In a simple firm value model we consider the impact of the insolvency probability on the valuation of equity and debt, which are assumed to be not publicly traded. For the case of a distressed company, which usually has high debt and low equity, we can show that the impact becomes increasingly...

In a simple firm value model we consider the impact of the insolvency probability on the valuation of equity and debt, which are assumed to be not publicly traded. For the case of a distressed company, which usually has high debt and low equity, we can show that the impact becomes increasingly...

A robust bank industry is a major player in the stability of an economy, and therefore the macroeconomic decisions of most countries revolve around the bank-based financial sector. The Ghana financial industry witnessed a cleanup exercise in 2017 due to the impaired conditions under which it...

Legal origins theory suggests that law reform,strengthening shareholder and creditor rights, should enhance financial development. We use recently created datasets measuring legal change over time in a sample of 25 developing, developed and transition countries to test this claim. We find that...

In our sample of 1,937 US mergers (1995 to 2011), 8.4 percent of all targets received oers with negative premiums where the initial bid undercuts the pre-announcement market price. We theoretically show that target overvaluation, market liquidity and `hidden earnouts', where target shareholders...

Although many studies acknowledge negative premiums, there exists no theoretical or dedicated empirical analysis of the phenomenon. In our sample of 1,937 US mergers (1995 to 2011), 8.4 percent of all targets received offers with negative premiums where the initial bid undercuts the...

The aim of this study is to examine the relationship between Corporate Governance Index and with its dependents. This Samsung Company had been chosen as the focus of our studies. Five years of data were collected from Samsung’s annual reports and websites from the year 2014 until the year...

The study aims to measure corporate governance and its impact on company performance and the risk of Cool Group Limited. The research method is to use the SPSS System to perform regression analysis on Coolpad Group Limited. The study found that the liquidity performance of Cool Group Co., Ltd....

Why do some firms borrow from multiple creditors and employ multiple debt types? This paper shows that entrenched managers exploit coordination failure and free-riding problem amongst multiple creditors. [1] We find that managerial entrenchment is inversely related to debt specialization and...

This work is devoted to the analysis of the factors influencing the bankruptcy of the Russian manufacturing industry companies for the period from 2012 to 2020. Logistic regression was used as an econometric tool for the modelling the probability of companies’ default. According to the...