Corporate Financial Distress, Restructuring, and Bankruptcy, 4th Edition

Table of contents

1. Cover
2. About the Authors
3. Acknowledgments
4. Preface
5. PART One: The Economic and Legal Framework of Corporate Restructuring and Bankruptcy
   1. CHAPTER 1: Corporate Financial Distress
      1. REASONS FOR CORPORATE FAILURES
      2. BANKRUPTCY AND REORGANIZATION THEORY
      3. DISTRESSED RESTRUCTURING IN A NUTSHELL
      4. THE DISTRESSED RESTRUCTURING INDUSTRY PLAYERS
      5. BANKRUPTCY FILINGS
      6. CHAPTER 22 DEBTORS AND BANKRUPTCY SUCCESS
      7. DISTRESS INVESTING
      8. NOTES
   2. CHAPTER 2: An Introduction to Leveraged Finance
      1. LEVERAGED LOANS: OVERVIEW
      2. LENDER PROTECTION
      3. HIGH‐YIELD BONDS
      4. DEBT SUBORDINATION
      5. NOTES
   3. CHAPTER 3: An Overview of the U.S. Bankruptcy Process
      1. EVOLUTION OF THE U.S. BANKRUPTCY PROCESS
      2. A PRIMER ON CHAPTER 11
      3. OTHER KEY ASPECTS OF CHAPTER 11
      4. ABI COMMISSION REPORT OF 2014
      5. NOTES
   4. CHAPTER 4: Restructuring Out‐of‐Court and the Cost of Financial Distress
      1. COSTS OF FINANCIAL DISTRESS
      2. RESTRUCTURING OUT OF COURT
      3. NOTES
   5. CHAPTER 5: Valuation of Distressed Firms
      1. VALUATION METHODOLOGIES
      2. USING ESTIMATED VALUES IN BANKRUPTCY
      3. HOW WELL DO VALUATION MODELS WORK FOR DISTRESSED FIRMS?
      4. NOTES
   6. CHAPTER 6: Corporate Governance in Distressed Firms
      1. MANAGER, CREDITOR, AND SHAREHOLDER INTERESTS
      2. CREDITOR CONTROL RIGHTS
      3. CHANGES IN CONTROL AND IMPACT OF CLAIMS TRADING
      4. CEOS, BOARDS, AND LABOR MARKETS
      5. COLLECTIVE BARGAIN AGREEMENTS (CBA) AND EMPLOYEE BENEFITS
      6. NOTES
   7. CHAPTER 7: Bankruptcy Outcomes
      1. OUTCOMES OF CHAPTER 11 CASES
      2. POSTBANKRUPTCY PERFORMANCE
      3. IMPLICATIONS FOR EFFICIENCY OF CHAPTER 11
      4. NOTES
   8. CHAPTER 8: International Evidence
      1. CHINA
      2. FRANCE
      3. GERMANY
      4. INDIA
      5. JAPAN
      6. SWEDEN
      7. THE UNITED KINGDOM (ENGLAND AND WALES)
      8. CROSS‐BORDER INSOLVENCIES
      9. NOTES
6. PART Two: High‐Yield Debt, Prediction of Corporate Distress, and Distress Investing
   1. CHAPTER 9: The High‐Yield Bond Market
   2. CHAPTER 10: A 50‐Year Retrospective on Credit Risk Models, the Altman Z‐Score Family of Models, and Their Applications to Financial Markets and Managerial Strategies
      1. THE EVOLUTION OF CORPORATE CREDIT SCORING SYSTEMS
      2. FROM A SCORING MODEL TO DEFAULT PREDICTION
      3. SCHOLARLY IMPACT
      4. FINANCIAL DISTRESS PREDICTION APPLICATIONS
      5. CONCLUSION
      6. NOTES
   3. CHAPTER 11: Applications of Distress Prediction Models
      1. NOTES
   4. CHAPTER 12: Distress Prediction Models
      1. NOTE
   5. CHAPTER 13: A Bottom‐Up Approach to Assessing Sovereign Default Risk
      1. NOTES
   6. CHAPTER 14: The Anatomy of Distressed Debt Markets
      1. SIZE OF THE DISTRESSED AND DEFAULTED DEBT MARKET
      2. DISTRESSED SECURITIES INVESTORS
      3. CAPITAL STRUCTURE ARBITRAGE
      4. CONCLUSION
      5. NOTES
   7. CHAPTER 15: Investing in Distressed Firm Securities
      1. LITERATURE REVIEW
      2. MEASURING AND INVESTING IN DEFAULTED AND DISTRESSED DEBT SECURITIES
      3. CONCLUSION
      4. NOTES
   8. CHAPTER 16: Modeling and Estimating Recovery Rates
      1. CREDIT RISK MODELS AND THEIR TREATMENT OF RR
      2. STATISTICAL MODELS AND EMPIRICAL EVIDENCE
      3. NOTES
7. References
8. Author Index
9. Subject Index
10. End User License Agreement