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The real costs of industry contagion
Garcia-Appendini, Emilia - 2014 - This draft: June 2014
This paper analyzes whether the financial distress of a firm affects the investment decisions of non-distressed competitors. On average, firms in distress impose indirect costs to non-distressed competitors by increasing costs of credit in the industry and hence restricting credit access and...
Persistent link: https://www.econbiz.de/10010410806
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The failure of Northern Rock : a multi-dimensional case study
Bruni, Franco (ed.); Llewellyn, David T. (ed.) - 2009
In August 2007 the United Kingdom experienced its first bank run in over 140 years. Although Northern Rock was not a particularly large bank (it was at the time ranked 7th in terms of assets) it was nevertheless a significant retail bank and a substantial mortgage lender. In fact, ten years...
Persistent link: https://www.econbiz.de/10011705347
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Debt recovery in firm liquidations : do liquidation trustees matter?
Cepec, Jaka; Grajzl, Peter; Zajc, Katarina - 2016
Insolvency systems play a crucial role in protection of creditor rights, yet micro-level empirical evidence on the … functioning of insolvency regimes worldwide is sparse. We investigate whether creditors' recovery of outstanding claims, a measure … of ex-post efficiency of an insolvency regime, depends on the characteristics of the trustee delegated the administration …
Persistent link: https://www.econbiz.de/10011518156
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The real effects of bank distress : evidence from bank bailouts in Germany
Bersch, Johannes; Degryse, Hans; Kick, Thomas; Stein, Ingrid - 2019
How does bank distress impact their customers' probability of default and trade credit availability? We address this question by looking at a unique sample of German firms from 2000 to 2011. We follow their firm-bank relationships through times of distress and crisis, featuring the different...
Persistent link: https://www.econbiz.de/10012108717
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Can asset reconstruction companies (ARCs) be part solution to the Indian debt problem?
Bhagwati, Jaimini; Khan, M. Shuheb; Bogathi, … - 2017
The Indian debt overhang issue is one of the major reasons that fresh investments are currently not being made in the scale required to promote higher growth and boost employment. Among banks the public sector banks (PSBs) are burdened with the bulk of net non-performing loans (NNPAs). These...
Persistent link: https://www.econbiz.de/10011638458
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How important is moral hazard for distressed banks?
Ben-David, Itzhak; Palvia, Ajay; Stulz, René M. - 2020
The moral hazard incentives of the bank safety net predict that distressed banks take on more risk and higher leverage. Since many factors reduce these incentives, including charter value, regulation, and managerial incentives, the net economic effect of these incentives is an empirical...
Persistent link: https://www.econbiz.de/10012216705
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In the wake of the crisis : dealing with distressed debt across the transition region
Haas, Ralph de; Knobloch, Stephan - 2010
judicial system. -- distressed debt ; insolvency ; financial crisis …
Persistent link: https://www.econbiz.de/10003928000
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Bank-firm relationships and the performance of non-financial firms during the financial crisis 2008 - 09 : microeconometric evidence from large-scale firm-level data
Abildgren, Kim; Buchholst, Birgitte Vølund; Staghøj, Jonas - 2011
Utilising a unique data set with annual accounts from around 37,000 Danish non-financial firms spanning one and a half decade or so, we offer microeconometric evidence on bankfirm relationships and the performance of non-financial firms during the financial crisis 2008-09. Two major conclusions...
Persistent link: https://www.econbiz.de/10009301082
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Home country versus cross-border negative externalities in barge banking organization failures and how to avoid them
Eisenbeis, Robert A. (contributor) - 2006
This paper examines the negative externalities that may occur when a large bank fails, describes the nature of those externalities, and explores whether they may be greater in a case involving a large cross-border banking organization. The analysis suggests that the chief negative externalities...
Persistent link: https://www.econbiz.de/10003730539
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Bankruptcy Exemption of Repo Markets : Too Much Today for Too Little Tomorrow?
Acharya, Viral V.; Anshuman, V. Ravi; Viswanathan, S. - National Bureau of Economic Research - 2024
We examine the desirability of granting "safe harbor" provisions to creditors of financial intermediaries in sale-and-repurchase (repo) contracts. Exemption from an automatic stay in bankruptcy enables financial intermediaries to raise greater liquidity and induces entry of intermediaries with...
Persistent link: https://www.econbiz.de/10014468227