Although there has been a growing interest by researchers worldwide over the past decades to identify the factors pertaining to corporate financial distress and to develop financial distress prediction models that serve as early warning signs to the various firm stakeholders, notably to date,...

Healthcare firms are filing for Chapter 11 bankruptcy at record rates. We find that bankruptcies increase healthcare staff turnover, worsen care, and harm patients. Using a difference-in- differences design, we estimate that a bankruptcy filing immediately increases staff turnover and worsens...

An Overview over the Content of This Book -- GB Models and Yield Curves in Traditional Finance, Mathematical Finance and K System -- Pricing Government Bonds and Yield Curves via K Models -- Empirical Effectiveness of the KGB Model as JGB and USGB Pricing Models -- Empirical Effectiveness of...

This paper presents a simple model with financial frictions where inflation increases the cost faced by firms holding liquid assets to hedge risky production against expenditure shocks. Inflation tilts firms' technology choice away from innovative activities and toward safer but return-dominated...

Working with a private bank in Ghana, this study examines the impacts of a commitment savings product designed to help clients taking repeated overdrafts break their debt cycles. Overall, the product significantly increased savings with the bank without increasing overdrafts. However, after...

This note is part of the series of COVID-19 Notes developed by the World Bank Group's Equitable Growth, Finance and Institutions (EFI) team. By highlighting concrete examples of insolvency and debt restructuring reforms undertaken in response to the COVID-19 pandemic as well as past crises, this...