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Different approaches to bankruptcy

Hart, Oliver - In: CESifo DICE Report 04 (2006) 1, pp. 3-8

Persistent link: https://www.econbiz.de/10011696570

Insolvency laws around the world - a statistical analysis and rules for their design

Claessens, Stijn; Klapper, Leora - In: CESifo DICE Report 04 (2006) 1, pp. 9-15

Persistent link: https://www.econbiz.de/10011696571

Bankruptcy and small business - lessons from the US and recent reforms

White, Michelle - In: CESifo DICE Report 04 (2006) 1, pp. 22-26

Persistent link: https://www.econbiz.de/10011696573

What is the Risk of European Sovereign Debt Defaults? Fiscal Space, CDS Spreads and Market Pricing of Risk

Aizenman, Joshua - 2011

We estimate the pricing of sovereign risk for sixty countries based on fiscal space (debt/tax; deficits/tax) and other economic fundamentals over 2005-10. We measure how accurately the model predicts sovereign credit default swap (CDS) spreads, focusing in particular on the five countries in the...

Persistent link: https://www.econbiz.de/10013120304

Hedge Funds as Liquidity Providers : Evidence from the Lehman Bankruptcy

Aragon, George O. - 2009

Using the September 15, 2008 bankruptcy of Lehman Brothers as an exogenous shock to funding costs, we show that hedge … funds act as liquidity providers. Hedge funds using Lehman as prime broker could not trade after the bankruptcy, and these …-connected hedge funds in turn experienced greater declines in market liquidity following the bankruptcy than other stocks; and, the …

Persistent link: https://www.econbiz.de/10013156424

Lessons Unlearned? Corporate Debt in Emerging Markets

Alfaro, Laura - 2017

This paper documents a set of new stylized facts about leverage and financial fragility for emerging market firms following the Global Financial Crisis (GFC). Corporate debt vulnerability indicators during the Asian Financial Crisis (AFC) attributed to corporate financial roots provide a...

Persistent link: https://www.econbiz.de/10012956372

How the Subprime Crisis Went Global : Evidence from Bank Credit Default Swap Spreads

Eichengreen, Barry - 2010

How did the Subprime Crisis, a problem in a small corner of U.S. financial markets, affect the entire global banking system? To shed light on this question we use principal components analysis to identify common factors in the movement of banks' credit default swap spreads. We find that fortunes...

Persistent link: https://www.econbiz.de/10012757524

Debt Enforcement Around the World

Djankov, Simeon - 2010

We present insolvency practitioners from 88 countries with an identical case of a hotel about to default on its debt, and ask them to describe in detail how debt enforcement against this hotel will proceed in their countries. We use the data on time, cost, and the likely disposition of the...

Persistent link: https://www.econbiz.de/10012760474

When is There a Strong Transfer Risk from the Sovereigns to the Corporates? Property Rights Gaps and CDS Spreads

Bai, Jennie - 2014

When a sovereign faces the risk of debt default, it may be tempted to expropriate the private sector. This may be one reason for why international investment in private companies has to take into account the sovereign risk. But the likelihood of a transfer from the sovereign risk to corporate...

Persistent link: https://www.econbiz.de/10013054883

Household Debt and Defaults from 2000 to 2010 : Facts from Credit Bureau Data

Mian, Atif R.; Sufi, Amir - 2021

We use individual level credit bureau data to document which individuals saw the biggest rise in household debt from 2000 to 2007 and the biggest rise in defaults from 2007 to 2010. Growth in household debt from 2000 to 2007 was substantially larger for individuals with the lowest initial credit...

Persistent link: https://www.econbiz.de/10013224359