Hunsader, Kenneth; Delcoure, Natalya; Pennywell, Gwendolyn - In: Managerial Finance 39 (2013) 11, pp. 1032-1055
Purpose – The purpose of this paper is to investigate the effect of bankruptcy announcements on the bankrupt firm's competitors' stock returns. Design/methodology/approach – Starting with a sample of Chapter 11 bankruptcies from 1980 through 2008, the authors use event study methodology to...