Coelho, Luís Miguel Serra; John, Kose; Taffler, Richard J. - Centro de Estudos e Formação Avançada em Gestão e … - 2011
This paper asks whether the stocks of bankrupt firms are correctly priced, and explores who trades the stocks of these firms, and why. Our sample consists of firms that enter into Chapter 11 and remain listed on the NYSE, AMEX, and NASDAQ post-filing. We show that these stocks are heavily traded...
