Shareholder bargaining power and the emergence of empty creditors
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DOI: 10.1016/j.jfineco.2019.04.001
Abstract: Credit default swaps (CDSs) can create empty creditors who potentially force borrowers into inefficient bankruptcy but also reduce shareholders' incentives to default strategically. We show theoretically and empirically that the presence and the effects of… read more here.
Keywords: power emergence; emergence empty; shareholder bargaining; bargaining power ... See more keywords