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Absolute priority rule violations in bankruptcy

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Author Info
Stanley D. Longhofer
Charles T. Carlstrom

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Abstract

An examination of the impact of APR violations, demonstrating that the efficiency of such violations depends on the specific contracting problem with which a firm and its creditors are faced, and that as a result, an optimal bankruptcy institution should allow contract participants to decide ex ante whether such violations will occur.

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File URL: http://www.clevelandfed.org/Research/Review95/95-q4-longhofer.pdf
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Publisher Info
Article provided by Federal Reserve Bank of Cleveland in its journal Economic Review.

Volume (Year): (1995)
Issue (Month): Q IV ()
Pages: 21-30
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Handle: RePEc:fip:fedcer:y:1995:i:qiv:p:21-30

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Related research
Keywords: Bankruptcy ; Corporations - Finance;

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Régis Blazy & Bertrand Chopard & Agnès Fimayer & Jean-Daniel Guigou, 2007. "Financial versus Social Efficiency of Corporate Bankruptcy Law: the French Dilemma?," Working Papers of CREFI-LSF (Centre of Research in Finance - Luxembourg School of Finance) 07-02, CREFI-LSF, University of Luxembourg. [Downloadable!]
    Other versions:
  2. Stanley D. Longhofer, 1997. "Absolute priority rule violations, credit rationing, and efficiency," Working Paper 9710, Federal Reserve Bank of Cleveland. [Downloadable!]
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This page was last updated on 2009-12-6.

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