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A Normative Theory of Business Bankruptcy

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  • Alan Schwartz

    (Yale University)

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  • Alan Schwartz, "undated". "A Normative Theory of Business Bankruptcy," American Law & Economics Association Annual Meetings 1037, American Law & Economics Association.
    • Handle: RePEc:bep:alecam:1037
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    File URL: http://law.bepress.com/cgi/viewcontent.cgi?article=1037&context=alea
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    References listed on IDEAS

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    1. Philippe Aghion & Peter Howitt & David Mayer-Foulkes, 2005. "The Effect of Financial Development on Convergence: Theory and Evidence," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 120(1), pages 173-222.
    2. Philippe Aghion & Oliver D. Hart & John Moore, 1994. "The Economics of Bankruptcy Reform," NBER Chapters, in: The Transition in Eastern Europe, Volume 2, Restructuring, pages 215-244, National Bureau of Economic Research, Inc.
    3. Denis, David J. & Mihov, Vassil T., 2003. "The choice among bank debt, non-bank private debt, and public debt: evidence from new corporate borrowings," Journal of Financial Economics, Elsevier, vol. 70(1), pages 3-28, October.
    4. Oliver Hart, 2001. "Financial Contracting," Journal of Economic Literature, American Economic Association, vol. 39(4), pages 1079-1100, December.
    5. Decamps, Jean-Paul & Faure-Grimaud, Antoine, 2002. "Excessive continuation and dynamic agency costs of debt," European Economic Review, Elsevier, vol. 46(9), pages 1623-1644, October.
    6. Arturo Bris & Alan Schwartz & Ivo Welch, 2005. "Who Should Pay for Bankruptcy Costs?," The Journal of Legal Studies, University of Chicago Press, vol. 34(2), pages 295-341, June.
    7. Roberta DessÌ & Donald Robertson, 2003. "Debt, Incentives and Performance: Evidence from UK Panel Data," Economic Journal, Royal Economic Society, vol. 113(490), pages 903-919, October.
    8. Gilson, Stuart C, 1997. "Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms," Journal of Finance, American Finance Association, vol. 52(1), pages 161-196, March.
    9. Che, Yeon-Koo & Schwartz, Alan, 1999. "Section 365, Mandatory Bankruptcy Rules and Inefficient Continuance," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 15(2), pages 441-467, July.
    10. repec:bla:jfinan:v:53:y:1998:i:5:p:1443-1493 is not listed on IDEAS
    11. Bergstrom, Clas & Eisenberg, Theodore & Sundgren, Stefan, 2002. "Secured debt and the likelihood of reorganization," International Review of Law and Economics, Elsevier, vol. 21(4), pages 359-372, May.
    12. Povel, Paul, 1999. "Optimal "Soft" or "Tough" Bankruptcy Procedures," Journal of Law, Economics and Organization, Oxford University Press, vol. 15(3), pages 659-684, October.
    13. Sayantan Ghosal & Marcus Miller, 2003. "Co-ordination Failure, Moral Hazard and Sovereign Bankruptcy Procedures," Economic Journal, Royal Economic Society, vol. 113(487), pages 276-304, April.
    14. Hudson, John, 1995. "The case against secured lending," International Review of Law and Economics, Elsevier, vol. 15(1), pages 47-63, January.
    15. Hotchkiss, Edith S. & Mooradian, Robert M., 1998. "Acquisitions as a Means of Restructuring Firms in Chapter 11," Journal of Financial Intermediation, Elsevier, vol. 7(3), pages 240-262, July.
    16. Baird, Douglas G & Morrison, Edward R, 2001. "Bankruptcy Decision Making," The Journal of Law, Economics, and Organization, Oxford University Press, vol. 17(2), pages 356-372, October.
    17. Michael C. Jensen, 1991. "Corporate Control And The Politics Of Finance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 4(2), pages 13-34, June.
    18. Espen Eckbo, B. & Thorburn, Karin S., 2003. "Control benefits and CEO discipline in automatic bankruptcy auctions," Journal of Financial Economics, Elsevier, vol. 69(1), pages 227-258, July.
    19. Dahiya, Sandeep & John, Kose & Puri, Manju & Ramirez, Gabriel, 2003. "Debtor-in-possession financing and bankruptcy resolution: Empirical evidence," Journal of Financial Economics, Elsevier, vol. 69(1), pages 259-280, July.
    20. Longhofer, Stanley D., 1997. "Absolute Priority Rule Violations, Credit Rationing, and Efficiency," Journal of Financial Intermediation, Elsevier, vol. 6(3), pages 249-267, July.
    21. Bolton, Patrick & Scharfstein, David S, 1996. "Optimal Debt Structure and the Number of Creditors," Journal of Political Economy, University of Chicago Press, vol. 104(1), pages 1-25, February.
    22. Hotchkiss, Edith S. & Mooradian, Robert M., 2003. "Auctions in bankruptcy," Journal of Corporate Finance, Elsevier, vol. 9(5), pages 555-574, November.
    23. Alderson, Michael J. & Betker, Brian L., 1995. "Liquidation costs and capital structure," Journal of Financial Economics, Elsevier, vol. 39(1), pages 45-69, September.
    24. Stanley D. Longhofer, 1997. "Absolute priority rule violations, credit rationing, and efficiency," Working Papers (Old Series) 9710, Federal Reserve Bank of Cleveland.
    25. Bhattacharyya, Sugato & Singh, Rajdeep, 1999. "The resolution of bankruptcy by auction: allocating the residual right of design," Journal of Financial Economics, Elsevier, vol. 54(3), pages 269-294, December.
    26. Lynn M. LoPucki & Joseph W. Doherty, 2004. "The Determinants of Professional Fees in Large Bankruptcy Reorganization Cases," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 1(1), pages 111-141, March.
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    Cited by:

    1. John Armour, 2006. "Should we redistribute in insolvency," Working Papers wp319, Centre for Business Research, University of Cambridge.

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