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Post-pandemic performance of micro, small and medium-sized enterprises : a self-organizing maps application
Martínez, Lisana B.; Scherger, Valeria; Orazi, Sofía - In: Cogent business & management 10 (2023) 3, pp. 1-13
This paper examines the post-pandemic performance of micro, small, and medium-sized firms using Self-Organizing Maps (SOMs), a type of Artificial Neural Network that groups patterns based on their similarities. The goal is to identify the key characteristics that enable firms to face market...
Persistent link: https://www.econbiz.de/10014505925
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Renegotiation in Debt Chains
Glode, Vincent - 2020
We develop a tractable model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing structure, which we refer to as a "debt chain", gives rise to externalities, as a lender's willingness to provide concessions to his...
Persistent link: https://www.econbiz.de/10012826524
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Bankruptcy and the COVID-19 crisis
Wang, Jialan; Yang, Jeyul; Iverson, Benjamin; Kluender, … - 2020
We examine the impact of the COVID-19 economic crisis on business and consumer bankruptcies in the United States using real-time data on the universe of filings. Historically, bankruptcies have closely tracked the business cycle and contemporaneous unemployment rates. However, this relationship...
Persistent link: https://www.econbiz.de/10012511297
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Pandemic Hope for Chapter 11 Financing
Skeel, David A. - 2021
The pandemic revealed that the increasing complexity of debtor’s capital structure could supply much-needed competition in the Chapter 11 financing market, as other inside lenders increasingly challenge a debtor’s favored inside lenders. After discussing the benefits of this surprising...
Persistent link: https://www.econbiz.de/10014361565
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COVID-19 Crisis, Bankruptcy Risk, and Transition Dynamics
Lamichhane, Sujan - 2021
The COVID-19 pandemic has pushed many firms to the edge of bankruptcy and revived concerns of a prolonged/deep recession. The government has introduced various policies to mitigate its economic impact. We build a continuous time heterogeneous agent model to study (i) corporate bankruptcy risks,...
Persistent link: https://www.econbiz.de/10013242060
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Coronavirus Crisis and Company Bankruptcies
Apevalova, Elena; Polezhaeva, Natalia - 2021
situation in the field of insolvency of companies. Assessments of the situation vary, and there are many reasons for this: the …
Persistent link: https://www.econbiz.de/10013216070
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Impact of financial constraints and financial distress on cash holdings
Bukalska, Elżbieta; Maziarczyk, Anna - In: International journal of management and economics 59 (2023) 1, pp. 13-31
The aim of the study is to examine the impact of financial constraints and financial distress on cash holdings, both in normal and crisis times. We collected the 4,406 firm-year observations of companies listed on the Warsaw Stock Exchange (WSE). Our research shows that companies maintain higher...
Persistent link: https://www.econbiz.de/10014310085
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Insolvency Risk of European SMEs during Pandemic
Kaya, Orcun - 2021
, this paper focuses on the insolvency risk of European SMEs and their access to finance around pandemic. We show that SME … insolvency risk increased, on average, by around 21% during the pandemic. Finding customers and the cost of production and labor … have contributed notably to SME insolvency risk around this period. Heightened insolvency risk results in deterioration in …
Persistent link: https://www.econbiz.de/10013238147
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Bankruptcy’s Role in the COVID-19 Crisis
Morrison, Edward R. - 2020
Policymakers have minimized the role of bankruptcy law in mitigating the financial fallout from COVID-19. Scholars too are unsure about the merits of bankruptcy, especially Chapter 11, in resolving business distress. We argue that Chapter 11 complements current stimulus policies for large...
Persistent link: https://www.econbiz.de/10012838039
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Bail-outs and Bail-ins are better than Bankruptcy : A Comparative Assessment of Public Policy Responses to COVID-19 Distress
Van Zwieten, Kristin - 2020
COVID-19 has severely disrupted the conduct of business around the globe. In jurisdictions that impose one or more ‘lockdowns', multiple sectors of the real economy must endure prolonged periods of reduced trading or even total shutdowns. The associated revenue losses will push many businesses...
Persistent link: https://www.econbiz.de/10012826218