Publications
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Distress
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- 2002
- Chapter
Creditor Control in Financially Distressed Firms: The Empirical Evidence
By: S. C. Gilson and M. R. Vetsuypens
Keywords: Insolvency and Bankruptcy
- March 2000
- Background Note
Fall Before Rising, A: The Story of Jai Jaikumar (A)
By: H. Kent Bowen, Richard Compton Squire, Sarah Patricia Vickers-Willis and Harry James Wilson
What is the relationship between good fortune, professional success, and a moral obligation to other people? Jai Jaikumar, who as a youth was saved by a shepherd woman after a tragic mountaineering accident in the Himalayas, and who later rose to the top of his... View Details
- 2000
- Chapter
Main Banks, Creditor Concentration, and the Resolution of Financial Distress in Japan
By: Brian J. Hall and David E. Weinstein
- 1999
- Chapter
CEO Compensation in Financially Distressed Firms: An Empirical Analysis
By: S. C. Gilson and M. R. Vetsuypens
- September 1998 (Revised December 1998)
- Case
Infinity Carpets, Inc.
By: Ronald W. Moore and Thomas R. Piper
A turnaround expert must determine whether a firm in distress is worth more as a going concern than its liquidation value. If so, the finances of the firm must be restructured in a way consistent with the bargaining power of the holders of the various securities. The... View Details
- March 1997
- Article
Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms
By: S. C. Gilson
This study provides evidence that transactions costs discourage debt reductions by financially distressed firms when they restructure their debt out of court. As a result, these firms remain highly leveraged and one-in-three subsequently experience financial distress.... View Details
- Article
Investing in Distressed Situations: A Market Survey
By: S. C. Gilson
The risks of investing in distressed companies—a practice popularly known as "vulture" investing—are highly firm specific and idiosyncratic. Investors who are adept at managing these risks, who understand the legal rules that must be followed in corporate bankruptcy,... View Details
- 1995
- Article
Creditor Control in Financially Distressed Firms: The Empirical Evidence
By: S. C. Gilson and M. R. Vetsuypens
- fall 1994
- Article
Creditor Control in Financially Distressed Firms: The Empirical Evidence
By: S. C. Gilson and M. R. Vetsuypens
- Article
CEO Compensation in Financially Distressed Firms: An Empirical Analysis
By: S. C. Gilson and M. R. Vetsuypens
- summer 1991
- Article
Japanese Corporate Governance and the Conservation of Value in Financial Distress
By: W. C. Kester
- October 1990
- Article
Troubled Debt Restructurings: An Empirical Analysis of Private Reorganization of Firms in Default
By: S. C. Gilson, J. Kose and L. H. P. Kang
This study investigates the incentives of financially distressed firms to restructure their debt privately rather than through formal bankruptcy. In a sample of 169 financially distressed companies, about half successfully restructure their debt outside of Chapter 11.... View Details
- September 1990
- Article
The Role of Banks in Reducing the Costs of Financial Distress in Japan
By: David S. Scharfstein, Takeo Hoshi and Anil Kashyap
- May 1983
- Article
The Resolution of Claims in Financial Distress - The Case of Massey Ferguson
By: Carliss Y. Baldwin and Scott P. Mason
Keywords: Finance
- Forthcoming
- Article
Consumer Choice and Corporate Bankruptcy
By: Samuel Antill and Megan Hunter
We estimate the indirect costs of corporate bankruptcy associated with lost customers. In incentivized experiments, randomly informing consumers about a firm’s Chapter 11 reorganization lowers their willingness to pay for the firm’s products by 17%-28%. Consumers worry... View Details