Optimal capital structure and bankruptcy choice: Dynamic bargaining versus liquidation
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DOI: 10.1016/j.jfineco.2018.05.012
Abstract: We model a firm’s optimal capital structure decision in a framework in which it may later choose to enter either Chapter 11 reorganization or Chapter 7 liquidation. Creditors anticipate equityholders’ ex-post reorganization incentives and price… read more here.
Keywords: reorganization; optimal capital; dynamic bargaining; capital structure ... See more keywords
The Role of the Status-Quo in Dynamic Bargaining
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DOI: 10.3390/g14030035
Abstract: We analyze a dynamic bargaining game where parties can agree to implement a policy change, which is costly (beneficial) in the short-run but beneficial (costly) in the long-run. When the status-quo is endogenized (at least… read more here.
Keywords: dynamic bargaining; status quo; role status; status ... See more keywords