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The standard measures of distress risk ignore the fact that firm defaults are correlated and that some defaults are more likely to occur in bad times. We use risk premium computed from corporate credit spreads to measure a firm’s exposure to systematic variation in default risk. Unlike...
Persistent link: https://www.econbiz.de/10011259646
The object of this chapter is to explain the decline of the law of contract in matter of bankruptcy. The historical … evolution of the law of bankruptcy shows that this decline is gone by three phases : the phase of the natural law based on the … this decline has been begun approach by the growth of the judicial machine in matter of bankruptcy and then by the climbing …
Persistent link: https://www.econbiz.de/10011108491
In this article, we develop the various theories which explain the determinants of the bankruptcy of the entrepreneur …, the bad luck and the capacity to evaluate the risk of bankruptcy of the entrepreneur. We wonder on the economic bases of …
Persistent link: https://www.econbiz.de/10011108784