[图书][B] Corporate financial distress, restructuring, and bankruptcy: analyze leveraged finance, distressed debt, and bankruptcy
EI Altman, E Hotchkiss, W Wang - 2019 - books.google.com
A comprehensive look at the enormous growth and evolution of distressed debt markets,
corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative …
corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative …
Anatomy of corporate borrowing constraints
Macro-finance analyses commonly link firms' borrowing constraints to the liquidation value
of physical assets. For US nonfinancial firms, we show that 20% of debt by value is based on …
of physical assets. For US nonfinancial firms, we show that 20% of debt by value is based on …
Bankruptcy spillovers
How do different bankruptcy approaches affect the local economy? Using US Census
microdata, we explore the spillover effects of reorganization and liquidation on …
microdata, we explore the spillover effects of reorganization and liquidation on …
A survey of private debt funds
Despite its large and increasing size in the United States and Europe, the private debt (PD)
market, compared to the bank and syndicated loan markets, has been researched little. In …
market, compared to the bank and syndicated loan markets, has been researched little. In …
Asset specificity of nonfinancial firms
We develop a new data set to study asset specificity among nonfinancial firms. Our data
cover the liquidation values of each category of assets on firms' balance sheets and …
cover the liquidation values of each category of assets on firms' balance sheets and …
Sizing up corporate restructuring in the covid crisis
In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with
a surge of financial distress in the business sector. Some firms will be able to survive, while …
a surge of financial distress in the business sector. Some firms will be able to survive, while …
Optimal capital structure and bankruptcy choice: Dynamic bargaining versus liquidation
S Antill, SR Grenadier - Journal of Financial Economics, 2019 - Elsevier
We model a firm's optimal capital structure decision in a framework in which it may later
choose to enter either Chapter 11 reorganization or Chapter 7 liquidation. Creditors …
choose to enter either Chapter 11 reorganization or Chapter 7 liquidation. Creditors …
Employee costs of corporate bankruptcy
An employee's annual earnings fall by 13% in the first full calendar year after her firm's
bankruptcy, and the present value of lost earnings from bankruptcy to six years following …
bankruptcy, and the present value of lost earnings from bankruptcy to six years following …
Dissecting bankruptcy frictions
How efficient is corporate bankruptcy in the United States? Two frictions, asymmetric
information and conflicts of interest among creditors, can cause several inefficiencies …
information and conflicts of interest among creditors, can cause several inefficiencies …