| Description |
xvii, 559 pages ; 24 cm |
| Contents |
Pt. I. The Role of Credit: 1. Leverage, Nobel prize lecture (1990) / Merton H. Miller -- 2. Agency costs of free cash flow, corporate finance and takeovers / Michael C. Jensen -- 3. A theory of loan priorities / Alan Schwartz -- Pt. II. Bankruptcy as a Reflection of the Creditors' Implicit Bargain: 4. A world without bankruptcy / Douglas G. Baird -- 5. Bankruptcy, non-bankruptcy entitlements, and the creditors' bargain / Thomas H. Jackson -- 6. Translating assets and liabilities to the bankruptcy forum / Thomas H. Jackson -- 7. Bankruptcy policy / Elizabeth Warren -- 8. Loss distribution, forum shopping, and bankruptcy: a reply to Warren / Douglas G. Baird -- Pt. III. Beyond the Basic Creditors' Bargain: 9. Bargaining after the fall and the contours of the absolute priority rule / Douglas G. Baird and Thomas H. Jackson -- 10. On the nature of bankruptcy: an essay on bankruptcy sharing and the credotors' bargain / Thomas Jackson and Robert E. Scott -- 11. A simple noncooperative bargaining model of corporate reorganizations / Douglas Baird and Randal C. Picker -- 12. Commentary on "On the nature of bankruptcy": bankruptcy, priority and economics / Mark J. Roe -- 13. Bankruptcy and risk allocation / Barry E. Adler -- 14. The corporate bankruptcy decision / Michelle J. White -- 15. Bargaining over equity's share in the bankruptcy reorganization of large, publicly held companies / Lynn M. LoPucki and William C. Whitford -- 16. Bankruptcy resolution: direct costs and violation of priority claims / Lawrence A. Weiss -- 17. The costs of conflict resolution and financial distress: evidence from the Texaco-Pennzoil litigation / David Cutler and Lawrence Summers -- 18. Survey of evidence on business bankruptcy / Michelle J. White -- Pt. IV. Workouts or Bargaining in the Shadow of Bankruptcy: 19. Managing default: some evidence of how firms choose between workouts and Chapter 11 / Stuart C. Gibson -- 20. The economics of pre-packaged bankruptcy / John McConnell and Henri Servaes -- Pt. V. Alternatives to Bankruptcy and the Creditors' Bargain: 21. Corporate control and the politics of finance / Michael C. Jensen -- 22. The uneasy case for corporate reorganizations / Douglas G. Baird -- 23. Bankruptcy and debt: a new model for corporate reorganization / Mark J. Roe -- 24. A new approach to corporate reorganizations / Lucian A. Bebchuk -- 25. Debtor's choice: a menu approach to corporate bankruptcy / Robert K. Rasmussen -- 26. Is corporate bankruptcy efficient? / Frank H. Easterbrook -- 27. The voting prohibition in bond workouts / Mark J. Roe -- 28. Financial and political theories of American corporate bankruptcy / Barry E. Adler -- Pt. VI. Experience of Other Countries: 29. Lessons from comparison of US and UK insolvency codes / Julian R. Franks and Walter N. Torous -- 30. The costs of corporate bankruptcy: a U.S.-European comparision / Michelle J. White -- 31. Should we abolish Chapter 11?: the evidence fro Japan / Theodore Eisenberg and Shoichi Tagashira -- 32. The role of banks in reducing the costs of financial distress in Japan / Takeo Hoshi, Anil Kashyap, and David Sharfstein |
| Summary |
"This collection is the first comprehensive selection of readings focusing on corporate bankruptcy. Its main purpose is to explore the nature and efficiency of corporate reorganization using interdisciplinary approaches drawn from law, economics, business, and finance. Substantive areas covered include the role of credit, directors' implicit bargains, nonbargaining features of bankruptcy, workouts of agreements, alternatives to bankruptcy, and proceedings in countries other than the United States, including the United Kingdom, Europe, and Japan. The editors' introductions guide readers through each of the six parts, comprised of edited versions of papers combined with editorial notes to reduce the time required to absorb key ideas."--BOOK JACKET |
| Analysis |
Bankruptcy Law |
|
Business Bankruptcy Law |
|
United States |
| Bibliography |
Includes bibliographical references and index |
| Subject |
Bankruptcy -- United States.
|
|
Bankruptcy.
|
|
Business failures.
|
|
Corporate reorganizations -- United States.
|
|
Debtor and creditor -- United States.
|
| Author |
Bhandari, Jagdeep S.
|
|
Weiss, Lawrence A. (Lawrence Alan)
|
| LC no. |
95013486 |
| ISBN |
0521451078 (hard) |
|
0521457173 (paperback) |
|
