نتایج جستجو برای: bankruptcy costs

تعداد نتایج: 180142  

2005
Rajna Gibson Suresh M. Sundaresan

We model sovereign debt in the absence of a bankruptcy code. Threat of trade sanctions and seizure of exports by the lenders are the drivers of enforcement of sovereign debt contracts.The borrower takes these potential actions into account when choosing optimal voluntary default and debt capacity. We obtain a closedform solution for the sovereign yield spreads that depend on the costs of sancti...

Nader Khedri

The aim of this study is to investigate the effects of corporate governance mechanisms in preventing the bankruptcy of companies listed in Tehran Stock Exchange. For this purpose, corporate governance mechanisms, including institutional ownership, non-executive members of the board, CEO dual responsibility and free float stock are determined as independent variables and Bankruptcy based on the ...

2015
Jérôme P. Taillard

Article history: Received 24 November 2011 Received in revised form 9 August 2013 Accepted 13 August 2013 Available online 27 August 2013 I study firmswith past asbestos ties that suffer from significant increases in legal liabilities after a U.S. Supreme Court ruling in 1999. This event provides a natural experiment setting to estimate the indirect effects of financial distress on real activit...

2015
Nicos Koussis Spiros H. Martzoukos Lenos Trigeorgis

We examine firm valuation with optimal liquidity (retained earnings) and dividend choice under revenue uncertainty that incorporates debt financing and bankruptcy costs. We revisit the conditions for dividend policy irrelevancy and the role of retained earnings and dividends. Retained earnings have a net positive impact on firm value in the presence of growth options, high external financing co...

Emergence of banking crises in recent decades, has shown the deficiency of bankruptcy regulation to deal with this type of business. So Legislators around the world following certain rules have begun to reduce its adverse effects. Factors such as Systematic risk of the public trust in the banking system, particular role of banks in the financial system, priority of  preserving the integrit...

Journal: :Math. Meth. of OR 2002
Mark Voorneveld Sofia Grahn

A class of cooperative games arising from shortest path problems is deened. These shortest path games are shown to be totally balanced and allow a population-monotonic allocation scheme. Possible methods for obtaining core elements are indicated; rst, by relating to the allocation rules in taxation and bankruptcy problems, second, by constructing an explicit rule that takes opportunity costs in...

2017
Bishal Gyawali

Financial toxicity of cancer treatment is now a well-recognised problem in cancer medicine leading to patient bankruptcy and even poor survival, including in high-income countries and countries with public health care systems. Many oncologists, despite acknowledging the severity of financial toxicity as a problem, resign the responsibility of reducing the costs of cancer treatment to the govern...

2012
Andrea Caggese Vicente Cuñat

We present a dynamic model in which firms accumulate wealth to avoid bankruptcy and to overcome financing constraints that affect their fixed operational costs and the costs of becoming an exporter. Financing constraints not only affect firms directly when they are binding, but also indirectly, through precautionary saving and the selection of firms via entry and exit of the domestic and export...

2004
Amrit Judge Paul Dunne Ephraim Clark Brian Eales Alex Rebmann Nick Robinson

This paper empirically tests the determinants of foreign currency hedging using a large sample of UK non-financial firms. I find, unlike similar studies using US data, strong evidence of a relationship between expected financial distress costs and the foreign currency hedging decision and more significantly the foreign currency only hedging decision. This contrast in the findings between this s...

Mohammad Reza Shahraki Mohsen Hajiamiri Seyyed Masoud Barakati,

The bankruptcy prediction models have long been proposedas a key subject in finance. The present study, therefore, makes aneffort to examine the corporate bankruptcy prediction through employmentof the genetic algorithm model. Furthermore, it attempts to evaluatethe strategies to overcome the drawbacks of ordinary methods forbankruptcy prediction through application of genetic algorithms. Thesa...

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