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Essays in corporate finance and on the economic analysis of law

Hege, Ulrich - 1994

Persistent link: https://www.econbiz.de/10000933724

Reputation and the market for distressed firm debt

Noe, Thomas H.; Rebello, Michael J. - In: Journal of financial and quantitative analysis : JFQA 38 (2003) 3, pp. 503-521

Persistent link: https://www.econbiz.de/10001794038

Financial Crises, Debt Financing, and Default Risk

Chiu, Wan-Chien - 2015

firms with strong dependence on bank financing suffer from higher increases in default risk than firms with no such … default risk. We also find that the increase in default probabilities, caused by a decrease in bank lending, is only … significant for firms with low credit quality. These findings suggest that the bank supply shock theory helps explain the …

Persistent link: https://www.econbiz.de/10013028200

Equity Issuance of Distressed Firms

Park, James - 2015

Assuming benevolent managers, the debt-overhang problem suggests that distressed firms generally refrain from issuing equity. In contrast, agency theory predicts that distressed firm managers have strong self-interests to finance even deteriorating projects through equity issuance. This paper...

Persistent link: https://www.econbiz.de/10013038070

The Role of Debt Analyst Reports for Firms in Financial Distress

Gillette, Jacquelyn - 2016

firm managers in public debt markets or in marketing their investment bank and underwriting clients. I find that the …

Persistent link: https://www.econbiz.de/10012984684

Banking Reforms, Credit Access, and Resolution of Financial Distress

Desai, Chintal A. - 2019

distress. Using data aggregated at the US county-level, we show that allowing an in-state bank to open branches anywhere within …

Persistent link: https://www.econbiz.de/10012902303

The Role of Loan Forbearance in the Recovery of Financial Distressed Firms

Artes, Rinaldo; Barbosa, Klenio; Gonçalves, Adalto; … - 2022

financial distressed firms. Based on a novel proprietary database of a large Brazilian bank, we estimate a dynamic difference …

Persistent link: https://www.econbiz.de/10013492383

Riskantes Fremdkapital in der Unternehmensbewertung : Bewertung von Insolvenzkosten auf Basis der Discounted-Cashflow-Theorie

Lodowicks, Arnd (contributor) - 2008

Überschuldung als Insolvenzauslöser berücksichtigt, und greift dabei auf exotische Optionen zurück. Bei riskantem Fremdkapital …

Persistent link: https://www.econbiz.de/10013516904

Rollover Risk and Credit Risk

He, Zhiguo - 2011

Our model shows that deterioration of debt market liquidity not only leads to an increase in liquidity premium of corporate bonds but also credit risk. The latter effect originates from firms' debt rollover. When liquidity deterioration causes a firm to suffer losses in rolling over its maturing...

Persistent link: https://www.econbiz.de/10013134359

Rollover Risk and Credit Risk

He, Zhiguo - 2010

This paper models a firm's rollover risk generated by conflict of interest between debt and equity holders. When the firm faces losses in rolling over its maturing debt, its equity holders are willing to absorb the losses only if the option value of keeping the firm alive justifies the cost of...

Persistent link: https://www.econbiz.de/10013148863