acuerdos preconcursales para grandes empresas ; Traditionally, bankruptcy procedures in Spain have been lengthy and costly … processes that have nearly always (95%) resulted in the liquidation of the insolvent firm. These dysfunctions became apparent … with the large increase in bankruptcy filings during the crisis that started in 2008 and the ensuing congestion of the …

moral hazard and decreases with the effi ciency of fi rm liquidation following bankruptcy. …

circumstances, especially for firms with fewer positive NPV projects and higher liquidation values. When renegotiation is costless …

researched frictions: bankruptcy and transaction costs. It is the hope that by studying financial frictions in isolation, we may …

The creation of a market in bankruptcy claims is the single most important development in the bankruptcy world since … the Bankruptcy Code’s enactment in 1978. Claims trading has revolutionized bankruptcy by making it a much more market … on doctrinal issues or used claims trading as a touchstone for the “Great Normative Bankruptcy Debate” about whether …

We study the impacts of bankruptcy risk on the performance of market-based pollution control policies. In chapter one …, we concentrate on emissions trading markets. We find that firms that risk bankruptcy demand more permits than if they … were financially secure. Thus, bankruptcy risk in a competitive market for tradable permits causes an inefficient …

quantified on the date of transaction completion, serve as indicators of future transaction bankruptcy. The results of this paper … suggest that the effective federal funds rate is significantly and positively correlated with the bankruptcy of private equity … performed using two types of binary-response models, which predict the likelihood of the occurrence of bankruptcy, and a matched …

relationship between this secondary gift card market and the corporate bankruptcy risk of companies with gift cards listed on the … correlated to some forms of bankruptcy risk. Specifically, the gift cardholders act like unsecured creditors in terms of excess …