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, 2017 Some of the next articles are maybe not open access.
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COVID-19 and Corporate Finance
Social Science Research Network, 2022We distill evidence about the effects of COVID-19 on companies. Stock price reactions to the shock differed greatly across firms, depending on their resilience to social distancing, financial flexibility, and corporate culture. The same characteristics
M. Pagano, J. Zechner
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When Should Bankruptcy Law Be Creditor‐ or Debtor‐Friendly? Theory and Evidence
Journal of Finance, 2022We examine how creditor protection affects firms with different levels of owners’ and managers’ personal costs of bankruptcy. Theoretically, we show that firms with high personal costs of bankruptcy borrow and invest more under a more debtor-friendly ...
David Schoenherr, J. Starmans
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Social Science Research Network, 2023
In an RCT with US small businesses, we document that a large share of firms are not wellinformed about bankruptcy. Many assume that bankruptcy necessarily entails the death of a business and do not know about Chapter 11 bankruptcy, where debts are ...
Shai Bernstein +3 more
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In an RCT with US small businesses, we document that a large share of firms are not wellinformed about bankruptcy. Many assume that bankruptcy necessarily entails the death of a business and do not know about Chapter 11 bankruptcy, where debts are ...
Shai Bernstein +3 more
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Trucks without Bailouts: Equilibrium Product Characteristics for Commercial Vehicles
The American Economic Review, 2018The entry and exit of products, rather than firms, serve as the main equilibrating force in many markets, so accurately predicting changes from a merger or bankruptcy should incorporate this behavior.
Thomas G. Wollmann
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Stretch or Suppress: Role of Owners and Nominee Directors in Financial Distress
Journal of Emerging Market Finance, 2023This study investigates the effect of various firm-level corporate governance mechanisms on the likelihood of financial distress in India. We analyze the competing hypotheses of interest alignment and agency theory, examining how controlling shareholders
Swechha Chada, Sumit Banerjee
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Journal of Emerging Technologies in Accounting, 2023
Blockchain and cloud computing continue to emerge and evolve as important technologies for data management. This has strategic implications for data stored in enterprise resource planning (ERP) systems.
S. Lambert, Bruce I. Davidson, S. LeMay
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Blockchain and cloud computing continue to emerge and evolve as important technologies for data management. This has strategic implications for data stored in enterprise resource planning (ERP) systems.
S. Lambert, Bruce I. Davidson, S. LeMay
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The Review of financial studies
This paper studies how a borrower issues long- and short-term debt in response to shocks to the fundamental value. Short-term debt protects creditors from future dilution and incentivizes the borrower to reduce leverage after small negative shocks ...
Yunzhi Hu, Felipe Varas, Chao Ying
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This paper studies how a borrower issues long- and short-term debt in response to shocks to the fundamental value. Short-term debt protects creditors from future dilution and incentivizes the borrower to reduce leverage after small negative shocks ...
Yunzhi Hu, Felipe Varas, Chao Ying
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Price Rigidities and Credit Risk
Social Science Research NetworkWe develop a capital structure model in which firms feature differential flexibility in adjusting output prices. Inflexible-price firms have lower profits and higher cash flow volatility, leading in equilibrium to lower financial leverage, shorter debt ...
Patrick Augustin +3 more
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The Review of Corporate Finance Studies
I study how firms adjust leverage, debt maturity, and cash to manage profitability shocks, and show that time variation in concentration of maturity dates arises endogenously.
Maria Chaderina
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I study how firms adjust leverage, debt maturity, and cash to manage profitability shocks, and show that time variation in concentration of maturity dates arises endogenously.
Maria Chaderina
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