Results 131 to 140 of about 15,112 (311)
Willingness to pay and the sovereign debt contract [PDF]
This paper uses a contract theory model to argue that covenants ruling debt renegotiations are important to assure the sovereign willingness to pay. The model includes the following features: first, collective action clauses, exit consents, aggregation ...
Roque B. Fernández +1 more
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Human Resource Management, EarlyView.ABSTRACT The present study examined factors predicting employee participation in employee stock purchase plans (ESPPs). Despite the plausible benefits of ESPPs for participating employees, many employees do not participate in ESPPs even when they are eligible.
Joo Hun Han +4 more
wiley +1 more source
Sustainable plans and debt [PDF]
This paper presents a simple general equilibrium model of optimal taxation similar to that of Lucas and Stokey (1983), except that we let the government default on its debt.
V.V. Chari, Patrick J. Kehoe
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Holding out on restructuring negotiations: A legal analysis over Finnish and Swedish legislation
International Insolvency Review, EarlyView.Abstract This article examines how Finnish and Swedish restructuring laws create opportunities for creditors to hold out on restructuring negotiations. Using Anthony Casey's new bargaining theory and the traditional creditors' bargain model as analytical frames, the study argues that holdouts arise when ex ante rights – particularly security interests,
Anssi Kärki
wiley +1 more source
Lending to the borrower from hell: Debt and default in the age of Philip II, 1556-1598 [PDF]
What sustained borrowing without third-party enforcement, in the early days of sovereign lending? Philip II of Spain accumulated towering debts while stopping all payments to his lenders four times.
Joachim Voth, Mauricio Drelichman
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International Insolvency Review, EarlyView.Abstract This paper conducts a comparative legal analysis of corporate restructuring frameworks in England and Bhutan, examining their capacity to integrate climate variability considerations and promote sustainable business practices. It discusses the procedural mechanisms for restructuring financially distressed enterprises available under the law of
Eugenio Vaccari, Migmar Lham
wiley +1 more source
Supersanctions and Sovereign Debt Repayment [PDF]
Theoretical models have suggested that sanctions may be important for enforcing sovereign debt contracts (Bulow and Rogoff, 1989a, 1989b). This paper examines the role of sanctions in promoting debt repayment during the classical gold standard period. We
Marc D. Weidenmier, Kris James Mitchener
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International Insolvency Review, EarlyView.Abstract Although a local experiment, the promulgation of the Regulations of Shenzhen Special Economic Zone on Personal Bankruptcy (SPBR) in 2020 was hailed as a significant milestone in China's insolvency lawmaking which has thus far addressed only corporate insolvencies.
Jenny Fu, Jin Chun
wiley +1 more source
Nominal versus Indexed Debt: A Quantitative Horse Race [PDF]
The main arguments in favor and against nominal and indexed debt are the incentive to default through inflation versus hedging against unforeseen shocks. We model and calibrate these arguments to assess their quantitative importance.
Laura Alfaro, Fabio Kanczuk
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Subordination of related party claims in insolvency: A suggestive framework for Asian regimes
International Insolvency Review, EarlyView.Abstract Related party loans, due to their inherent nature, warrant a higher threshold for scrutiny when compared to loans extended by unrelated parties. Why were these monies advanced as loans, carrying higher priority in insolvency, rather than being invested as share capital?
Aditya Jain, Dhanya Jha, Rebecca Parry
wiley +1 more source