theory, leverage acquisition is subject to the presence of fixed assets which can be used as collateral. The current study …Studies indicate that a consistent rise in insolvency risk should be addressed at the strategic level. Vigilant boards … can use leverage maturity structure as a tool to control insolvency risk. However, according to the information asymmetry …

In this study we estimate indirect bankruptcy costs for a recent sample of large corporate bankruptcies in the United … States over the period, 1997 to 2004. We find indirect bankruptcy costs of approximately 2%, 6.2% and 14.9% of firm value in … years -3, -2 and -1 relative to the year of bankruptcy announcement respectively. Together with the direct costs reported in …

completion of the common phase. We apply the agency theory to explain how insolvency administrators and court characteristics … Spanish insolvency law. This work focuses on the phase starting when companies file for bankruptcy and ending with the … likely to result in reorganization if they are handled by specialized courts, managed by the Big 4, and if the insolvency …

analysis further reveals that the return on sales and the selling, general and administrative costs are the most impactful …