Bank Responses to Corporate Reorganization: Evidence from an Emerging Economy
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Redalyc
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| Format: | Artículo científico |
| Langue: | en |
| Publié: |
Associação Nacional de Pós-Graduação e Pesquisa em Administração
2019
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| _version_ | 1876490313430728704 |
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| author | Mariana Oreng |
| author_facet | Mariana Oreng |
| contents | Bank Responses to Corporate Reorganization: Evidence from an Emerging Economy Mariana Oreng Richard Saito Vinicius A. B. Silva Administración y Contabilidad Bankruptcy reorganization creditors’ bargain model conflict between creditors 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. 2019 artículo científico 1807-7692 https://www.redalyc.org/articulo.oa?id=84159504002 https://www.redalyc.org/journal/841/84159504002/ https://www.redalyc.org/journal/841/84159504002/html/ https://www.redalyc.org/journal/841/84159504002/84159504002.epub https://www.redalyc.org/journal/841/84159504002/movil 10.1590/1807-7692bar2019180053 en http://www.redalyc.org/revista.oa?id=841 BAR - Brazilian Administration Review application/pdf Associação Nacional de Pós-Graduação e Pesquisa em Administração BAR - Brazilian Administration Review (Brasil) Num.1 Vol.16 |
| format | Artículo científico |
| id | redalyc_84159504002 |
| institution | Redalyc |
| language | en |
| publishDate | 2019 |
| publisher | Associação Nacional de Pós-Graduação e Pesquisa em Administração |
| spellingShingle | Bank Responses to Corporate Reorganization: Evidence from an Emerging Economy Mariana Oreng Administración y Contabilidad Bankruptcy reorganization creditors’ bargain model conflict between creditors Bank Responses to Corporate Reorganization: Evidence from an Emerging Economy Mariana Oreng Richard Saito Vinicius A. B. Silva Administración y Contabilidad Bankruptcy reorganization creditors’ bargain model conflict between creditors 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. 2019 artículo científico 1807-7692 https://www.redalyc.org/articulo.oa?id=84159504002 https://www.redalyc.org/journal/841/84159504002/ https://www.redalyc.org/journal/841/84159504002/html/ https://www.redalyc.org/journal/841/84159504002/84159504002.epub https://www.redalyc.org/journal/841/84159504002/movil 10.1590/1807-7692bar2019180053 en http://www.redalyc.org/revista.oa?id=841 BAR - Brazilian Administration Review application/pdf Associação Nacional de Pós-Graduação e Pesquisa em Administração BAR - Brazilian Administration Review (Brasil) Num.1 Vol.16 |
| title | Bank Responses to Corporate Reorganization: Evidence from an Emerging Economy |
| topic | Administración y Contabilidad Bankruptcy reorganization creditors’ bargain model conflict between creditors |
| url | https://www.redalyc.org/articulo.oa?id=84159504002 https://www.redalyc.org/journal/841/84159504002/ https://www.redalyc.org/journal/841/84159504002/html/ https://www.redalyc.org/journal/841/84159504002/84159504002.epub https://www.redalyc.org/journal/841/84159504002/movil |