Debt Enforcement Around the World
We present insolvency practitioners from 88 countries with an identical case of a hotel about to default on its debt, and ask them to describe in detail how...
Read moreWe present insolvency practitioners from 88 countries with an identical case of a hotel about to default on its debt, and ask them to describe in detail how...
Read moreBond workouts are a famously dysfunctional method of debt restructuring, ridden with opportunistic and coercive behavior by bondholders and bond...
Read moreThis essay sheds new light on the importance of credit creation infrastructure in determining who actually receives government support during periods...
Read moreUsing data on the universe of US-based mutual funds, we find that two out of five fund families hold corporate bonds of firms in which they also own an equity...
Read moreWe use an important legal event as a natural experiment to examine the effect of management fiduciary duties on equity-debt conflicts. A 1991 Delaware...
Read moreWith a hand-collected set of 545 debtor-in-possession (DIP) loan facilities, 2002-2019, we show that these short-term loans are highly...
Read moreWe study the impact of underwriter competition on corporate bond contracts. We develop a new measure of underwriter power and a novel empirical...
Read moreA corporate bond market is thought to play an important role as a supplement to bankoriented financial systems in emerging markets ? functioning in...
Read moreExisting theories of debt consider a single contractible performance measure ("output''). In reality, other performance signals are available. It...
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