theories that predict that asset protection in bankruptcy leads to a redistribution of credit …

that firms eliminate unproductive protection mechanisms previously set in place to contract around costly bankruptcy … secured creditor rights. This result suggests that a uniform bankruptcy infrastructure that balances positive and negative … effects of secured creditor rights is unsuited to be the optimal solution. Our finding rather points to a menu of bankruptcy …

report that listed SMEs enjoy a lower likelihood of financial distress and bankruptcy than their unlisted counterparts … unlisted SMEs due to changes in financial ratios. Due to the extremely low number of legal bankruptcy events, our hypothesis … finds weak support when bankruptcy is used as the dependent variable in the regression analysis. Broadly, our findings …

When contemplating Chapter 11, firms often need to seek financing for their continuing operations in bankruptcy …. Because such financing would otherwise be hard to find, the Bankruptcy Code authorizes debtors to offer sweeteners to debtor … important implications for bankruptcy policymakers and judges struggling to evaluate whether extraordinary DIP lending …