Working Paper
Do Market Prices Improve the Accuracy of Court Valuations in Chapter 11?
The average difference between the court value and post-emergence market value of newly issued stocks in Chapter 11 reorganizations exceeds 50%. We...
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The real effects of ratings actions: Evidence from corporate asset sales
We investigate whether and through which channel credit rating downgrades induce corporate restructurings. For a comprehensive sample, we find a...
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Banks, Government Bonds, and Default: What do the Data Say?
We analyze holdings of public bonds by over 20,000 banks in 191 countries, and the role of these bonds in 20 sovereign defaults over 1998-2012. Banks hold...
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Who Benefits from Sustainability-linked Loans?
In recent years, there has been a significant increase in the issuance of sustainability-linked loans (SLLs), where loan contract terms depend on the...
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Prof. Curtis Milhaupt (Columbia Law School) presents his paper on "Bonded to the State: A Network Perspective on China’s Corporate Debt Market" at the 2016 GCGC Conference in Stockholm. Discussion of the paper is then presented by Prof. Li Jin (Guanghua School of Management Peking University).
13 June 2016
- Bondholders,
- China,
- Debt,
- GCGC