit default swap as a modern financial instrument which, in addition to its advantages, may also have disadvantages.

Date of online publication


Pages (from - to)

7424 - 7428

Open Access Mode

open journal

Open Access Text Version

final published version

Date of Open Access to the publication

at the time of publication

Full text of article

Download file

Access level to full text


Ministry points / journal


Ministry points / journal in years 2017-2021