With a state preference model, we illustrate how differences in bankruptcy code across countries affect managerial incentives and firm value. We examine bankruptcy codes of the G-7 countries in some detail and tie differences to model outcomes. We substantiate the economic effect of these...

This paper examines prediction of U.S. bank failure with a probit model that uses bias-corrected technical efficiency estimated using bootstrap data envelopment analysis as the measure of management quality. The model is tested on a sample of failed and non-failed banks during the sub-prime...

This paper examines prediction of U.S. bank failure with a probit model that uses bias-corrected technical efficiency estimated using bootstrap data envelopment analysis as the measure of management quality. The model is tested on a sample of failed and non-failed banks during the sub-prime...