the distribution probability of the shock, evaluate a bankruptcy risk and, at the second stage, firms are engaged in a … proportion of debt financed firms in the industry. By introducing an additionnal upstream stage to the game, we then examine how … debt financing impacts on incentives to merge with competitors. We demonstrate that a merger involving leveraged firms …

a measure of total wealth is above a certain threshold. In particular, a too large initial debt makes financial …

stabilizing public debt. A public sector of pollution abatement is financed by taxation and by issuing public debt. Considering a … debt-output ratio. …

This article aims to expand existing empirical knowledge on the impact of debt level on profitability of companies. We … 2006. By using the generalized method of moments (GMM), we show that the debt affects negatively the profitability, not …

Current study aims to provide new empirical evidence on the impact of debt on corporate profitability. This impact can … (GMM) econometric technique on three measures of profitability ratio (PROF1, PROF2 and ROA), we show that debt ratio has no …

Current study aims to provide new empirical evidence on the impact of debt on corporate profitability. This impact can … (GMM) econometric technique on three measures of profitability ratio (PROF1, PROF2 and ROA), we show that debt ratio has no …

problems. Debtors used bankruptcy law in order to minimize their debt level when facing difficulties in servicing it, but they …This paper is the first result of a project aiming at understanding the history of bankruptcy law from an empirical … the impact of bankruptcy law on national economic performance cannot be deducted a priori from a simple description of the …

We study the nature of judicial bias in bankruptcy proceedings following the enactment of bankruptcy law in Russia in … 1998. We find that regional political characteristics affected judicial decisions about the numbers and types of bankruptcy … bankruptcy; while the opposite was true in regions with high-quality judges. The effect of judicial quality on restructuring is …