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The COVID-19 impact on corporate leverage and financial fragility

Haque, Sharjil Muktafi; Varghese, Richard - 2021

We study the impact of the COVID-19 recession on capital structure of publicly listed U.S. firms. Our estimates suggest leverage (Net Debt/Asset) decreased by 5.3 percentage points from the pre-shock mean of 19.6 percent, while debt maturity increased moderately. This de-leveraging effect is...

Persistent link: https://www.econbiz.de/10012796218

Financial Distress and Macroeconomic Risks

Athreya, Kartik; Mather, Ryan; Mustre-del-Rio, Jose; … - 2021

The goal of this paper is to show that household-level financial distress (FD) varies greatly, meaning there is unequal exposure to macroeconomic risk, and that FD can increase macroeconomic vulnerability. To do this, we first establish three facts: (i) regions in the U.S. vary significantly in...

Persistent link: https://www.econbiz.de/10013322291

Endogenous debt maturity : liquidity risk vs. default risk

Manuelli, Rodolfo E.; Sanchez, Juan M. - 2018

Persistent link: https://www.econbiz.de/10011950510

Stock liquidity and default risk

Brogaard, Jonathan; Li, Dan; Xia, Ying - In: Journal of financial economics 124 (2017) 3, pp. 486-502

Persistent link: https://www.econbiz.de/10011751480

Cash Holding, Rollover Risk and M&A

Chen, Zhiyao; Hackbarth, Dirk; Harford, Jarrad; Luo, Yuxin - 2022

We develop a unified framework to connect cash holding, debt maturity and mergers and acquisitions. We provide empirical support for four internally consistent predictions: i) equity and debt values of highly distressed firms are more sensitive to cash reserve than those of healthy firms; ii)...

Persistent link: https://www.econbiz.de/10014236147

Insolvency prediction from fuzzy classification and financial projection

Castiblanco, Fabian; Sánchez Villamil, Deisy Nohemí; … - In: Fuzzy economic review : the review of the International … 26 (2021) 1, pp. 49-73

Persistent link: https://www.econbiz.de/10014490848

Industry specific financial distress modeling

Sayari, Naz; Simga-Mugan, Can - In: BRQ Business Research Quarterly 20 (2017) 1, pp. 45-62

This study investigates uncertainty levels of various industries and tries to determine financial ratios having the … in specified industries. Second, we use a method based on the concept of entropy to measure the level of uncertainty in … industries and also to single out the ratios that best reflect the uncertainty levels in specific industries. Finally, we conduct …

Persistent link: https://www.econbiz.de/10012118423

Quality assessment of fuzzy classification : an application to solvency analysis

Castiblanco, F.; Montero, J.; Rodríguez, J. T.; Gómez, D. - In: Fuzzy economic review : the review of the International … 22 (2017) 1, pp. 19-31

Persistent link: https://www.econbiz.de/10011894044

Analysing business failure processes

Flores-Jimeno, Rocío; Jimeno-García, Inmaculada - In: International journal of accounting and finance 9 (2019) 2/3/4, pp. 130-151

Persistent link: https://www.econbiz.de/10012249850

Financial traits of bankruptcy, empirical evidence from Bosnia and Herzegovina

Memic, Nedim; Memic, Deni - In: International journal of business performance … 21 (2020) 1/2, pp. 76-94

Persistent link: https://www.econbiz.de/10012204934