Liquidation values and the credibility of financial contract renegotiation: evidence from U.S. airlines

How do liquidation values affect financial contract renegotiation? While the 'incomplete-contracting' theory of financial contracting predicts that liquidation values determine the allocation of bargaining power between creditors and debtors, there is little empirical evidence on financial...

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Veröffentlicht in:	The Quarterly journal of economics 2008-11, Vol.CXXIII (4), p.1635-1678
Hauptverfasser:	Benmelech, Efraim, Bergman, Nittai K
Format:	Artikel
Sprache:	eng
Schlagworte:	Access to credit Airlines Contracts Corporate finance Financial management Industrial organization U.S.A
Online-Zugang:	Volltext
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