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financial economists. Capital structure theory is inevitably linked to several important empirical issues such as (a) the term …
Persistent link: https://www.econbiz.de/10011004681
This paper quantifies the “human costs of bankruptcy” by estimating employee wage losses induced by the bankruptcy filing of employers using employee-employer matched data from the U.S. Census Bureau’s LEHD program. We find that employee wages begin to deteriorate one year prior to...
Persistent link: https://www.econbiz.de/10010683679
We study to what extent firms spread out their debt maturity dates across time, which we call granularity of corporate debt. We consider the role of debt granularity using a simple model in which a firm's inability to roll over expiring debt causes inefficiencies, such as costly asset sales or...
Persistent link: https://www.econbiz.de/10010958706
less constrained firms. We provide empirical evidence consistent with this prediction. Our theory is consistent with the …
Persistent link: https://www.econbiz.de/10005058642
This study extends the works of Mauer and Sarkar (2005) and Andrikopoulos (2009) by incorporating a regime-dependent earnings-based bonus into managerial compensation. Examining the individual effects of ownership shares and earnings-based bonus compensation, we find that the former provides...
Persistent link: https://www.econbiz.de/10010599643
The goal of the scoring method is to provide predictive models for the assessment of the bankruptcy risk of an …
Persistent link: https://www.econbiz.de/10008855141
induced nonlinearities. We formulate the Ledenyov theory on the winning virtuous strategies creation toward the leveraged …
Persistent link: https://www.econbiz.de/10011107335
induced nonlinearities. We formulate the Ledenyov theory on the winning virtuous strategies creation toward the leveraged …
Persistent link: https://www.econbiz.de/10011111186
for the selected public/private companies. We formulate the Ledenyov theory on the winning virtuous strategies creation …
Persistent link: https://www.econbiz.de/10011156987
This paper examines the choice between two rights-preserving issue methods of seasoned equity offers in the UK as well as the factors determining the offer price and stock market announcement reactions.Firstly, equity issues in the UK are underwritten for different reasons than in other...
Persistent link: https://www.econbiz.de/10011090514