| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23305 |
| 来源ID | Working Paper 23305 |
| Asset Allocation in Bankruptcy | |
| Shai Bernstein; Emanuele Colonnelli; Ben Iverson | |
| 发表日期 | 2017-04-03 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | This paper investigates the consequences of liquidation and reorganization on the allocation and subsequent utilization of assets in bankruptcy. Using the random assignment of judges to bankruptcy cases as a natural experiment that forces some firms into liquidation, we find that the long-run utilization of assets of liquidated firms is lower relative to assets of reorganized firms. These effects are concentrated in thin markets with few potential users, and in areas with low access to finance. The results highlight the importance of local search frictions and financial frictions in affecting the allocation of assets in bankruptcy. |
| 主题 | Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w23305 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580979 |
| 推荐引用方式 GB/T 7714 | Shai Bernstein,Emanuele Colonnelli,Ben Iverson. Asset Allocation in Bankruptcy. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23305.pdf（1528KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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