Similar Search Results

Asset-backed securities : costs and benefits of "bankruptcy remoteness"

Ayotte, Kenneth Michael; Gaon, Stav - In: The review of financial studies 24 (2011) 4, pp. 1299-1336

Persistent link: https://www.econbiz.de/10008989324

Bankruptcy and steel plant shutdowns

Rogers, Robert P. - In: The quarterly review of economics and finance : journal … 53 (2013) 2, pp. 165-174

Persistent link: https://www.econbiz.de/10009745243

Regulating the restructuring of the US steel industry : chapter 11 of the bankruptcy code and pension obligations

Clark, Gordon L. - In: Regional studies 25 (1991) 2, pp. 135-153

Persistent link: https://www.econbiz.de/10001103827

Financial markets and twentieth century industrialization : evidence from US and Canadian steel producers

Keay, Ian; Redish, Angela - 2002

Despite the diverse and developed nature of twentieth century U.S. and Canadian financial markets, the history of both economies is replete with claims of inefficiency and inadequacy among financial intermediaries, particularly the banking sectors. In Canada it has been argued that banks were...

Persistent link: https://www.econbiz.de/10001666697

Penalties and optimality in financial contracts : taking stock

Robe, Michel A. (contributor); … - 2006

A popular view of limited liability in financial contracting is that it is the result of societal preferences agnainst excessive penalties. the view of most financial economists is instead that limited liability emerged as an optimal institution when, in the absence of a clear limit on economic...

Persistent link: https://www.econbiz.de/10003324303

A dialogue on the costs and benefits of automatic stays for derivatives and repurchase agreements

Duffie, Darrell; Skeel, David - 2012 - Last rev.: March 04, 2012

For nearly two years, the two of us have had a running discussion of the costs and benefits of automatic stays in bankruptcy for qualified financial contracts (QFCs) such as derivatives and repurchase agreements, particularly those held by systemically important major dealer banks. Under current...

Persistent link: https://www.econbiz.de/10009504439

Equity capital, bankruptcy risk and the liquidity trap

Levintal, Oren - 2012

This paper explains the emergence of liquidity traps in the aftermath of large-scale financial crises, as happened in the US 1930s, Japan 1990s and recently in the US and Europe. The paper introduces a new balance sheet channel that links equity capital to the risk-free interest rate. When...

Persistent link: https://www.econbiz.de/10009535806

Private Equity and the Resolution of Financial Distress

Hotchkiss, Edith S. - 2020

We examine the role private equity (PE) firms play in the resolution of financial distress using a sample of 2,151 firms that borrow in the leveraged loan market between 1997 and 2010. Controlling for leverage, PE-backed firms are no more likely to default than other leveraged loan borrowers....

Persistent link: https://www.econbiz.de/10012857451

Scenario Analysis with the DD-PD Mapping Approach : Stock Market Shocks and U.S. Corporate Default Risk

Chan-Lau, Jorge A. - 2021

This paper introduces the quantile regression- based Distance-to-Default to Probability of Default (DD-PD) mapping, which links individual firms’ DD to their real world PD. Since changes in the DD depend on a handful of parameters, the mapping easily accommodates shocks arising from...

Persistent link: https://www.econbiz.de/10013222017

Are Female CEOs Associated With Lower Insolvency Risk? Evidence From the U.S. Property-Casualty Insurance Industry

Cheng, Jiang; Li, Jing - 2023

This paper investigates the relationship between female CEOs and insolvency risk of U.S. property-casualty insurance … companies. We show that female CEOs are associated with lower insurer insolvency propensity, higher z-score, and lower standard … difference-in-difference approach. Furthermore, we find that the impact of female CEOs on insurer insolvency risk is moderated by …

Persistent link: https://www.econbiz.de/10014349797

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