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The cost and timing of financial distress

Elkamhi, Redouane; Ericsson, Jan; Parsons, Christopher A. - In: Journal of financial economics 105 (2012) 1, pp. 62-81

Persistent link: https://www.econbiz.de/10009622442

A resolution of the distress risk and leverage puzzles in the cross section of stock returns

George, Thomas J.; Hwang, Chuan-yang - In: Journal of financial economics 96 (2010) 1, pp. 56-79

Persistent link: https://www.econbiz.de/10003968037

Deposits and bank capital structure

Allen, Franklin; Carletti, Elena; Marquez, Robert - In: Journal of financial economics 118 (2015) 3, pp. 601-619

Persistent link: https://www.econbiz.de/10011480542

Asset liquidity, debt covenants, and managerial discretion in financial distress : the collapse of L. A. Grear

DeAngelo, Harry; DeAngelo, Linda; Wruck, Karen H. - In: Journal of financial economics 64 (2002) 1, pp. 3-34

Persistent link: https://www.econbiz.de/10001670861

Liquidation costs and capital structure

Alderson, Michael J. - In: Journal of financial economics 39 (1995) 1, pp. 45-69

Persistent link: https://www.econbiz.de/10001185910

Cash Holdings and Credit Risk

Acharya, Viral V. - 2011

Intuition suggests that firms with higher cash holdings are safer and should have lower credit spreads. Yet empirically, the correlation between cash and spreads is robustly positive and higher for lower credit ratings. This puzzling finding can be explained by the precautionary motive for...

Persistent link: https://www.econbiz.de/10013125920

Optimal Debt and Profitability in the Tradeoff Theory

Abel, Andrew B. - 2015

I develop a dynamic model of leverage with tax deductible interest and an endogenous cost of default. The interest rate includes a premium to compensate lenders for expected losses in default. A borrowing constraint is generated by lenders' unwillingness to lend an amount that would trigger...

Persistent link: https://www.econbiz.de/10013015555

Views on the Likelihood of Financial Crisis

Friedman, Benjamin M. - 2009

A review of major lines of thinking about developments in the 1980s bearing on the likelihood of a financial crisis in the United States supports four principal conclusions:First, financial crises have historically played a major role in large fluctuations in business activity. A financial...

Persistent link: https://www.econbiz.de/10013155886

Reorganization or Liquidation : Bankruptcy Choice and Firm Dynamics

Corbae, Dean - 2017

In this paper, we ask how bankruptcy law affects the financial decisions of corporations and its implications for firm … dynamics. According to current U.S. law, firms have two bankruptcy options: Chapter 7 liquidation and Chapter 11 reorganization … to include both bankruptcy options in a general equilibrium environment. Finally, we evaluate a bankruptcy policy change …

Persistent link: https://www.econbiz.de/10012953996

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