Eberhart, Allan C; Moore, William T; Roenfeldt, Rodney L - In: Journal of Finance 45 (1990) 5, pp. 1457-69
Claims ultimately awarded to shareholders of firms in reorganization were examined for a sample of thirty filings under the 1978 Bankruptcy Reform Act. The authors measured the amount paid to shareholders in excess of that which they would have received under the absolute priority rule and found...