Corporate Governance Models and Applications in Developing Economies PDF Download
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Author: Agyemang, Otuo Serebour
Publisher: IGI Global
ISBN: 1522596097
Category : Business & Economics
Languages : en
Pages : 330
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Book Description
Virtually all developing, transitioning, and emerging-market economies are faced with one pressing concern at the moment: how to establish the groundwork for long-term economic performance and competitiveness in a diverse market. However, without the existence of good corporate governance in these economies, small enterprise will cease to exist in developing countries. Corporate Governance Models and Applications in Developing Economies is a collection of innovative research that contributes to the better understanding of corporate governance models by documenting the structures, principles, tenets, case studies, and applications for the development of good business practices in developing economies. While highlighting topics including risk management, financial distress, and insider trading, this book is ideally designed for corporate managers, executives, economists, strategists, investors, shareholders, students, researchers, academicians, business professionals, and policymakers.
Author: Agyemang, Otuo Serebour
Publisher: IGI Global
ISBN: 1522596097
Category : Business & Economics
Languages : en
Pages : 330
Get Book Here
Book Description
Virtually all developing, transitioning, and emerging-market economies are faced with one pressing concern at the moment: how to establish the groundwork for long-term economic performance and competitiveness in a diverse market. However, without the existence of good corporate governance in these economies, small enterprise will cease to exist in developing countries. Corporate Governance Models and Applications in Developing Economies is a collection of innovative research that contributes to the better understanding of corporate governance models by documenting the structures, principles, tenets, case studies, and applications for the development of good business practices in developing economies. While highlighting topics including risk management, financial distress, and insider trading, this book is ideally designed for corporate managers, executives, economists, strategists, investors, shareholders, students, researchers, academicians, business professionals, and policymakers.
Author: Philipp Jostarndt
Publisher: Springer Science & Business Media
ISBN: 3835094378
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
Philipp Jostarndt studies distress-induced changes in ownership and control, success factors in distressed equity infusions, and firms’ choice between in- and out-of-court debt restructurings. In addition, he analyzes the determinants of survival, acquisition, and bankruptcy as alternative paths to exit financial distress. He includes both the firm perspective as well as the market valuations of the undertaken restructurings and, where applicable, relates the findings to the microstructure of Germany’s revised bankruptcy legislation.
Author: Anne Dyrberg Rommer
Publisher:
ISBN:
Category :
Languages : da
Pages : 76
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Book Description
Author: Andualem Ufo Baza
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659783456
Category :
Languages : en
Pages : 84
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Book Description
In this book financial distress, its causes and solutions are explicitly explained. The book also discusses about the capital structure and cost of capital in relation to financial distress. Financial distress, causes of financial distress, consequences of financial distress, resolution of financial distress and the role of financial distress. The relationship between financial distress and liquidity, profitability, leverage, efficiency and other related factors explained clearly. Moreover, it explains about the trade-off theory and the contending models of financial distress. The book is very valuable for University instructors who teach in areas of corporate finance and students who learn corporate finance, researchers in area of financial structure, capital structure and financial conditions of companies.
Author: Gianpaolo Parise
Publisher:
ISBN:
Category : Finance, Personal
Languages : en
Pages : 53
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Book Description
We explore how financial distress and choices are affected by noncognitive abilities. Our measures stem from research in psychology and economics. In a representative panel of households, we find that people in the bottom decile of noncognitive abilities are five times more likely to experience financial distress compared to those in the top decile. Relatedly, individuals with lower noncognitive abilities make financial choices that increase their likelihood of distress: They are less likely to plan for retirement and save, and more likely to buy impulsively and to have unsecured debt. Causality is shown using childhood trauma as an instrument.
Author: Edward I. Altman
Publisher: John Wiley & Sons
ISBN: 1118046048
Category : Business & Economics
Languages : en
Pages : 314
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Book Description
A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more.
Author: Ahmet K. Karagozoglu
Publisher:
ISBN:
Category :
Languages : en
Pages : 48
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Book Description
In this study, we empirically investigate the determinants of the process utilized to resolve financial distress (resolution process) and also the outcome of the financial distress (resolution outcome). Specifically, we separate firms that utilize a private (work out) versus a public (filing for bankruptcy) resolution process and then we further separate the firms by outcome - liquidation or reorganization. Various qualitative dependent variable models are estimated and compared: ordered logistic regression (OLR), local regression models (LRMs) and feed forward neural network (FNN). We select several accounting and economic variables, measured at the time of default, which are expected to influence the resolution process and the resolution outcome. Estimation results reveal the OLR specification achieves the best balance between in-sample fit, consistency with financial theory, and out-of-sample classification accuracy. We find that larger firms with higher liquidity and more secured debt in their capital structure are more likely to follow a public resolution process. Firms with higher Z-scores and more total leverage are less likely to follow a public resolution process and attempt to resolve the financial distress privately. For resolution outcome, we find that firms with greater liquidity, more secured debt and lower cumulative abnormal returns are more likely to be liquidated rather than reorganized. And firms with more leverage, more intangible assets and filing a prepackaged bankruptcy are more likely to be reorganized.Model performance is assessed on the dimensions of discriminatory power, predictive and classification accuracy. The former two are measured by implementing standard tests (power curve analysis and chi-squared tests), while classification accuracy is assessed according to alternative categorization criteria (expected cost of misclassification, minimization of total misclassification and deviation from historical averages) as compared to nayacute;ve random benchmarks. While in- and out-of-sample performance along these dimensions exhibits wide variation across models and criteria, the OLR and LRM models are found to perform comparably, while the FNN model is found to consistently underperform. The statistical significance of these results is rigorously analyzed and confirmed through a resampling procedure, yielding estimated sampling distributions of the performance statistics, confirming these observations.
Author: William H. Beaver
Publisher: Now Publishers Inc
ISBN: 1601984243
Category : Business & Economics
Languages : en
Pages : 89
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Book Description
Financial Statement Analysis and the Prediction of Financial Distress discusses the evolution of three main streams within the financial distress prediction literature: the set of dependent and explanatory variables used, the statistical methods of estimation, and the modeling of financial distress. Section 1 discusses concepts of financial distress. Section 2 discusses theories regarding the use of financial ratios as predictors of financial distress. Section 3 contains a brief review of the literature. Section 4 discusses the use of market price-based models of financial distress. Section 5 develops the statistical methods for empirical estimation of the probability of financial distress. Section 6 discusses the major empirical findings with respect to prediction of financial distress. Section 7 briefly summarizes some of the more relevant literature with respect to bond ratings. Section 8 presents some suggestions for future research and Section 9 presents concluding remarks.
Author: Benjamin J. Keys
Publisher:
ISBN:
Category : Bankruptcy
Languages : en
Pages : 56
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Book Description
We use credit report data for a representative sample of 35 million individuals over 2000-2016 to examine consumer financial distress in the United States. We show there are large, persistent geographic disparities in consumer financial distress, with low levels in the Upper Midwest and high levels in the Deep South. To better understand these patterns, we conduct a "movers" analysis that examines how financial distress evolves when people move to places with different levels of financial distress. For collections and default, there is only weak convergence following a move, suggesting these types of financial distress are not primarily caused by place-based factors (such as local economic conditions, loan supply, and state laws) but instead reflect person-based characteristics (such as financial literacy and risk preferences). In contrast, for personal bankruptcy, we find a sizable place-based effect, which is consistent with anecdotal evidence on how local legal factors influence the bankruptcy filing decision. Individual characteristics determine whether you get into financial distress, while place-based factors determine whether you use bankruptcy to get out.
Author: Ephrem Gebreslassie
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659494239
Category :
Languages : en
Pages : 80
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Book Description
In this research the financial health condition of selected private commercial banks in Ethiopian is assessed by using the Altman's Z score model. Altman's Z score model (a.k.a, ZETA score analysis) is type of Multiple Discriminate Analysis (MDA) which has been applied by financial analysts to evaluate the general trend in the financial health of the enterprises over a period. In addition to the Altman's Zeta model, classical linear regression model (CLRM) is applied to identify the factors that affect the financial health condition of private commercial banks in Ethiopia, and the results of the analysis and recommendations are presented in a nice manner. This book also contains very important points that would be significant for students, researchers and university professors who deals with finance and financial institutions.
