Valuation of Bankrupt Firms

This study compares the market value of firms that reorganize in bankruptcy with estimates of value based on management's published cash flow projections. We estimate firm values using models that have been shown in other contexts to generate relatively precise estimates of value. We find that...

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Veröffentlicht in:	The Review of financial studies 2000-04, Vol.13 (1), p.43-74
Hauptverfasser:	Gilson, Stuart C., Hotchkiss, Edith S., Ruback, Richard S.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bankruptcy Bankruptcy laws Bankruptcy reorganization Business structures Business valuation Cash flow Cash flow forecasting Common stock Credit Creditors Cross-sectional analysis Debtors Enterprises Error rates Errors Estimates Estimation Federal courts Fresh starts Indebtedness Management Market value Statistical analysis Studies Valuation
Online-Zugang:	Volltext
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