Search Results - subject_exact:"Insolvenzverfahren"

Explaining Northvolt's bankruptcy and the dilemma of green deals

Sandström, Christian - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015620460

Hybrid machine learning-econometric framework for financial distress scoring : evidence from German manufacturing firms

Farag, Karim; Ali, Loubna; Hamada, Mohamed Ahmed - 2026

Nowadays, the European economy faces significant global challenges that threaten the continuity of economic growth, especially in the German manufacturing sector, which is under strain from financial turmoil, resulting in numerous layoffs and firm closures. In this respect, FinTech significantly...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628559

Earnings manipulation and probability of default : insights from AnaCredit and supervisory implications

Allali, Lamia; Dierick, Nicolas; Santoni, Alessandro - 2026

This article provides a novel insight into whether earnings manipulation signals are reflected in banks' internal credit risk estimates, as measured by the probability of default (PD) estimates, and whether such manipulation has an impact on credit risk (point in time or deferred). The...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015628824

Nature-adjusted probability of default for European small and medium enterprises

Valente, Fernanda; Chen, Yujia; Calabrese, Raffaella; … - 2026

Small and Medium-sized Enterprises (SMEs) are the backbone of the European economy. However, the impact of nature-related risks on SME creditworthiness is still largely unexplored. To address this gap, we incorporate indicators of nature-related risks - namely the Biodiversity Intactness Index,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015632881

AI-driven bankruptcy prediction in manufacturing SMEs : comparing machine learning techniques with logistic regression

Letkovský, Stanislav; Jenčová, Sylvia; … - 2026

Bankruptcy prediction is currently a widely researched topic, as it typically results from a chain of negative events. Logistic Regression (LR) is one of the standard prediction tools; however, with advances in technology, machine learning (ML) methods are gaining prominence and demonstrating...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015634019

Hydrogeological and credit risk : the Italian firms' physical risk-adjusted probability of default

Cugliari, Manuel; Narizzano, Simone; Vassalli, Federica - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613760

The Economic Impacts of Insolvency Regimes : Evidence, Challenges and Opportunities

Menezes, Antonia; Gropper, Akvile - 2026

This note reviews empirical evidence on the impacts of insolvency regimes on entrepreneurship, access to credit, preservation of viable businesses and jobs, and other variables contributing to economic development. Its objective is to provide policy makers with evidence to guide insolvency...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613923

The role of corporate governance mechanisms, leverage, and financial distress for improving audit quality

Kalbuana, Nawang; Uzliawati, Lia; Taqi, Muhamad; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015614112

Using the (rule of) law as an elixir to arrest moral capital bankruptcy and financial collapse of South African state-owned enterprises

Buthelezi, Michael C. - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015617309

A quantile probability model for sectoral corporate defaults in Europe

Konietschke, Paul; Metzler, Julian; Marques, Aurea Ponte - 2026

Conventional credit risk models understate tail risk by centering on mean default probabilities and neglecting distributional and sectoral heterogeneity. We propose a Quantile Probability of Default (QPD) framework based on unconditional quantile regressions estimated on flow default rates from...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015618110

The effects of wildfire and distant air pollution on household financial well-being

An, Xudong; Gabriel, Stuart A.; Tzur-Ilan, Nitzan - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015609890

Government arrears and corporate policies : lessons from a natural experiment

Abad, José M.; Bermejo, Vicente J.; Cuñat, Vicente; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611089

A framework for interpreting machine learning models in bond default risk prediction using LIME and SHAP

Zhang, Yan; Chen, Lin; Tian, YiXiang - 2026

Interpretability analysis methods, such as LIME and SHAP, are widely employed to explain the predictions of artificial intelligence models; however, they primarily function as post hoc tools and do not directly quantify the intrinsic interpretability of the models. Although it is commonly...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611531

The Financial Lobster Bias

Reyes Marín, Óscar De los; Paz Gil, Iria; … - 2026

The Financial Lobster Bias describes how SMEs, driven by distorted liquidity perceptions, engage in aggressive expansion until financial breakdown occurs. Using data from 10,412 Spanish SMEs (2000-2024), this study shows that liquidity misperception-measured through two versions of the Liquidity...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591400

Corporate governance structures and firm value : the mediating role of financial distress in ASEAN construction companies

Firdaus, Anton; Afiah, Nunuy Nur; Suharman, Harry; … - 2026

This study tests the connectionbetween corporate governance structures and firm value, incorporating financial distress as a mediating mechanism among construction companies listed in ASEAN markets. Utilizing a sample of 58 firms drawn from an initial population of 169 companies over the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015591630

The birth of insolvency in China : judicial innovation during the Wenzhou curb crisis

Ding, Chen; Deakin, Simon F. - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015592006

Risky collateral and default probability

Koufopoulos, Kostas; McGowan, Danny; Perdichizzi, Salvatore - 2026

We use a novel data set containing all corporate loans throughout the Eurozone to document a series of novel stylized facts on the relationship between collateral and the probability of default. First, we show that the pervasive empirical finding that riskier borrowers pledge collateral is...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015592344

Tension in financial reporting : reacting to a peer bankruptcy announcement

Delshadi, Mahmoud; Hammami, Ahmad; Magnan, Michel - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015597293

Debtor protection and health insurance : evidence from personal bankruptcy reform

Barbieri, Paolo Nicola; Bottazzi, Laura; Di Giacomo, … - 2026

We investigate how the use of bankruptcy as an implicit health insurance varies across households, focusing on heterogeneity by asset holdings, race, marital status, and educational attainment. Using a difference-in-differences design based on the 2005 bankruptcy reform, we find that the reform...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015586920

Modeling recurrent financial distress : a survival analysis of structured dependence

Uğur, Mehmet; Zeynalov, Ayaz - 2026

Existing research on financial distress typically treats failure as a single event and pays limited attention to the dynamic dependence between recurrent distress episodes. Ignoring such dependence can lead to biased hazard estimates and weaker predictive performance. We propose a...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015616221

Optimal intermediary contracts

Arjmandi, Nabi; Gu, Chao; Haslag, Joseph H.; Wang, Yajie - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641817

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Optimal intermediary contracts

Arjmandi, Nabi; Gu, Chao; Haslag, Joseph H. - 2022

Book / Working Paper

A comparative analysis on turnaround alternative dispute resolution and civil rehabilitation

Xu, Peng - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015641525

Loan defaults and credit risk in microfinance

Andam Boiquaye, Perpetual; Aidoo, Bernadette; Gyamerah, … - 2026

This study investigates the probability of consumer default across both secured and unsecured assets, with a particular focus on borrower behavior and the role of moral hazard in shaping individual credit risk. It examines how different borrower decisions, such as investing in secured and...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015639069

Contagion and default risks in derivative pricing : a Hawkes-based model

Agana, Francis; Maré, Eben - 2026

Modern financial systems do not exist in isolation but form part of a complex global network of interconnected financial systems. This globalization of financial systems significantly increases the risk of contagion in financial markets, impacting asset prices and other important economic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015638968

Dynamics of oil markets amid financial distress among small firms in the energy industry

Al Mustanyir, Salem - 2026

This research examines market reactions to financial distress announcements by small privately held Canadian oil firms operating in the upstream sector between 2015 and 2021, employing an event study methodology, with daily spot prices for Brent and WTI crude oil serving as market benchmarks....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015639171

Going concern risk and bankruptcy outcomes associated with property, plant, and equipment intensity, impairment, and age

Deis, Donald Ray; Reynolds, J. Kenneth; Wertheim, … - 2026

Corporate management and their auditors are required to evaluate whether there is a risk that the company's ability to continue as a going concern is impaired. For fixed asset-intensive firms, however, regulatory inspections consistently identify problems with auditors' testing of property,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015638923

Bank Failures : The Roles of Solvency and Liquidity

Correia, Sergio A.; Luck, Stephan; Verner, Emil - 2026

Bank failures can stem from runs on otherwise solvent banks or from losses that render banks insolvent, regardless of withdrawals. Disentangling the relative importance of liquidity and solvency in explaining bank failures is central to understanding financial crises and designing effective...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015611157

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Bank failures: the roles of solvency and liquidity

Correia, Sergio; Luck, Stephan; Verner, Emil - 2026

Book / Working Paper

Bank failures : the roles of solvency and liquidity

Correia, Sergio; Luck, Stephan; Verner, Emil - 2026

Book / Working Paper

Timing matters : creditor incentives and delayed admission under India's IBC

Sharma, Anjali; Sengupta, Rajeswari - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015627675

What drives mortgage default in Europe? : the role of liquidity, equity and debt enforcement

Lindner, Peter; Riedl, Aleksandra - 2026

Using harmonized household data from 18 European countries, this paper studies what triggers mortgage default. We distinguish between liquidity stress, negative equity, and the double trigger, where both occur simultaneously. We find that all three increase default risk, but the double trigger...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015650650

Monetary tightening and corporate default risk : evidence from floating-rate debt exposure

Şengül, Aykut; Çinko, Levent - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015647294

Bankruptcy law reform and its impact on firms' borrowing : a South Asian experience

Puri, Swati Kumaria; Fang, Jiali; Wongchoti, Udomsak; … - 2026

With the enactment of the Insolvency and Bankruptcy Code (IBC) in 2016, India reformed and unified its fragmented insolvency frameworks into a single comprehensive law designed to prioritize asset maximization and ensure time-bound resolutions. Through a quasi-experimental setting, we examine...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015643181

Zombies, insolvency reform, and misallocation of capital

Nilsson-Hakkala, Katariina; Kumar, Abhishek - 2026

Distressed and zombie firms are widespread in economies with weak insolvency regimes. This study investigates whether reforming insolvency laws can reduce capital misallocation. We introduce a framework for decomposing financial misallocation and derive metrics adequate to capture two...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015652628

The Generalized Euler Equation and the bankruptcy-sovereign default problem

Mateos-Planas, Xavier; McCrary, Sean; Ríos-Rull, … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015653809

Corporate financial distress and equity market contagion : evidence from energy sector collapses in the U.S. stock market

Al Mustanyir, Salem - 2026

This study provides the first empirical analysis of how energy-sector corporate filing events transmit to financial markets, bridging a critical gap between corporate financial distress literature and commodity market dynamics. The analysis employs an event study methodology with Wilcoxon...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015653758

Forbearance lending as a crisis management tool : evidence from Japan

Michalski-Roland, Isabelle; Saito, Yukiko Umeno; … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015655677

When loss strikes twice : severe health shocks and financial well-being

Majlesi, Kaveh; Molin, Elin; Roth, Paula - 2026

We study how fatal and nonfatal health shocks affect households' ability to meet their financial obligations. We find that fatal shocks substantially increase the likelihood of default and that housing wealth plays a key role as a self-insurance mechanism. Surviving spouses who experience the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015656131

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When loss strikes twice : severe health shocks and financial well-being

Majlesi, Kaveh; Molin, Elin; Roth, Paula - 2026

Book / Working Paper