This paper exploits the insolvency announcement of Hanjin Shipping in 2016 to study the causal effects of supply chain disruptions on firm outcomes and sourcing behavior. This insolvency announcement stranded cargo in transit as ports refused to unload Hanjin vessels. Over 8,300 cargo owners and...

The Singapore Companies (Amendment) Act 2017 introduced the UNCITRAL Model Law on Cross Border Insolvency into Singapore law. It facilitated the recognition of cross-border insolvency processes in Singapore and introduced new legislative tools to rescue distressed companies. This article...

A generally accepted view is that sophisticated bankruptcy procedures are required to mitigate coordination failures and fire sale discounts arising from financial distress. In this paper, we study an industry not subject to mandatory bankruptcy procedures; instead, the shipping industry has...

This paper proposes a credit scoring model for the empirical assessment of default risk drivers of shipping bank loans. A unique dataset, consisting of the credit portfolio of a ship-lending bank is used to estimate a logit model with two-way clustered adjusted standard errors, ensuring robust...