Due to investor relations sections placed on corporate websites shareholders have an access to current information on stock issuers’ activities. This enables investors to participate in discussions on decisions met by a board of a company. Transparent and comprehensible information should...

This article aims to investigate the web-based disclosure choices andpractices among Romanian companies listed on Bucharest Stock Exchange. Web-based disclosure offers advantages that are absent in paper-based voluntarydisclosure: it can be accessed globally at much lower costs and it can be...

This study examines the role of the Internet in the financial reporting practices of publicly traded Greek and Cypriot construction companies. Its key contribution is the development of a relevant index that is assessed against key business characteristics: profitability, leverage, audit firm...

Using firm-level balance sheet data for 20 of the 24 exchange companies in Pakistan for the period 2006–11, we explore the sources of firms’ vulnerability to short-term financing shocks. Based on the probability estimates of a maximum likelihood binary probit model, this paper shows that the...

This paper develops a model of debt renegotiation in a structural framework that accounts for taxes, bankruptcy costs and renegotiation costs. To our knowledge, all the previous work on debt renegotiation implies an infinite number of renegotiations. This feature preempts the analysis of the...

The Italian legislation has introduced several significant changes to Italian Bankruptcy Law. The amendments relate to the composition with creditors procedure, the debt restructuring agreements and the certified restructuring plans, thus introducing specific provisions to avoid situations of...

Many theories study how firms'cost of funding depends on reorganization and liquidation in bankruptcy. However empirical evidence on this subject is scarce due to the difficulty in interpreting reforms that change different legal instruments at the same time. We take advantage of the timing of...

In this paper, we examine the existence of a cross-monitoring effect between bank debt and public debt by exploring the effects that loan defaults have on the lead arranger's perceived monitoring ability in the public debt markets. Generating a sample of major loan defaults among U.S. firms...

The article looks at the financial situation of non-financial corporations in Belgium over the period from 1 January to 31 December 2011. After briefly describing the methodology and the population studied, it presents an extrapolation of the main operating result items for 2011. It then goes on...

The article looks at the financial situation of non-financial corporations in Belgium over the period from 1 January to 31 December 2013. After briefly describing the methodology and the population studied, it presents an extrapolation of the main operating result items for 2013, with a...