Systemic Financial Distress and Auction-Based Bankruptcy Reorganization

Most bankruptcy procedures try to reorganize a financially-distressed firm's debts to a serviceable level through negotiations overseen by courts. Markets are an alternative to such negotiations. This paper develops a market-based approach that is appropriate if claimants are severely cash-cons...

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Bibliographic Details
Main Authors: Hausch, Donald B., Ramachandran, S.
Format: Journal Article
Language:EN
Published: 2012
Subjects:
Online Access:http://hdl.handle.net/10986/5825