We study whether industrial firms risk-shift in response to distress risk increases induced
through hurricane strikes. Using new proxies capturing deliberate managerial decisions …

On July 19, 2002 WorldCom sought protection from its creditors when it filed for Chapter 11
bankruptcy, earning the distinction as the largest bankruptcy filing in US history. The events …

Beginning in the 1990s, firms often continue to trade on the major national exchanges after
Chapter 11 bankruptcy filings. For bankruptcies filed from 1993–2003, we find that the more …

In this study, we show the potential substantial gains from identifying the attributes of firms
whose stock prices are likely to rise as a consequence of reorganization. Our study indicates …

Using a logistic regression model, we identify the characteristics of firms whose
shareholders are likely to benefit from bankruptcy resolution. That is, winners (losers) are …

The study aims to empirically analyze the reaction of stock prices to the information about
the conclusion and acceptance of a debtor–creditor arrangement under restructuring …

Past literature has assumed that negative stock returns around Chapter 11 filing are solely
due to new adverse information about firm value. This paper argues that there is also a …

This study aims to check market reaction to filing for bankruptcy and restructuring
proceedings and to verify the short-term effect of a price reversal in the Polish market in the …

This paper examines the stock price performances of 275 non‐financial, non‐utility US
industrial firms that continue trading on the main exchanges after filing for C hapter 11 …

Firms that file for Chapter 11 are actively traded. This paper investigates who trades these
bankrupt firms and why. We also examine the impact of this abnormal trading on stock …