We document the distortionary effects of accounting-based regulation on reported earnings. In India only firms with negative book value of equity (networth) can seek bankruptcy protection. Using a novel dataset of bankrupt firms from India, we show that firms manage earnings downward to seek bankruptcy protection. Strengthening creditor rights reduces downward earnings management among non-grou...

In this paper, we empirically assess the role of individual social capital on personal bankruptcy and default outcomes in the consumer credit market. After controlling for a borrower’s risk score, debt, income, wealth, and legal and economic environments, we find that default/bankruptcy risk rises and then falls over the lifecycle, while a borrower who owns a home or is married has a lower risk...

Much has been written about the relationship between high medical expenses and the likelihood of filing for bankruptcy, but the relationship between receiving a cancer diagnosis and filing for bankruptcy is less well understood. We estimated the incidence and relative risk of bankruptcy for people age twenty-one or older diagnosed with cancer compared to people the same age without cancer by co...

The aim of this study is to investigate the effects of corporate governance mechanisms in preventing the bankruptcy of companies listed in Tehran Stock Exchange. For this purpose, corporate governance mechanisms, including institutional ownership, non-executive members of the board, CEO dual responsibility and free float stock are determined as independent variables and Bankruptcy based on the ...

Over the last decade, the topic of bankruptcy has been an object of growing concern. In Canada, the number of business bankruptcies under the Bankruptcy Act has risen significantly since the beginning of the 1980s. From 6,595 in 1980, the number of bankruptcies rose to 8,664 in 1989, to 14,317 in 1992 to finally settle at 11,810 in 1994.1 In addition, a large but uncertain number of business fa...

The aim of this study is to investigate the effects of corporate governance mechanisms in preventing the bankruptcy of companies listed in Tehran Stock Exchange. For this purpose, corporate governance mechanisms, including institutional ownership, non-executive members of the board, CEO dual responsibility and free float stock are determined as independent variables and Bankruptcy based on the ...

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a r t i c l e i n f o This paper aims to examine the intra-industry effects of confirmation of a reorganization plan. Using unique Taiwanese data on announcements of reorganization confirmation, I find evidence that such announcements elicit positive stock price reactions for the announcing firms and negative stock price reactions for other firms within the same industry. Specifically, negative...