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Hunting the Living Dead A Peso Problem in Corporate Liabilities Data

Manera, Matteo; Cherubini, Umberto - 2005

Recent literature has pointed out that information asymmetries may be the reason for the poor performance of structural credit risk models to fit corporate bond data. It is well known in fact that these models lead to a strong understatement of the credit spread terms structure, particularly on...

Persistent link: https://www.econbiz.de/10010312533

Corporate Distress and Restructuring with Macroeconomic Fluctuations: The Cases of GM and Ford

Oxelheim, Lars; Wihlborg, Clas - 2009

Traditional methods for evaluating corporate credit risk rarely consider the impact of the macro economy on corporate value and performance. We argue that lenders and management can obtain valuable information about the need for and approach to restructuring by decomposing default predictions...

Persistent link: https://www.econbiz.de/10010320364

Probleme des Insolvenzplanverfahrens

Henselmann, Klaus; Gutbier, Manuel - 2010

The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are …

Persistent link: https://www.econbiz.de/10010300002

Die Nutzung insolvenzrechtlicher Sanierungswege durch kleine und mittlere Unternehmen: Das Beispiel der Eigenverwaltung

Kranzusch, Peter; Icks, Annette - 2018

Sanierungswege, z. B. das eigenverwaltete Schutzschirmverfahren vor der Insolvenz und die Eigenverwaltung während des …With the introduction of the ESUG law, German insolvency legislation was reformed in 2012. It offers new proceedings … for enterprise re-organisation, both before insolvency and between the application for insolvency and the start of the …

Persistent link: https://www.econbiz.de/10011818046

Audit committee effectiveness, bank efficiency and risk-taking: Evidence in ASEAN countries

Nguyen, Quang Khai - In: Cogent Business & Management 9 (2022) 1, pp. 1-12

This study investigates the inter-relationship between audit committee effectiveness, bank efficiency and risk-taking in seven ASEAN countries for the period 2010-2019. By using three-stage least squares (3SLS) method, we contribute to literature the relationship between audit committee...

Persistent link: https://www.econbiz.de/10014505654

The Relationship Between Bankruptcy Risk and Growth for Non-Listed Firms

Nordal, Kjell Bjørn; Næs, Randi - 2010

We investigate the relationship between bankruptcy risk and expected future sales growth for Norwegian non-listed firms for the period 1988-2007. We find that firms with high bankruptcy risk also have high expected future growth. Financial ratios characterizing firms with high bankruptcy risk...

Persistent link: https://www.econbiz.de/10012143765

The Age of Turbulence - Credit Derivatives Style

Byström, Hans - 2010

This paper focuses on the many extreme credit default swap spread movements observed during the recent credit crisis and on how the tails of the spread (and price) change distribution significantly differ from those of the normal distribution even for diversified credit derivatives portfolios....

Persistent link: https://www.econbiz.de/10013208532

Complementarity and Financial Systems

Hackethal, A.; Tyrell, Marcel - 1999

Individual financial systems can be understood as very specific configurations of certain key elements. Often these configurations remain unchanged for decades. We hypothesize that there is a specific relationship between key elements, namely that of complementarity. Thus, complementarity seems...

Persistent link: https://www.econbiz.de/10010316267

Trade credit and the propagation of corporate failure: An empirical analysis

Jacobsen, Tor; von Schedvin, Erik - 2012

We quantify the importance of trade credit chains for the propagation of corporate bankruptcies. Our results show that trade creditors (suppliers) that issue more trade credit are more exposed to trade debtor (customer) failures, both in terms of the likelihood of experiencing a debtor failure...

Persistent link: https://www.econbiz.de/10010320754

Corporate Social Performance and the Likelihood of Bankruptcy: Evidence from a Period of Economic Upswing

Habermann, Florian; Fischer, Felix Bernhard - In: Journal of Business Ethics 182 (2021) 1, pp. 243-259

The paper aims to investigate the effects of corporate social performance (CSP) on bankruptcy likelihood in times of economic upswing. This is important because prior related literature focused on data containing times of economic crises. We measure bankruptcy likelihood with the Altman Z score...

Persistent link: https://www.econbiz.de/10014502011