The aim of this work is to analyze the factors that help companies avoid liquidation following the spirit of the … influence the outcome of the bankruptcy process (liquidation or reorganization). We analyze unique accounting data from 2 … liquidation trustee, Big 4 administrators, and higher remunerations, along with the type of court in charge. Processes are more …

The paper investigates the influence of the speed of liquidation of insolvent firms on leverage. The theoretical model … presented formalizes the intuitive view that an increase in liquidation speed is expected to decrease average leverage as highly … leveraged firms exit. Analysis of Indian data, however, suggests that an increase in liquidation speed increases average …