DOAJ Open Access 2019

Bank responses to corporate reorganization: Evidence from an emerging economy

Mariana Oreng Richard Saito Vinicius A. B. Silva

Abstrak

This study analyzes a unique dataset of 125 corporate reorganization filings in Brazil from 2006 to 2016 to understand the role of bank creditor seniority in bankruptcy outcomes of small- and medium-sized companies. We find that conflict between bank creditor classes is relevant for explaining reorganization outcomes and that it occurs when organizations are in the money. Additionally, bank seniority matters more than the bank’s debt share for explaining bankruptcy outcomes in creditor-oriented regimes. Finally, we find a concave relationship between favorable votes and the number of banks involved and between favorable votes and a company’s age.

Topik & Kata Kunci

Business

Penulis (3)

Mariana Oreng

Richard Saito

Vinicius A. B. Silva

Format Sitasi

APA MLA BibTeX

Oreng, M., Saito, R., Silva, V.A.B. (2019). Bank responses to corporate reorganization: Evidence from an emerging economy. https://doi.org/10.1590/1807-7692bar2019180053

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Informasi Jurnal

Tahun Terbit: 2019
Sumber Database: DOAJ
DOI: 10.1590/1807-7692bar2019180053
Akses: Open Access ✓