Add to ORKGThe reaction of stock prices to bankruptcy filing has been frequently analysed in the financial literature. In this paper we adopt a different approach to that of traditional study, and endeavour to determine whether the reaction of markets is conditioned by the orientation of bankruptcy law. Our results lead us to conclude that it is actually the type of bankruptcy law that conditions the valuation of firm's stocks. We have also found that the drop in share value is greater in creditor-oriented systems, while the negative returns are lower in debtor-oriented systems.Corporate insolvency Financial restructuring processes Bankruptcy law Market valuation
This paper examines European bankruptcy codes and provides a comparison to US law and between them o...
Many bankruptcy codes implicitly or explicitly contain net-worth covenants, which provide the firm’s...
"Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics" by Dean Corbae and Pablo D'Eras...
In this paper, we examine the behavior of stock prices of individual firms with different bond ratin...
The reaction of equity returns before bankruptcy filings has been developed widely in financial lite...
This paper explores the various governance models for financially distressed firms. We offer a new t...
This study investigates whether the stock market differentiates between firms that file bankruptcy p...
Research in corporate restructuring argues that the risk of bankruptcy reduces firm value by the pre...
Courts in England and the United States have traditionally adopted different approaches to the quest...
The conditions derived by Bulow and Shoven concerning the circumstances under which a firm goes bank...
Courts in England and the United States have traditionally adopted different approaches to the quest...
Economic analysis is applied to bankruptcy law. Property right are reassigned in this court administ...
The law of corporate reorganizations is conventionally justified as a way to preserve a firm’s going...
International audienceThis paper extends the contingent claims analysis of Black-Scholes-Merton-Cox ...
Financial distress, bankruptcy law and the business cycle Abstract This paper explores the business ...
This paper examines European bankruptcy codes and provides a comparison to US law and between them o...
Many bankruptcy codes implicitly or explicitly contain net-worth covenants, which provide the firm’s...
"Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics" by Dean Corbae and Pablo D'Eras...
In this paper, we examine the behavior of stock prices of individual firms with different bond ratin...
The reaction of equity returns before bankruptcy filings has been developed widely in financial lite...
This paper explores the various governance models for financially distressed firms. We offer a new t...
This study investigates whether the stock market differentiates between firms that file bankruptcy p...
Research in corporate restructuring argues that the risk of bankruptcy reduces firm value by the pre...
Courts in England and the United States have traditionally adopted different approaches to the quest...
The conditions derived by Bulow and Shoven concerning the circumstances under which a firm goes bank...
Courts in England and the United States have traditionally adopted different approaches to the quest...
Economic analysis is applied to bankruptcy law. Property right are reassigned in this court administ...
The law of corporate reorganizations is conventionally justified as a way to preserve a firm’s going...
International audienceThis paper extends the contingent claims analysis of Black-Scholes-Merton-Cox ...
Financial distress, bankruptcy law and the business cycle Abstract This paper explores the business ...
This paper examines European bankruptcy codes and provides a comparison to US law and between them o...
Many bankruptcy codes implicitly or explicitly contain net-worth covenants, which provide the firm’s...
"Reorganization or Liquidation: Bankruptcy Choice and Firm Dynamics" by Dean Corbae and Pablo D'Eras...