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A comparison of financial recontracting in workouts and chapter 11 reorganizations

Franks, Julian R.; Torous, Walter N. - 1993

Persistent link: https://www.econbiz.de/10000886269

An empirical investigation of US firms in reorganization

Franks, Julian R. - In: The journal of finance : the journal of the American … 44 (1989) 3, pp. 747-769

Persistent link: https://www.econbiz.de/10001072868

A comparison of financial recontracting in distressed exchanges and Chapter 11 reorganizations

Franks, Julian R. - In: Journal of financial economics 35 (1994) 3, pp. 349-370

Persistent link: https://www.econbiz.de/10001160840

Control rights, debt structure, and the loss of private benefits : the case of the UK insolvency code

Franks, Julian R. - In: The review of financial studies 9 (1996) 4, pp. 1165-1210

Persistent link: https://www.econbiz.de/10001212387

Loan guarantees, wealth transfers and incentives to invest

Selby, Michael J. P. - In: The journal of industrial economics 37 (1988) 1, pp. 47-65

Persistent link: https://www.econbiz.de/10001056214

The aggregate consequences of default risk : evidence from firmlevel data

Besley, Timothy; Van Reenen, John; Roland, Isabelle - 2020

Persistent link: https://www.econbiz.de/10012200756

The aggregate consequences of default risk : evidence from firm-level data

Besley, Timothy; Roland, Isabelle; Van Reenen, John - 2020

This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of credit contracts with moral hazard, we show that a firm's probability of default is a sufficient statistic for capital allocation. The theoretical framework suggests an aggregate...