Absolute priority rule violations, credit rationing, and efficiency

A demonstration that violations of the absolute priority rule exacerbate credit rationing problems by reducing the payment lenders receive in default states.

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Year of publication:	1997
Authors:	Longhofer, Stanley D.
Institutions:	Federal Reserve Bank of Cleveland
Subject:	Bankruptcy \| Credit

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Extent:	application/pdf
Series:	Working Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 9710
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005526659