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White, Michelle J. - In: Handbook of law and economics : volume 2, (pp. 1013-1072). 2007

Bankruptcy is the legal process whereby financially distressed firms, individuals, and occasionally governments resolve their debts. The bankruptcy process for firms plays a central role in economics, because competition drives inefficient firms out of business, thereby raising the average...

Persistent link: https://www.econbiz.de/10014023496

Determinants of the choice of formal bankruptcy procedure : an international comparison of reorganization and liquidation

Wang, Chien-an - In: Emerging markets finance & trade : a journal of the … 48 (2012) 2, pp. 4-28

Persistent link: https://www.econbiz.de/10009622277

Estimating firms' bank-switching costs

Liaudinskas, Karolis; Grigaitė, Kristina - 2021

We explore Lithuanian credit register data and two bank closures to provide a novel estimate of firms' bank-switching costs and a novel identification of the hold-up problem. We show that when a distressed bank's closure forced firms to switch, these firms started borrowing at lower interest...

Persistent link: https://www.econbiz.de/10012544446

Corporate valuation and risk of insolvency : binomial models as a means to capture the effects of insolvency

Friedrich, Tobias - In: Die Betriebswirtschaft : DBW 76 (2016) 6, pp. 521-543

Persistent link: https://www.econbiz.de/10011639947

Resolution of financial distress : a theory of the choice between Chapter 11 and workouts

John, Kose; Mateti, Ravi S.; Vasudevan, Gopala - In: Journal of financial stability 9 (2013) 2, pp. 196-209

Persistent link: https://www.econbiz.de/10009762431

Bankruptcy choice with endogenous financial constraints

Tamayo, Cesar E. - 2017

specify default, renegotiation and reorganization policies. Renegotiation entails a redistribution of social surplus, while … reorganization takes the form of enhanced creditor monitoring. Firms with better contract histories are less likely to default, but … monitoring is too costly, renegotiation leads to reorganization, which resembles actual bankruptcy practice. We calibrate the …

Persistent link: https://www.econbiz.de/10011673284