haku: @author Leach, R. T. / yhteensä: 2
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| Tekijä: | Indro, D. C. Leach, R. T. Lee, W. Y. |
| Otsikko: | Sources of gains to shareholders from bankruptcy resolution |
| Lehti: | Journal of Banking and Finance
1999 : JAN, VOL. 23:1, p. 21-47 |
| Asiasana: | Bankruptcy Companies Shareholders Models |
| Vapaa asiasana: | Restructuring |
| Kieli: | eng |
| Tiivistelmä: | 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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