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This paper focuses on market discipline as a necessary condition to preserve the signaling content of balance sheet indicators and market prices as macroprudential tools. It argues that market discipline enhances the information content of market prices by reflecting the expected private cost of...
Persistent link: https://www.econbiz.de/10012529572
acuerdos preconcursales para grandes empresas ; Traditionally, bankruptcy procedures in Spain have been lengthy and costly … processes that have nearly always (95%) resulted in the liquidation of the insolvent firm. These dysfunctions became apparent … with the large increase in bankruptcy filings during the crisis that started in 2008 and the ensuing congestion of the …
Persistent link: https://www.econbiz.de/10012530510
moral hazard and decreases with the effi ciency of fi rm liquidation following bankruptcy. …
Persistent link: https://www.econbiz.de/10012533086
The direct and indirect costs of suspected human rabies exposure were estimated for San Luis Obispo and Santa Barbara counties, California, USA. Clinic, hospital, and county public health records (1998-2002) were examined to determine direct costs for postexposure prophylaxis (PEP), and 55 (41%)...
Persistent link: https://www.econbiz.de/10009429469
Determining the cost-bearers takes place according to the physical form of the production and the requirements of the calculation method. In this sense, we could choose between the synthetic calculation methods using a single expense-bearer and analytical calculation methods implying the...
Persistent link: https://www.econbiz.de/10009446004
circumstances, especially for firms with fewer positive NPV projects and higher liquidation values. When renegotiation is costless …
Persistent link: https://www.econbiz.de/10009441096
researched frictions: bankruptcy and transaction costs. It is the hope that by studying financial frictions in isolation, we may …
Persistent link: https://www.econbiz.de/10009439043
In this dissertation, I try to advance our understanding of how managerial discretion and corporate financial flexibility affect various corporate outcomes such as failure, excessive (sub-optimal) continuation, firm growth and investment, in three novel ways. First, I show that the empirical...
Persistent link: https://www.econbiz.de/10009455300
Several recent papers have documented the benefits of debtor-in-possession (DIP) financing in the restructuring of firms in Chapter 11. However, the view on benefits is not unanimous and some legal scholars have raised doubts about DIP financing's effects on debt-holders and the possibility of...
Persistent link: https://www.econbiz.de/10009459019
Against a background of greater competition, market saturation and falling margins over the past decade UK banks have sought greater efficiencies in credit and risk assessment procedures, especially with personal lending products. In the same way they have attempted to reduce costs associated...
Persistent link: https://www.econbiz.de/10009461193