search query: @freeterm restructuring / total: 15
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| Author: | Indro, D. C. Leach, R. T. Lee, W. Y. |
| Title: | Sources of gains to shareholders from bankruptcy resolution |
| Journal: | Journal of Banking and Finance
1999 : JAN, VOL. 23:1, p. 21-47 |
| Index terms: | Bankruptcy Companies Shareholders Models |
| Freeterms: | Restructuring |
| Language: | eng |
| Abstract: | Using a logistic regression model, the characteristics of firms whose shareholders are likely benefit from bankruptcy resolution is identified. That is, winners (or losers) are firms whose shareholders experience positive (or negative respectively) returns after bankruptcy filing. It is found that winners are relatively smaller firms with higher proportions of convertible debt, tend to file for bankruptcy for strategic reasons, have low share-ownership concentration, and suffer comparatively larger pre-filing stock price declines. |
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