Do bankrupt firms impose negative externalities on their non-bankrupt competitors? We propose and analyze a collateral channel in which a firm's bankruptcy reduces collateral values of other industry
The time it takes to resolve business insolvencies has been gradually decreasing over the last two decades, with the global average time to resolution sitting at 2.47 years in 2019. This compares to a
This paper revisits the proposal to use options in corporate bankruptcy that was put forward in Bebchuk (1988). According to the proposed procedure, corporate bankruptcy should be implemented through
Estimates of aviation effective radiative forcing (ERF) indicate that contrail cirrus is currently its largest contributor, although with a substantial associated uncertainty of...
