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What should a distressed buyer’s sourcing strategy be? We find that this depends on the dynamics in a potential in-court bankruptcy. To establish causality, we use a novel sourcing data set in combination with a unique quasi-natural experimental setting provided by a regulatory shock that...
Persistent link: https://www.econbiz.de/10014359211
We estimate pre-bankruptcy shareholders' expected negotiating power using accounting information available at the bankruptcy filing. We find that the equity value on the day following the bankruptcy filing reflects theoretical determinants of priority violations. Specifically, the post-petition...
Persistent link: https://www.econbiz.de/10013110256
People who have lost their jobs are affected by the Covid-19 epidemic, which lowers demand and prevents them from updating daily used internet services. A company's deteriorating financial health may be a warning indication of impending financial trouble. With company size serving as a...
Persistent link: https://www.econbiz.de/10015046022
This document describes the development of a financial health indicator based on companies' financial statements. This indicator is conceived as a weighted combination of variables, which is obtained through a model discriminating between failing firms and non-failing firms. The definition of...
Persistent link: https://www.econbiz.de/10011596313
The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are …
Persistent link: https://www.econbiz.de/10010300002
Sanierungswege, z. B. das eigenverwaltete Schutzschirmverfahren vor der Insolvenz und die Eigenverwaltung während des …With the introduction of the ESUG law, German insolvency legislation was reformed in 2012. It offers new proceedings … for enterprise re-organisation, both before insolvency and between the application for insolvency and the start of the …
Persistent link: https://www.econbiz.de/10011818046
The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are …. -- Insolvenz ; Insolvenzplan ; Insolvenzverwalter ; Planinitiativrecht ; Gläubigerversammlung ; Entscheidungssituation ; Pre …-Packaged-Plan ; Eigenverwaltung ; insolvency ; bankruptcy code ; liquidation ; liquidator ; insolvency plan ; chapter 11 plan ; Pre-Packaged-Plan …
Persistent link: https://www.econbiz.de/10003948384
Upstream producers that possess market power, sell forwards with a lengthy duration to regional electricity companies (REC). As part of the liberalization of the electricity market, RECs have been privatized and exposed to a possible bankruptcy threat if spot prices have fallen below their...
Persistent link: https://www.econbiz.de/10003951795
coordination costs being positively related to pool size. Third, major determinants of pool formation are found to be the number of …
Persistent link: https://www.econbiz.de/10009767665
Creditors are increasingly transferring debt cash flow rights to other market participants while retaining control rights. We use the market for credit default swaps (CDSs) as a laboratory to show that such debt decoupling causes large adverse effects on firms whose shareholders have high...
Persistent link: https://www.econbiz.de/10011445695