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Livshits, Igor; MacGee, James; Tertilt, Michèle - 2011

Financial innovations are a common explanation of the rise in consumer credit and bankruptcies. To evaluate this story, we develop a simple model that incorporates two key frictions: asymmetric information about borrowers' risk of default and a fixed cost to create each contract offered by...

Persistent link: https://www.econbiz.de/10010291903

Financial Risks, Bankruptcy Probabilities, and the Investment Behaviour of Enterprises

Kirchesch, Kai - 2004

repayment obligations and thus the risk of bankruptcy. If the risk of bankruptcy enters the profit maximization of the firm, the … cover a period of 12 years. The empirical results confirm the assumption that the risk of bankruptcy is an important … decisions of enterprises, or whether bankruptcy probabilities better account for these potential financial risks. …

Persistent link: https://www.econbiz.de/10010295432

Estimating probabilities of default with support vector machines

Härdle, Wolfgang Karl; Moro, Rouslan A.; Schäfer, Dorothea - 2007

This paper proposes a rating methodology that is based on a non-linear classification method, the support vector machine, and a non-parametric technique for mapping rating scores into probabilities of default. We give an introduction to underlying statistical models and represent the results of...

Persistent link: https://www.econbiz.de/10010295937

Bankruptcy and Voluntary Liquidation: Evidence for New Firms in East and West Germany after Unification

Prantl, Susanne - 2003

and West Germany, I find distinct education and size effects and a higher share of bankruptcy-related liquidations in East …

Persistent link: https://www.econbiz.de/10010297338

R&D and Firm Performance in a Transition Economy

Czarnitzki, Dirk; Kraft, Kornelius - 2006

We estimate the effects of R&D on firms' credit ratings and on financial distress. The main purpose is the comparison of firms in Western Germany and Eastern Germany as a transitional economy. Innovative activity has a positive impact on firm value proxied by ratings in Western Germany, but a...

Persistent link: https://www.econbiz.de/10010297541

Afterlife: Who Takes Heart for Restart?

Metzger, Georg - 2006

percent of novice entrepreneurs who file for bankruptcy reestablish afterwards. On average, slightly more than 15 months will …

Persistent link: https://www.econbiz.de/10010297546

Courts and sovereign eurobonds: Credibility of the judicial enforcement of repayment

Hallak, Issam - 2003

While focusing on the protection of distressed sovereigns, the current debate intended to reform the International Financial Architecture has hardly addressed the protection of creditors rights that varies among laws. I suspect however that this constitutes an essential determinant of the...

Persistent link: https://www.econbiz.de/10010298247

Stakeholder capitalism, corporate governance and firm value

Allen, Franklin; Carletti, Elena; Marquez, Robert - 2007

We consider the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers as well as shareholders compared to shareholderoriented firms. Societies with stakeholder-oriented firms have higher prices, lower output, and can have greater firm value...

Persistent link: https://www.econbiz.de/10010298375

Business closure and financial loss: Who foots the bill? Evidence from German small business closures

Metzger, Georg - 2010

This paper explores how different reasons for business closure impact the probability that financial loss will be suffered by creditors. Using German small business data, the study finds that business closure due to financial problems is strongly correlated with a likelihood of financial loss....

Persistent link: https://www.econbiz.de/10010300384

Bankruptcy Modelling of Indian Public Sector Banks: Evidence from Neural Trace

Ghosh, Bikramaditya - In: International Journal of Applied Behavioral Economics … 6 (2017) 2, pp. 52-65

bankruptcy. …

Persistent link: https://www.econbiz.de/10012042548

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