This paper proposes a method for valuing a firm's debt and equity that relies on readily-accessible current accounting … for taxes on a its economic profitability. We derive parsimonious expressions for the value of a firm's equity and debt in …

reorganization and (iii) strategic interactions between debt holders and equity holders. …

The valuation of debt and equity, reorganization boundaries and firm's The valuation of debt and equity, reorganization …. Two formulations of reorganization are presented: debt-equity swaps and strategic debt service resulting from negotiated … debt service reductions. Bond covenants lead to more conservative dividend policies which benefit both claimants via …