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Is the distance to default a good measure in predicting bank failures? : case studies

Harada, Kimie; Itō, Takatoshi; Takahashi, Shuhei - 2010

"This paper examines the movements of the Distance to Default (DD), a market-based measure of corporate default risk, of eight failed Japanese banks in order to evaluate the predictive power of the DD measure for bank failures. The DD became smaller in anticipation of failure in many cases. The...

Persistent link: https://www.econbiz.de/10003990927

The degree of judicial enforcement and credit markets : evidence from Japanese household panel data

Horioka, Charles; Sekita, Shizuka - 2010

"In this paper, we conduct an empirical analysis of the impact of better judicial enforcement on the probability of being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel Survey of Consumers, conducted by the Institute for Research...

Persistent link: https://www.econbiz.de/10003925149

Failure is an option : failure barriers and new firm performance

Eberhart, Robert N.; Eesley, Charles E.; Eisenhardt, … - 2012 - Last rev.: February 27, 2012

-natural experiment in Japan to examine this question. Using longitudinal data over a 10-year period, we find that bankruptcy reform not …

Persistent link: https://www.econbiz.de/10009504443

Firm exit during the COVID-19 Pandemic : evidence from Japan

Miyakawa, Daisuke; Oikawa, Koki; Ueda, Kozo - In: Journal of the Japanese and international economies : … 59 (2021), pp. 1-17

Persistent link: https://www.econbiz.de/10012800633

COVID-19 and SME Failures

Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - 2021

We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost minimization and measure each firm’s liquidity shortfall during and...

Persistent link: https://www.econbiz.de/10013232582

Japanese Firms During the Lost Two Decades : The Recovery of Zombie Firms and Entrenchment of Reputable Firms

Nakamura, Jun-ichi - 2017

Why has Japan's lost decade become the lost two decades? This book attempts to provide a novel perspective on causes of … dataset compiled by the Development Bank of Japan, it shows empirical evidence that an excessive conservative financial policy … highly recommended to readers who seek a convincing and comprehensive explanation of Japan's lost two decades from the …