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Bankruptcy Decisionmaking

Bankruptcy Decisionmaking
Author: Edward R. Morrison
Publisher:
Total Pages: 61
Release: 2008
Genre:
ISBN:
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Over half of all small businesses reorganizing under Chapter 11 of the U.S. Bankruptcy Code are ultimately liquidated. Little is known about this shutdown decision and about the factors that increase or reduce the amount of time a firm spends in bankruptcy. It is widely suspected, however, that the Chapter 11 process exhibits a quot;continuation bias,quot; allowing non-viable firms to linger under the protection of the court. This paper tests for the presence of continuation bias in the docket of a typical bankruptcy court over the course of a calendar year. A variety of tests are employed, including the extent to which entrenched managers dominate the bankruptcy process, the accuracy and speed with which viable and nonviable firms are distinguished, and the extent to which the hazard of shutdown is consistent with the implications of a simple, formal model of the optimal Chapter 11 process. Contrary to conventional wisdom, the paper finds that continuation bias is either absent or empirically unimportant.

Bankruptcy Decision-making

Bankruptcy Decision-making
Author: Edward Rust Morrison
Publisher:
Total Pages: 256
Release: 2003
Genre: Bankruptcy
ISBN:
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Optimal Consumption and Investment with Bankruptcy

Optimal Consumption and Investment with Bankruptcy
Author: Suresh P. Sethi
Publisher: Springer Science & Business Media
Total Pages: 434
Release: 2012-12-06
Genre: Business & Economics
ISBN: 1461562570
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This book presents papers on continuous-time consumption investment models by Suresh Sethi and various co-authors. Sir Isaac Newton said that he saw so far because he stood on the shoulders of gi ants. Giants upon whose shoulders Professor Sethi and colleagues stand are Robert Merton, particularly Merton's (1969, 1971, 1973) seminal papers, and Paul Samuelson, particularly Samuelson (1969). Karatzas, Lehoczky, Sethi and Shreve (1986), henceforth KLSS, re produced here as Chapter 2, reexamine the model proposed by Mer ton. KLSS use methods of modern mathematical analysis, taking care to prove the existence of integrals, check the existence and (where appro priate) the uniqueness of solutions to equations, etc. KLSS find that un der some conditions Merton's solution is correct; under others, it is not. In particular, Merton's solution for aHARA utility-of-consumption is correct for some parameter values and not for others. The problem with Merton's solution is that it sometimes violates the constraints against negative wealth and negative consumption stated in Merton (1969) and presumably applicable in Merton (1971 and 1973). This not only affects the solution at the zero-wealth, zero-consumption boundaries, but else where as well. Problems with Merton's solution are analyzed in Sethi and Taksar (1992), reproduced here as Chapter 3.

Insolvency Timing and Managerial Decision-Making

Insolvency Timing and Managerial Decision-Making
Author: Frederik Drescher
Publisher: Springer Science & Business Media
Total Pages: 205
Release: 2013-09-25
Genre: Business & Economics
ISBN: 365802819X
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​Frederik Drescher addresses the timing of non-mandatory insolvency filings based on threatening illiquidity (§ 18 InsO) with the aim of a company's restructuring as an agency problem between owners and management. The hypothesis of a tendency towards delayed insolvency filings, which was developed using a decision model, is experimentally confirmed. Moreover, the author analyzes different incentive instruments potentially leading to earlier insolvency filings.

Bankruptcy Protection

Bankruptcy Protection
Author: Keith Rossignol
Publisher:
Total Pages: 62
Release: 2012-06-17
Genre:
ISBN: 9781475252521
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IntroductionMy Dear Fellow Respected U. S. Citizens: As I put pen-to-paper herewith standing I hope this book will help educate you in your decisions by better understanding your rights pertaining to bankruptcy. So let's get started.To File Or Not To File Bankruptcy Protection Before taking into consideration bankruptcy protection you might consider talking to your creditors. They may work with you and resolve your account issues by accepting less payment or settling the account for a smaller amount, or both. It is always better to make an effort to discuss a possible settlement with a creditor, especially if you're only talking about a few financial accounts.They are companies that can do the negotiating for you if you feel you do not want to talk to the creditors; Personally I don't blame you, "it can be a hard thing to do".If you decide on such a third party service, beware of scams! Some companies advertise they will negotiate on your behalf, collect up-front money and monthly payments from you, so they might pay your creditors. I would stay away form companies that are advertising they are non-profit organizations and can reduce debt up to 50%. Some are legit others collect the monthly amount from you and do not pay your creditors. Just do some background checking like Better Business Bureau if you decide this is best for you. In my opinion, an attorney may do a better job and cost you far less. If you decide to negotiate with the creditors and can afford to pay them, you may not need to buy this book and avoid - bankruptcy.HOWEVER, if you discover you can no longer make payments to all or just some of your creditors, then protection from a bankruptcy might be for you.If you have to make a decision which to pay first the rent/ mortgage, utilities, food or credit card "which would come last, or not at all".Filing for bankruptcy maybe be the right decision for you.What do you think will happen if you're to say to a creditor "I'm filing bankruptcy protection"?Now What? I'll tell you what! You need to read this book!This book may help find an attorney "who may better advise you".This book may help you to "file the bankruptcy yourself".In short, this book may "help you make the right decisions"!

Bankruptcy Decision Making

Bankruptcy Decision Making
Author: Douglas G. Baird
Publisher:
Total Pages: 29
Release: 2001
Genre: Bankruptcy
ISBN:
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Bankruptcy, Credit, and You

Bankruptcy, Credit, and You
Author: William L. Silvers
Publisher:
Total Pages: 120
Release: 1995
Genre: Business & Economics
ISBN: 9780918751430
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Corporate Bankruptcy

Corporate Bankruptcy
Author: William J. Donoher
Publisher: Business Expert Press
Total Pages: 153
Release: 2012-07-20
Genre: Business & Economics
ISBN: 160649144X
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Corporate bankruptcy is becoming an increasingly important topic in today’s turbulent environment. The bankruptcy decision can be a matter of life and death for the organization dealing with distress, but the impact of the phenomenon is magnified by the variety of business relationships in which companies typically are involved. If you are considering or need to know more about bankruptcy, this book will help you through all the important steps. Since bankruptcy affects customers, supply chain or network partners, managerial and non-managerial employees, landlords, and others, understanding the bankruptcy process can facilitate best-practice development and the protection of the organization’s interests both before and after a bankruptcy petition. This book does not attempt to provide advice; each case is unique and should be addressed by competent legal counsel. Rather, you’ll be provided with an overview of the fundamental principles and processes of both Chapter 11 reorganizations and Chapter 7 liquidations, incorporating examples drawn from relevant legal decisions, research findings, and common experience to highlight the issues involved and provide a basis for discussion. The author also includes details on a number of special topic areas, including small business bankruptcies, governance issues, contractual agreements and obligations such as franchising and collective bargaining agreements, and newly emerging issues surrounding the use of derivatives.

Turnaround Management and Bankruptcy

Turnaround Management and Bankruptcy
Author: Jan Adriaanse
Publisher: Taylor & Francis
Total Pages: 450
Release: 2017-03-27
Genre: Business & Economics
ISBN: 1317572726
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Written by leading experts in the field of business, finance, law and economics, this edited volume brings together the latest thoughts and developments on turnaround management and business rescue from an academic, judiciary and turnaround/insolvency practitioner perspective. Turnaround Management and Bankruptcy presents different viewpoints on turnarounds and business rescue in Europe. Presenting a state-of-the-art review of failure research in finance, such as on bankruptcy prediction, causes of decline, or distressed asset valuation. It also presents the latest insights from turnaround management research as well as giving a contemporary insight into law debates on insolvency legislation reform, cross-border judicial issues, bankruptcy decision-making by judges and competition policy in distressed economies. Finally, the book provides a regional and sector perspective on how the current crisis affects Europe, its government policies and industry performance. In this way, the volume presents a modern, interdisciplinary and scholarly overview of the latest insights, issues and debates in turnaround management and business rescue, developing a European perspective in an attempt to redress the predominance of an American orientation in the academic literature. It aims at a wider audience interested in turnarounds and failure, such as faculty and students in the fields of law, business, economics, accountancy, finance, strategic management, and marketing, but also at judges, insolvency practitioners, lawyers, accountants and turnaround professionals, as well as the EU and government officials, staff of trade unions and employer’s associations.