Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/294826 
Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
BOFIT Discussion Papers No. 6/2024
Verlag: 
Bank of Finland, Bank of Finland Institute for Emerging Economies (BOFIT), Helsinki
Zusammenfassung: 
The paper investigates the influence of the speed of liquidation of insolvent firms on leverage. The theoretical model presented formalizes the intuitive view that an increase in liquidation speed is expected to decrease average leverage as highly leveraged firms exit. Analysis of Indian data, however, suggests that an increase in liquidation speed increases average leverage. This finding is linked to influential observations at the right tail of the leverage distribution. We propose an asset-weighted variant of the proposition that holds with empirical data.
Schlagwörter: 
Indian economy
insolvency and bankruptcy code
liquidation speed
leverage
JEL: 
C21
D22
G33
K35
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
767.13 kB





Publikationen in EconStor sind urheberrechtlich geschützt.