2005
DOI: 10.1016/j.jfi.2004.07.002
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Financial innovations and corporate bankruptcy

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Cited by 48 publications
(28 citation statements)
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References 17 publications
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“…Antoniou, Guney and Paudyal (2002) investigate the determinants of leverage for French, German and British firms using panel data with a focus on the convergence of capital structure to a target maturity structure. A historical perspective on the evolution of the US and UK codes is provided by Franks and Sussman (2005), while Davydenko and Franks (2008) analyze the effect of bankruptcy codes in France, Germany and the UK on the recovery rates and collateral requirements of bank-based contracts.…”
Section: The Related Literaturementioning
confidence: 99%
“…Antoniou, Guney and Paudyal (2002) investigate the determinants of leverage for French, German and British firms using panel data with a focus on the convergence of capital structure to a target maturity structure. A historical perspective on the evolution of the US and UK codes is provided by Franks and Sussman (2005), while Davydenko and Franks (2008) analyze the effect of bankruptcy codes in France, Germany and the UK on the recovery rates and collateral requirements of bank-based contracts.…”
Section: The Related Literaturementioning
confidence: 99%
“…Franks and Sussman (2005) argue that bankruptcy judges and lawyers who administer bankruptcy proceedings may be biased toward soft laws because soft laws increase demand for bankruptcy.…”
Section: Ii1 Means Testing As Income Indexed Debtmentioning
confidence: 99%
“…took effect (unlike with BAPCPA), nor did filings decrease after, they accelerated. 11 those enterprises to society at large (Franks and Sussman 2005). The fresh start concept in personal bankruptcy has a similar rationale.…”
Section: Ii2 Opposing Forcesmentioning
confidence: 99%
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“…One immediate answer is that in many countries the floating charge is legally forbidden (Djankov et al 2008a). More subtly, the floating charge may just be very hard to transplant, being as it is the end result of a long process of precedent accumulation that is specific to certain common law systems (Franks and Sussman 2005b). Another possibility is that countries may have opted for formal bankruptcy procedures as alternative mechanisms to mitigate the costs of creditor control under standard foreclosure.…”
Section: Contractual Resolutions Of Distress Around the Worldmentioning
confidence: 99%