Acharya, Viral V. (contributor); … - 2007
Porta,
Lopez-de-Silanes and Shleifer, 1999), the mix between market- and bank-dominated �nance (Allen
and Gale, 2000), and … is bad:
Lemma 3 of Appendix 1 characterizes the outcome when creditors hold control rights in bank-
ruptcy. Intuitively …