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Corporate Insolvency Procedures and Bank Behavior : A Study of Selected Asian Economies

Hussain, Qaizar - 1999

This paper explores insolvency and debt recovery procedures, and political, legal, and institutional factors influencing financial decisions of corporations and banks during pre-crisis years in six Asian economies. It also examines whether these factors may have contributed to the depth and...

Persistent link: https://www.econbiz.de/10014400638

Corporate Leverage, Bankruptcy, and Output Adjustment in Post-Crisis East Asia

Kim, Se-jik - 1999

Different levels of corporate leverage are used in this paper to help explain the wide range of post-crisis output adjustment across East Asia. In the model developed here, highly leveraged firms facing a cutoff of capital inflows are threatened by bankruptcy. These firms respond by eliminating...

Persistent link: https://www.econbiz.de/10014400639

Pricing Fund Liquidity Provision

Rossi, Marco - 2007

This paper presents a market-based framework for pricing Fund liquidity assistance that accounts for the credit risk … and the insurance benefit involved in such operations. It is based on the isomorphic correspondence between Fund liquidity … the liquidity guarantee provided by the Fund could range from a few to over one hundred basis points depending on the …

Persistent link: https://www.econbiz.de/10014400782

Legal Aspects of Regulatory Treatment of Banks in Distress

Asser, Tobias M. C. - 2001

This book analyzes and compares the laws of selected industrial countries that are representative of the different approaches to the treatment of banks in distress. It addresses only those banking and economic policy issues that are required for a proper understanding of the banking law or the...

Persistent link: https://www.econbiz.de/10014400800

Corporate and Household Debt Distress in Latvia : Strengthening the Incentives for a Market-Based Approach to Debt Resolution

Saxegaard, Magnus - 2011

This paper reviews Latvia’s efforts to manage the increase in debt distress resulting from the unwinding of the 2000-07 credit boom and spillovers from the global financial crisis. The authorities have designed a strategy that strengthens incentives for marked-based debt resolution by...

Persistent link: https://www.econbiz.de/10014401054

Stock Market Liquidity and the Macroeconomy : Evidence From Japan

Choi, Woon Gyu - 2005

price. We document a steep drop in the liquidity of the Japanese stock market in the post-bubble period and a steep rise in … liquidity risk. We find that, during Japan''s deflationary period, firms with more liquid balance sheets were less exposed to … stock market liquidity risk, while slowly growing firms were highly exposed to liquidity shocks. Also, aggregate liquidity …

Persistent link: https://www.econbiz.de/10014401145

Japan's Distressed Debt Market

Ohashi, Kazunari - 2004

Sizable risk capital from outside may be necessary to accelerate Japan''s corporate restructuring to replace the stock of impaired bank loans. To attract risk capital, impaired loans must find market-clearing prices. However, the asymmetry in the bid-ask prices faced by banks and distressed-debt...

Persistent link: https://www.econbiz.de/10014401302

The Option-Ipod. the Probability of Default Implied by Option Prices Basedon Entropy

Capuano, Christian - 2008

We present a framework to derive the probability of default implied by the price of equity options. The framework does not require any strong statistical assumption, and provide results that are informative on the expected developments of balance sheet variables, such as assets, equity and...

Persistent link: https://www.econbiz.de/10014401677

Beneficial Delays in Debt Restructuring Negotiations

Bi, Ran - 2008

Delays in debt restructuring negotiations are widely regarded as inefficient. This paper argues that delays can allow the economy to recover from a crisis, make more resources available for debt settlement, and enable the negotiating parties to enjoy a larger ""cake"". Within this context,...

Persistent link: https://www.econbiz.de/10014401755

Early Ideason Sovereign Bankruptcy Reorganization: A Survey

Rogoff, Kenneth S. - 2002

This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization procedures at the international level. We focus on actual proposals for new procedures made from the late 1970s up to an influential lecture by Sachs (1995), with brief...

Persistent link: https://www.econbiz.de/10014401809