![](images/graphics/blank.gif)
Recent evidence on the magnitude
-
Is bankruptcy costly? Recent evidence on the magnitude and determinants of indirect bankruptcy costs
In this study we estimate indirect bankruptcy costs for a recent sample of large corporate bankruptcies in the United States over the period, 1997 to 2004. We find indirect bankruptcy costs of approximately 2%, 6.2% and 14.9% of firm value in years -3, -2 and -1 relative to the year of bankruptcy announcement respectively. Together with the direct costs reported in Altman (1984), our results suggest total bankruptcy related costs around 6.09%, 9.71% and 17.43% of firm value over the corresponding three years.
30p
nguyenminhlong19
21-04-2020
8
1
Download
-
By analysing the risk of interbank contagion during two distinctive crises, namely the Finnish banking crisis in the 1990s and the most recent financial crisis of the 2000s, this paper provides evidence on negative domino effects in a small open economy with a concentrated banking system. Simulations based on interbank exposures and maximum entropy estimations shed light on the magnitude of the contagion and the vulnerability to cross-border risks.
21p
035522894
13-04-2020
17
2
Download
CHỦ ĐỀ BẠN MUỐN TÌM
![](images/graphics/blank.gif)