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White, Michelle J. - In: Handbook of law and economics : volume 2, (pp. 1013-1072). 2007

Bankruptcy is the legal process whereby financially distressed firms, individuals, and occasionally governments resolve … their debts. The bankruptcy process for firms plays a central role in economics, because competition drives inefficient … corporate bankruptcy is to reduce the cost of default by having a government-sponsored procedure that resolves all debts …

Persistent link: https://www.econbiz.de/10014023496

Supply uncertainty of the bond investor base and the leverage of the firm

Massa, Massimo; Yasuda, Ayako; Zhang, Lei - In: Journal of Financial Economics 110 (2013) 1, pp. 185-214

We examine the effect of the bond capital supply uncertainty of institutional investors (e.g., mutual bond funds and insurance companies) on the leverage of the firm using a novel data set. Our main finding is that the supply uncertainty of the firm's bond investor base — measured as (i) the...

Persistent link: https://www.econbiz.de/10011039228

The Effect of the Degree of Internationalization on Capital Structure for Listed Multinational Corporations in Taiwan during the Asian Financial Crisis

Kuo, Hsien-Chang; Wang, Lie-Huey - In: Review of Pacific Basin Financial Markets and Policies … 08 (2005) 03, pp. 447-466

This paper examines the effect of the degree of internationalization on capital structure for multinational corporations (MNCs) in Taiwan during the Asian financial crisis in 1997 by using dummy variables in a multiple regression analysis. The results show that: (1) For the IT industry, the...

Persistent link: https://www.econbiz.de/10005047217

Information asymmetry, capital structure and equity value of firms listed on the WSE

Gralewska, Milena; Białek-Jaworska, Anna - In: Journal of banking and financial economics 17 (2022) 1, pp. 17-41

The paper investigates the impact of capital structure and information asymmetry on the value of companies listed on the Warsaw Stock Exchange. The study was conducted using the ordinary least squares (OLS) method on a sample of 273 companies in 2017 and the GMM dynamic paneldata approach with...

Persistent link: https://www.econbiz.de/10013348209

Institutional, Macroeconomic and Firm-Specific Determinants of Capital Structure : The African Evidence

Lemma, Tesfaye Taddese - 2012

The aim of this study is to empirically investigate the role of firm- industry-, institutional-, and macroeconomic-factors on a firm's capital structure decision in the context of nine African countries. To this end, we consider a sample of 986 non-financial firms over a period of 10 years...

Persistent link: https://www.econbiz.de/10013113804

(Un)secured debt and the likelihood of court-supervised reorganization

Blazy, Régis; Chopard, Bertrand - In: European Journal of Law and Economics 34 (2012) 1, pp. 45-61

Persistent link: https://www.econbiz.de/10010863244

Distressed exchange, bargaining power, and prior capital structure

Sarkar, Sudipto - In: Journal of economic dynamics & control 37 (2013) 12, pp. 2695-2709

Persistent link: https://www.econbiz.de/10010348109

Contingent debt and performance pricing in an optimal capital structure model with financial distress and reorganization

Grochulski, Borys; Wong, Russell - 2018

Persistent link: https://www.econbiz.de/10011959353

Capital Structure with Endogenous Liquidation Values

Bernardo, Antonio E. - 2015

Capital structure theories typically assume liquidation values are exogenous even though they may be determined in part … healthy firms because of debt overhang. Thus, high industry debt lowers expected asset liquidation values and provides an …

Persistent link: https://www.econbiz.de/10013032157

Restoring the financial sector and corporate deleveraging in Slovenia

Sila, Urban - 2015

restructuring and liquidation of assets, BAMC needs to act independently, transparently, with corporate governance of highest …

Persistent link: https://www.econbiz.de/10011399559