Similar Search Results

Garcia-Appendini, Emilia - 2014 - This draft: June 2014

This paper analyzes whether the financial distress of a firm affects the investment decisions of non-distressed competitors. On average, firms in distress impose indirect costs to non-distressed competitors by increasing costs of credit in the industry and hence restricting credit access and...

Persistent link: https://www.econbiz.de/10010410806

Bankruptcy and the COVID-19 crisis

Wang, Jialan; Yang, Jeyul; Iverson, Benjamin; Kluender, … - 2020

We examine the impact of the COVID-19 economic crisis on business and consumer bankruptcies in the United States using real-time data on the universe of filings. Historically, bankruptcies have closely tracked the business cycle and contemporaneous unemployment rates. However, this relationship...

Persistent link: https://www.econbiz.de/10012511297

Global macro-financial shocks and expected default frequencies in the euro area

Castrén, Olli; Dées, Stéphane; Zaher, Fadi - 2008

Modelling the link between the global macro-financial factors and firms’ default probabilities constitutes an elementary part of financial sector stress-testing frameworks. Using the Global Vector Autoregressive(GVAR) model and constructing a linking satellite equation for the firm-level...

Persistent link: https://www.econbiz.de/10011604921

The failure of Northern Rock : a multi-dimensional case study

Bruni, Franco (ed.); Llewellyn, David T. (ed.) - 2009

In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...

Persistent link: https://www.econbiz.de/10011705347

Debt recovery in firm liquidations : do liquidation trustees matter?

Cepec, Jaka; Grajzl, Peter; Zajc, Katarina - 2016

Insolvency systems play a crucial role in protection of creditor rights, yet micro-level empirical evidence on the … functioning of insolvency regimes worldwide is sparse. We investigate whether creditors' recovery of outstanding claims, a measure … of ex-post efficiency of an insolvency regime, depends on the characteristics of the trustee delegated the administration …

Persistent link: https://www.econbiz.de/10011518156

The real effects of bank distress : evidence from bank bailouts in Germany

Bersch, Johannes; Degryse, Hans; Kick, Thomas; Stein, Ingrid - 2019

How does bank distress impact their customers' probability of default and trade credit availability? We address this question by looking at a unique sample of German firms from 2000 to 2011. We follow their firm-bank relationships through times of distress and crisis, featuring the different...

Persistent link: https://www.econbiz.de/10012108717

Can asset reconstruction companies (ARCs) be part solution to the Indian debt problem?

Bhagwati, Jaimini; Khan, M. Shuheb; Bogathi, … - 2017

The Indian debt overhang issue is one of the major reasons that fresh investments are currently not being made in the scale required to promote higher growth and boost employment. Among banks the public sector banks (PSBs) are burdened with the bulk of net non-performing loans (NNPAs). These...

Persistent link: https://www.econbiz.de/10011638458

Bottom-up leading macroeconomic indicators : an application to non-financial corporate defaults using machine learning

Pike, Tyler; Sapriza, Horacio; Zimmermann, Tom - 2019

This paper constructs a leading macroeconomic indicator from microeconomic data using recent machine learning techniques. Using tree-based methods, we estimate probabilities of default for publicly traded non-financial firms in the United States. We then use the cross-section of out-of-sample...

Persistent link: https://www.econbiz.de/10012182392

How important is moral hazard for distressed banks?

Ben-David, Itzhak; Palvia, Ajay; Stulz, René M. - 2020

The moral hazard incentives of the bank safety net predict that distressed banks take on more risk and higher leverage. Since many factors reduce these incentives, including charter value, regulation, and managerial incentives, the net economic effect of these incentives is an empirical...

Persistent link: https://www.econbiz.de/10012216705

In the wake of the crisis : dealing with distressed debt across the transition region

Haas, Ralph de; Knobloch, Stephan - 2010

judicial system. -- distressed debt ; insolvency ; financial crisis …

Persistent link: https://www.econbiz.de/10003928000

1
2
3
4
5
6
7
8
9
10
Next
Last