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Displaying results 1 to 3 of 3.

  1. The importance of reallocation for productivity growth
    evidence from European and US banking
    Author: Bos, Jaap W. B.; Santen, Peter C. van; Schilp, Paul
    Published: 2013

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 285 (2013,56)
    Inter-library loan:
    No inter-library loan
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: GSBE research memoranda ; 13/056
    Subjects: market structure; efficiency; restructuring; stochastic frontier; banking
    Scope: Online-Ressource (31 S.), graph. Darst.
  2. Do empty creditors matter?
    evidence from distressed exchange offers
    Author: Danis, András
    Published: 2013
    Publisher:  Institute of Economics, Hungarian Academy of Sciences, Budapest

    I examine the effect of credit default swaps (CDSs) on the restructuring of distressed firms. Theoretically, I show that if bondholders are insured with CDSs, the participation rate in a restructuring decreases. Using a sample of distressed exchange... more

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 151 (2013,34)
    Inter-library loan:
    No inter-library loan

     

    I examine the effect of credit default swaps (CDSs) on the restructuring of distressed firms. Theoretically, I show that if bondholders are insured with CDSs, the participation rate in a restructuring decreases. Using a sample of distressed exchange offers, I estimate that the participation rate is 29% lower if the firm has CDSs traded on its debt, compared to an unconditional mean of 54%. I use the introduction of the Big Bang protocol as a natural experiment. The results suggest that firms with CDSs find it difficult to reduce debt out-ofcourt, which is inefficient because it increases the likelihood of future bankruptcy.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Ebook
    Format: Online
    ISBN: 9786155243943
    Other identifier:
    hdl: 10419/108310
    Series: Discussion papers / Institute of Economics Hungarian Academy of Sciences ; 2013/34
    Subjects: credit default swaps; CDS; empty creditor; restructuring; bankruptcy
    Scope: Online-Ressource (61 S.), graph. Darst.
    Notes:

    Zsfassung in ungar. Sprache
  3. Recovery not fast enough?
    notes on speeding up
    Author: Patrón, Rossana
    Published: 2013
    Publisher:  School of Economics, Nottingham

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    Keine Speicherung
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Discussion papers in economics / School of Economics ; 13,06
    Subjects: training; labour mobility; restructuring; development
    Scope: Online-Ressource (9 S.), graph. Darst.