more, which suggests that information asymmetries significantly contribute to switching costs. In line with banks … of distressed banks' closures. …

. We develop a repeated game in which banks come across each other frequently, allowing them to threaten a punishment in … case of free riding. As the number of lending banks grows, the chance of meeting again a bank and of being punished for … restructuring probability increases with the number of banks up to a threshold - three banks - beyond which coordination problems …

The moral hazard incentives of the bank safety net predict that distressed banks take on more risk and higher leverage … include financial crises and are subject to different regulatory regimes (1985–1994, 2005–2014). We find that distressed banks …

from banks to nonbanks, zombie firms file for bankruptcy at an elevated rate, suggesting that nonbanks' zombie lending does …We show that U.S. banks do not engage in zombie lending to firms of deteriorating profitability, irrespective of … for banks and nonbanks, and an empirical setting with quasirandom shocks to firm profitability. Although credit migrates …

The most recent round of state budget crises has resulted in calls to permit states to file for bankruptcy in order to … federal government and the states — and exacerbated by political agency problems. Accordingly, state bankruptcy proposals need … to be evaluated in political, rather than financial, terms.Bankruptcy can no more remake fiscal federalism than it can …

bankruptcy. Priority under existing bankruptcy law requires that these obligations be supported by property rights effective … outside bankruptcy. Section I identifies and rejects arguments that pension priority can be granted without property rights as … using these devices. A conclusion briefly describes revisions to the Bankruptcy Code that would allow pension priority, with …

We provide new evidence that the bankruptcy filing of a locally headquartered and publicly-listed manufacturing firm … yields for affected counties increase by 10 bps within a year of the firm’s bankruptcy filing. Counties that are more … impact of the corporate bankruptcy. Our results highlight that local communities are a major stakeholder in public firms and …

Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial … context of Croatia, which introduced a „pre-bankruptcy settlement“ (PBS) process in the wake of the Great Recession of 2007 … effectively delays entry into the standard bankruptcy procedure, leads to a lower rate of survival among debtors as well as …