There are few things more constant in life than the rise and fall of financial markets. When markets crash, however, we are forced to restore them while learning from our mistakes. In the wake of the recent subprime mortgage crisis, Congress has drastically but deservedly overhauled the...

This is a chapter for the forthcoming book in West Publishing Company's Inside the Minds Series focusing on Financial Services Enforcement and Compliance (published by Aspatore Books). This chapter provides an overview of nature and current state of the markets for the equity side and debt...

We propose a two-step filtering process using interest coverage ratio and default prediction models to measure the extent of “zombieism” globally: a phenomenon that describes the existence of companies that are insolvent but continue to survive due to unusual market conditions, financial...

Recent evidence suggests that private firms in the United Kingdom rely heavily on debt financing, have leverage ratios significantly higher than their public counterparts, and their access to external sources of capital remains limited. We extend these findings by examining the implications of...

Constructing a novel database on the real estate holdings of public firms, we show that distressed firms sell their real estate assets at a discount relative to healthy firms. We find that distress discount in real estate assets is less pronounced for sellers with less liquidity-constrained...

Non- Performing Loans (NPLs) are the major sources of risk for any lending institution. At present, NPL ratio of State-Owned Commercial Banks (SCBs) of Bangladesh is well beyond comfortable level. This paper examines firm-characteristics and corporate governance measures as the firm-specific...

The financial distress of state-owned enterprises (SOEs) has become the main focus of numerous researchers due to the ongoing financial burden on the state and their inability to secure independent funding. The purpose of this study is to investigate the variables that affect the financial...

The contribution of the Central Public Sector Enterprises (CPSEs) in Indian economy is significant. The CPSEs are proclaimed towards gaining control over the commanding heights of the nation and promoting critical development in terms of the social gains, strategic value and resources. This...