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Stock liquidity and default risk around the world

Nadarajah, Sivathaasan - 2020

We document the negative effect of stock liquidity on default risk for a sample of 46 countries. We further find that … shock that increases liquidity. The effect of liquidity on default risk is more pronounced in countries with poorer investor … impact of stock liquidity on default risk in international markets …

Persistent link: https://www.econbiz.de/10012854783

Financial Distress Prediction on Public Listed Banks in Indonesian Stock Exchange

Pasaribu, Rowland Bismark - 2017

A financial distress of company should be able anticipated smartly by its management to rerun the business without having any loss due to business failure. Thus, we need a model which could provide an early signal to company the probability of financial distress so that remedial efforts can be...

Persistent link: https://www.econbiz.de/10012942862

Bankruptcy Risk Among Indonesian Stock Exchange Listed Companies

Setiawan, Anton - 2020

Objective - This research analyses whether there was a change in bankruptcy risk of companies in Indonesia for the period between 2015–2018, during the first presidency period of Joko Widodo, when Indonesia experienced tremendous dynamic economic, political and technological change. Previous...

Persistent link: https://www.econbiz.de/10012842095

Distressed Firm Valuation : Reorganization Plan and Going-Concern Capital Value

Buttignon, Fabio - 2015

Distressed firm valuation is a very complicated subject that has involved corporate finance literature and practice since a long time. Despite the topic's relevance, contributions have been few and confined to stating only critical issues and proposing rather abstract solutions, seldom leading...

Persistent link: https://www.econbiz.de/10013027821

Equity Issuance of Distressed Firms

Park, James - 2015

Assuming benevolent managers, the debt-overhang problem suggests that distressed firms generally refrain from issuing equity. In contrast, agency theory predicts that distressed firm managers have strong self-interests to finance even deteriorating projects through equity issuance. This paper...

Persistent link: https://www.econbiz.de/10013038070

The Influence of Bankruptcy Law on Equity Value of Financially Distressed Firms : A European Comparative Analysis

Lopez-Gutiérrez, Carlos - 2009

The reaction of stock prices to bankruptcy filing has been frequently analysed in the financial literature. In this paper we adopt a different approach to that of traditional study, and endeavour to determine whether the reaction of markets is conditioned by the orientation of bankruptcy law....

Persistent link: https://www.econbiz.de/10013157226

Death on the stock exchange : the fate of the 1948 population of large UK quoted companies, 1948-2018

Meeks, Geoffrey; Whittington, Geoffrey - In: Business history 65 (2023) 4, pp. 679-698

Persistent link: https://www.econbiz.de/10014305822

The Altman ‘Z’ is ‘50’ and Still Young : Bankruptcy Prediction and Stock Market Reaction Due to Sudden Exogenous Shock

Poudel, Rajeeb - 2019

This study is motivated by the continuing popularity of the Altman Z-score as a measure of distress risk. Altman first introduced the ‘Z' score in 1968 and 50 years later it is still going strong as a means to predicting bankruptcy. During these 50 years, academicians have studied the...

Persistent link: https://www.econbiz.de/10012893618

Creditor Rights, Claims Enforcement, and Bond Performance in Merger and Aqcuisitions

Renneboog, Luc - 2017

This paper shows that country-level differences in creditor protection affect bond performance around cross-border M&A announcements. Using Eurobonds and a global sample of 1,100 cross-border M&As, we find that the bondholders of bidding firms respond more positively to deals that expose their...

Persistent link: https://www.econbiz.de/10012961171

Creditor Rights, Claims Enforcement, and Bond Returns in Mergers and Acquisitions

Renneboog, Luc - 2016

By means of an international sample of cross-border mergers and acquisitions (M&As) involving firms with outstanding Eurobonds from the US, Europe, and other countries around the world, we show that bond performance around M&A announcements is sensitive to cross-country differences in creditor...

Persistent link: https://www.econbiz.de/10012996646

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