This paper shows how a selection bias generates an apparent value reduction for firms that survive longer in the sample. We test our model on conglomerate...
In this essay, we propose a principled approach for government bailouts of critical/systemic firms who find themselves in COVID-19-induced financial...
This paper shows that the dynamics of Chapter 11 turn dramatically on the size of the business. The vast majority of the assets administered in Chapter 11...
We show that firms take more (but not necessarily excessive) risks when one of their directors experiences a corporate bankruptcy at another firm where...
We study the effects of a court decision granting creditors the power to force into bankruptcy corporate debtors whose liabilities exceed their assets...
Firms that buy assets in fire sales earn excess returns that are two percentage points higher than in regular acquisitions. The mechanism behind this...
Corporate bankruptcies constitute an important mechanism through which the economy rids itself of obsolete firms and allocates their constituent...Read more
Bond workouts are a famously dysfunctional method of debt restructuring, ridden with opportunistic and coercive behavior by bondholders and bond...Read more
Mark Roe and John Coates spoke with Harvard Law Today (HLT) about what could be done to lower the chances of a bankruptcy backlog and how other...Read more
In this paper, I discuss the rise and fall of regulatory competition in corporate insolvency law in the European Union. The rise is closely...Read more