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Exit Through Exitus in Private Equity Buyouts
Hammer, Benjamin - 2015
We study the impact of PE firm and buyout characteristics on default probability employing a Cox proportional hazards model to a global sample of 5,093 buyouts between 1997 and 2012. Our results indicate that investments of generalists have lower default probability than those of specialists....
Persistent link: https://www.econbiz.de/10013025950
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How costly is corporate bankruptcy for top executives?
Eckbo, B. Espen; Thorburn, Karin S.; Wang, Wei - 2012
We examine chief executive officer (CEO) career and compensation changes for large firms filing for Chapter 11. One-third of the incumbent CEOs maintain executive employment, and these CEOs experience a median compensation change of zero. However, incumbent CEOs leaving the executive labor...
Persistent link: https://www.econbiz.de/10009625392
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Two new measures of bankruptcy efficiency
Brogi, Riccardo; Santella, Paolo - 2004
Persistent link: https://www.econbiz.de/10002553393
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How large are Pre-Default Costs of Financial Distress? Estimates from a Dynamic Model
Elkamhi, Redouane - 2020
We estimate the costs of financial distress prior to default (pre-default costs) separately from the loss incurred at … default (the loss given default) using a dynamic trade-off model of capital structure. We document that pre-default costs are … on average equal to 6.5% of firm value per year. We show that pre-default costs account for a large fraction of total …
Persistent link: https://www.econbiz.de/10012839730
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Multiple lenders and corporate distress : evidence on debt restructuring
Brunner, Antje; Krahnen, Jan Pieter - 2006 - This version: June 2006
coordination costs being positively related to pool size. Third, major determinants of pool formation are found to be the number of …
Persistent link: https://www.econbiz.de/10009767665
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An Empirical Study of the Returns on Defaulted Debt and the Discount Rate for Loss-Given-Default
Jacobs, Michael - 2010
Persistent link: https://www.econbiz.de/10013152416
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Financial Costs of Judicial Inexperience : Evidence from Corporate Bankruptcies
Iverson, Benjamin Charles - 2020
Exploiting the random assignment of corporate bankruptcy filings, we estimate financial costs of judicial inexperience …
Persistent link: https://www.econbiz.de/10012853293
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The Variability of Board Size Determinants : An Empirical Analysis
Ning, Yixi - 2018
associated costs and benefits for individual firms …
Persistent link: https://www.econbiz.de/10012911228
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Credit Default Swaps, Agency Problems, and Management Incentives
Lee, Jongsub - 2018
We show in a theoretical model that credit default swaps induce managerial agency problems through two channels: reducing the opportunity for managers to transfer value to equityholders from creditors via strategic default, and reducing the intensity of monitoring by creditors, which leads to...
Persistent link: https://www.econbiz.de/10012932017
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Benchmarking collateral of triple-a rated securities
Sarmiento, Camilo - In: Applied economics letters 27 (2020) 7, pp. 555-558
Persistent link: https://www.econbiz.de/10012205727