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In this paper we establish a relationship between the core cover of a compromise admissiblegame and the core of a particular bankruptcy game: the core cover of a compromiseadmissible game is, indeed, a translation of the set of coalitional stable allocations capturedby an associated bankruptcy...
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The primary purpose of this paper is to investigate whether companies can use acquisition as a strategy to reduce their probability of takeover. A subsidiary issue is whether such a strategy has any impact on their subsequent probability of bankruptcy. The determinants of making an acquisition,...
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on the structure of the legal framework. In this paper we analyze the influence of German insolvency law and tax regime … German insolvency plan procedure. We compare these results with those of options models proposed e.g. by Bebchuk or Aghion …/Hart/Moore. Finally, we introduce a 3-period example and show how insolvency procedure influences going concern value and the division of …
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