haku: @author Datta, S. / yhteensä: 13
viite: 8 / 13
| Tekijä: | Datta, S. Iskandar-Datta, M. |
| Otsikko: | The information content of bankruptcy filing on security holders of the bankrupt firm: an empirical investigation |
| Lehti: | Journal of Banking and Finance
1995 : AUG, VOL. 19:5, p. 903-920 |
| Asiasana: | INFORMATION BANKRUPTCY COMPANIES |
| Kieli: | eng |
| Tiivistelmä: | This paper captures the information content of bankruptcy announcements on stockholders and three different classes of debtholders using daily excess returns. Significant negative stock price reaction to the filing announcement is documented. More interestingly, the secured debtholders are unaffected by the announcement. However, the unsecured and the convertible debt classes exhibit significant adverse price reaction. During the event period, the secured debt ground gains significantly while all other classes experience substantial losses. |
SCIMA