• 1 Introduction
  • 2 Institutional background and related literature
  • 2.1 Institutional background
  • 2.2 Financial theory and distressed equity
  • 3 Data and hypotheses
  • 3.1 Sample description
  • 3.2 Hypotheses and variables
  • 4 Descriptive statistics and estimation results
  • 4.1 Descriptives statistics
  • 4.2 The firm perspective
  • 4.3 The market perspective
  • 5 Summary and conclusion
  • Bibliography