A growing number of jurisdictions have adopted bankruptcy law reforms to aid debt restructuring. By utilizing a difference-in-differences model based on bankruptcy law reforms across six economically advanced jurisdictions, we discover that firms adopt more diversified debt instruments following...

A growing number of jurisdictions have adopted bankruptcy law reforms to aid debt restructuring. By utilizing a difference-in-differences model based on bankruptcy law reforms across six economically advanced jurisdictions, we discover that firms adopt more diversified debt instruments following...

A growing number of jurisdictions have adopted bankruptcy law reforms in the spirit of U.S. Chapter 11 to facilitate the restructuring of distressed corporate debt. This paper evaluates the impact of these reforms on firms' choice of debt structures. Using a difference-in-differences design...

This paper examines the relationship between net trade credit and firms' investment levels, focusing on financially distressed firms. First, it introduces a theoretical model to predict the role played by net trade credit as a coordination device differentiating firms by their degree of...

We examine whether performance-sensitive debt (PSD) is used to reduce hold-up problems in long-term lending relationships. We find that the use of PSD is more common in the presence of a long-term lending relationship and if the borrower has fewer financing alternatives available. In syndicated...

This book comprises 19 papers published in the Special Issue entitled "Corporate Finance", focused on capital structure (Kedzior et al., 2020; Ntoung et al., 2020; Vintilă etal., 2019), dividend policy (Dragotă and Delcea, 2019; Pinto and Rastogi, 2019) and open-market share repurchase announcements (Ding...