Add to ORKGThis paper investigates the effect of bankruptcy announcements on the equity value of the bankrupt firm’s competitors. On average, bankruptcy announcements decrease the value of a value-weighted portfolio of competitors by 1%. This negative effect is significantly larger for highly levered industries and industries where the unconditional stock returns of the nonbankrupt and bankrupt firms are highly correlated: the effect is significantly positive for highly concentrated industries with low leverage, suggesting that in such industries competitors benefit from the difficulties of the bankrupt firm
This paper analyzes whether the financial distress of a firm affects the investment decisions of non...
In this article, we examine whether bad news on a company impacts on the correlations between the eq...
In this paper, we examine the behavior of stock prices of individual firms with different bond ratin...
Bankruptcy is a negative event that not only affects the company in question but all stakeholders of...
The main aim of the article is to determine how the bankruptcy filing announcement of a stock listed...
We examine the contagion, competitive, and direct effects of two significant events: (1) the Decembe...
This study shows that corporate bankruptcy events affect the investment and financing policies of ge...
This paper examines how a firm’s financial distress and the legal environment regarding the ease ofb...
The Lehman bankruptcy highlights the potential for interconnectedness to cause negative externalitie...
The paper finds that on average firms increase their cash holdings following the bankruptcy events ...
© 2015 INFORMS. This paper examines how a firm's financial distress and the legal environment regar...
On July 19, 2002 WorldCom sought protection from its creditors when it filed for Chapter 11 bankrupt...
Auditing standards require auditors to consider whether there is “substantial doubt” that their clie...
In this article, we examine whether bad news on a company impacts on the correlations betweenthe equ...
The corporate distress literature to date has largely focused on the predictive power of accounting ...
This paper analyzes whether the financial distress of a firm affects the investment decisions of non...
In this article, we examine whether bad news on a company impacts on the correlations between the eq...
In this paper, we examine the behavior of stock prices of individual firms with different bond ratin...
Bankruptcy is a negative event that not only affects the company in question but all stakeholders of...
The main aim of the article is to determine how the bankruptcy filing announcement of a stock listed...
We examine the contagion, competitive, and direct effects of two significant events: (1) the Decembe...
This study shows that corporate bankruptcy events affect the investment and financing policies of ge...
This paper examines how a firm’s financial distress and the legal environment regarding the ease ofb...
The Lehman bankruptcy highlights the potential for interconnectedness to cause negative externalitie...
The paper finds that on average firms increase their cash holdings following the bankruptcy events ...
© 2015 INFORMS. This paper examines how a firm's financial distress and the legal environment regar...
On July 19, 2002 WorldCom sought protection from its creditors when it filed for Chapter 11 bankrupt...
Auditing standards require auditors to consider whether there is “substantial doubt” that their clie...
In this article, we examine whether bad news on a company impacts on the correlations betweenthe equ...
The corporate distress literature to date has largely focused on the predictive power of accounting ...
This paper analyzes whether the financial distress of a firm affects the investment decisions of non...
In this article, we examine whether bad news on a company impacts on the correlations between the eq...
In this paper, we examine the behavior of stock prices of individual firms with different bond ratin...