The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Asset Efficiency and Reallocation Decisions of Bankrupt Firms
Open accessAbstract
This paper investigates whether Chapter 11 bankruptcy provides a mechanism by which insolvent firms are efficiently reorganized and the assets of unproductive firms are effectively redeployed. We argue that incentives to reorganize depend on the level of demand and industry conditions. Using plant‐level data, we find that Chapter 11 status is much less important than industry conditions in explaining the productivity, asset sales, and closure conditions of Chapter 11 bankrupt firms. This suggests that firms that elect to enter into Chapter 11 incur few real economic costs.
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Citations
Cites
Coase, R. H. (1937) · Economica · doi:10.1111/j.1468-0335.1937.tb00002.x · Cited by 23,972
On the Size Distribution of Business Firms
Lucas, R. E. (1978) · The Bell Journal of Economics · doi:10.2307/3003596 · Cited by 3,236
Cited by
Trade-Off and Pecking Order Theories of Debt
Frank, M. Z., & Goyal, V. K. (2007) · SSRN Electronic Journal · doi:10.2139/ssrn.670543 · Cited by 455
Metadata
- Authors
- MAKSIMOVIC, V., & PHILLIPS, G.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 1998-10
- Volume
- 53
- Issue
- 5
- Pages
- 1495-1532
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3123295122
- Cited by
- 221
- References
- 2
- FWCI
- 26.90
- Type
- journal article
- Language
- en
- Open access
- bronze
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- MAKSIMOVIC, V., & PHILLIPS, G. (1998). Asset Efficiency and Reallocation Decisions of Bankrupt Firms. The Journal of Finance. https://doi.org/10.1111/0022-1082.00063
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
