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Forecasting Bankruptcy with Incomplete Information

Xu, Xin - 2013

We propose new specifications that explicitly account for information noise in the input data of bankruptcy hazard … models. The specifications are motivated by a theory of modeling credit risk with incomplete information (Duffie and Lando … in cases where information quality is a more serious problem. Our findings provide strong empirical support for using our …

Persistent link: https://www.econbiz.de/10015241970

Liquidation in the Face of Adversity: Stealth Vs. Sunshine Trading, Predatory Trading Vs. Liquidity Provision

Schoeneborn, Torsten; Schied, Alexander - 2007

We consider a multi-player situation in an illiquid market in which one player tries to liquidate a large portfolio in a short time span, while some competitors know of the seller's intention and try to make a pro¯t by trading in this market over a longer time horizon. We show that the...

Persistent link: https://www.econbiz.de/10015242206

Systemic Liquidity Crisis with Dynamic Haircuts

Sever, Can - 2014

In this paper, using network tools, I analyse systemic impacts of liquidity shocks in interbank market in case of endogenous haircuts. Gai, Haldane and Kapadia (2011) introduce a benchmark for liquidity crisis following haircut shocks, and Gorton and Metrick (2010) reveal the evidence from...

Persistent link: https://www.econbiz.de/10015242271

Firma Başarısızlığının Dinamiklerinin Belirlenmesinde Makina Öğrenmesi Teknikleri: Ampirik Uygulamalar ve Karşılaştırmalı Analiz

Cakir, Murat - 2005

banking systems, by the end of 2007, and January 2008 in Turkey, at the latest. Financial and operational information of the … firms, makes up the input to the risk analysis. This information can be aggregated to portray the sectoral trends, and …

Persistent link: https://www.econbiz.de/10015242477

Défaut de paiement,Achat de consentement et efficience économique

Tarbalouti, Mr - 2010

The theoretical literature on the modes of the default and its implications on the rate of the default distinguishes two rules: the rule of the discharge allowing to exempt the debtor in case of failure and the rule of obligation of repayment of the debts by the debtor. Several theoretical...

Persistent link: https://www.econbiz.de/10015242707

Les déterminants théoriques de la faillite de l’entrepreneur et l’efficience de l’allocation du risque juridique : un survol de littérature

Tarbalouti, Essaid - 2010

In this article, we develop the various theories which explain the determinants of the bankruptcy of the entrepreneur and the justifications of law to allocate this risk. We distinguish the theories from impulsive behavior or irrationality, the bad luck and the capacity to evaluate the risk of...

Persistent link: https://www.econbiz.de/10015242725

DEFAUT DE PAIEMENT, COMPORTEMENT DE SAUVE-QUI-PEUT ET TRAITEMENT DES CREANCIERS

Tarbalouti, Essaid - 2013

This article analyzes the economic effeciency of legal rules of bankruptcy. It aims to answer the following question : do the legal rules of bankruptcy allow an efficient solution to the problem of sauve-qui-peut or opportunistic behavior inherent in bankruptcy firm ? I adopt a model of games...

Persistent link: https://www.econbiz.de/10015242922

Estructura de financiamiento: ¿cuánta deuda debería incorporar en mi empresa?

Rubio, Fernando - 2006

Structure of financing: How much debt should I incorporate in my firm? The article studies some aspects related to the structure of financing. Particularly, it analyzes if is good to be gotten into debt and, in case that it be, in which conditions a business should incorporate debt. As a...

Persistent link: https://www.econbiz.de/10015243623

Customer-base concentration, profitability and distress across the corporate life cycle

Irvine, Paul; Park, Shawn Saeyeul; Yildizhan, Celim - 2013

Using a recently expanded data set on supplier-customer links, we examine how customer concentration affects firm profitability. We find that the relation between customer concentration and firm profitability is more complex than recent literature suggests. We confirm that customer concentration...

Persistent link: https://www.econbiz.de/10015244068

Financial crisis in The Arcades Project of Walter Benjamin

Estrada, Fernando - 2014

The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems...

Persistent link: https://www.econbiz.de/10015244097