Acharya, Viral V. (contributor); … - 2005
means any comparison of capital structures across bankruptcy
codes must include a non-trivial role for the liquidation value …
Zingales (1995). Franks, Nyborg, and Torous (1996) present a detailed comparison of US, UK,
and German bankruptcy systems along … investment of an amount I to undertake a
positive net present-value project. The firm chooses the mix of debt and equity in its …