There is a well-known intuition linking prospect theory with the disposition effect, the tendency of investors to sell … extreme prediction where investors never voluntarily sell at a loss. We solve a model of asset liquidation where investors … Tversky and Kahneman (Tversky, A., D. Kahneman. 1992. Advances in prospect theory: Cumulative representation of uncertainty …

ownership structure have affected the likelihood of liquidation and bankruptcy of firms in Russia. We use a sample of 497 … long-term survival of firms in Russia, but that managerial ownership lowers the likelihood of both liquidation and …

’s liabilities due to the liquidation of available assets, at present, in Europe, legislation is no longer limited to measures to …

as bankruptcy, voluntary liquidation, mergers and acquisitions (M&A) differ. Our paper studies factors that influence the … firms in 2006-2012. We distinguish between (1) court driven exit as a result of bankruptcy or forced liquidation; (2 …) voluntary liquidation, (3) disappearances from the dataset as a result of mergers and acquisitions, and (4) termination based on …

to measure the costs and recovery rates in the Dutch liquidation-based bankruptcy system, and to investigate the …