TY - BOOK AU - Bhandari,Jagdeep S. AU - Weiss,Lawrence A. TI - Corporate bankruptcy: economic and legal perspectives SN - 9780521457170 U1 - 346.73078347.30678 PY - 1996/// PB - New York, Cambridge University Press KW - Corporate reorganizations KW - United States KW - Bankruptcy N1 - Includes bibliographical references and index; Pt. I. The Role of Credit: 1. Leverage, Nobel prize lecture (1990) /​ Merton H. Miller 2. Agency costs of free cash flow, corporate finance and takeovers /​ Michael C. Jensen 3. A theory of loan priorities /​ Alan Schwartz Pt. II. Bankruptcy as a Reflection of the Creditors' Implicit Bargain: 4. A world without bankruptcy /​ Douglas G. Baird 5. Bankruptcy, non-bankruptcy entitlements, and the creditors' bargain /​ Thomas H. Jackson 6. Translating assets and liabilities to the bankruptcy forum /​ Thomas H. Jackson 7. Bankruptcy policy /​ Elizabeth Warren 8. Loss distribution, forum shopping, and bankruptcy: a reply to Warren /​ Douglas G. Baird Pt. III. Beyond the Basic Creditors' Bargain: 9. Bargaining after the fall and the contours of the absolute priority rule /​ Douglas G. Baird and Thomas H. Jackson 10. On the nature of bankruptcy: an essay on bankruptcy sharing and the credotors' bargain /​ Thomas Jackson and Robert E. Scott 11. A simple noncooperative bargaining model of corporate reorganizations /​ Douglas Baird and Randal C. Picker 12. Commentary on "On the nature of bankruptcy": bankruptcy, priority and economics /​ Mark J. Roe 13. Bankruptcy and risk allocation /​ Barry E. Adler 14. The corporate bankruptcy decision /​ Michelle J. White 15. Bargaining over equity's share in the bankruptcy reorganization of large, publicly held companies /​ Lynn M. LoPucki and William C. Whitford 16. Bankruptcy resolution: direct costs and violation of priority claims /​ Lawrence A. Weiss 17. The costs of conflict resolution and financial distress: evidence from the Texaco-Pennzoil litigation /​ David Cutler and Lawrence Summers 18. Survey of evidence on business bankruptcy /​ Michelle J. White Pt. IV. Workouts or Bargaining in the Shadow of Bankruptcy: 19. Managing default: some evidence of how firms choose between workouts and Chapter 11 /​ Stuart C. Gibson 20. The economics of pre-packaged bankruptcy /​ John McConnell and Henri Servaes Pt. V. Alternatives to Bankruptcy and the Creditors' Bargain: 21. Corporate control and the politics of finance /​ Michael C. Jensen 22. The uneasy case for corporate reorganizations /​ Douglas G. Baird 23. Bankruptcy and debt: a new model for corporate reorganization /​ Mark J. Roe 24. A new approach to corporate reorganizations /​ Lucian A. Bebchuk 25. Debtor's choice: a menu approach to corporate bankruptcy /​ Robert K. Rasmussen 26. Is corporate bankruptcy efficient? /​ Frank H. Easterbrook 27. The voting prohibition in bond workouts /​ Mark J. Roe 28. Financial and political theories of American corporate bankruptcy /​ Barry E. Adler Pt. VI. Experience of Other Countries: 29. Lessons from comparison of US and UK insolvency codes /​ Julian R. Franks and Walter N. Torous 30. The costs of corporate bankruptcy: a U.S.-European comparision /​ Michelle J. White 31. Should we abolish Chapter 11?: the evidence fro Japan /​ Theodore Eisenberg and Shoichi Tagashira 32. The role of banks in reducing the costs of financial distress in Japan /​ Takeo Hoshi, Anil Kashyap, and David Sharfstein N2 - "This collection is the first comprehensive selection of readings focusing on corporate bankruptcy. Its main purpose is to explore the nature and efficiency of corporate reorganization using interdisciplinary approaches drawn from law, economics, business, and finance. Substantive areas covered include the role of credit, directors' implicit bargains, nonbargaining features of bankruptcy, workouts of agreements, alternatives to bankruptcy, and proceedings in countries other than the United States, including the United Kingdom, Europe, and Japan. The editors' introductions guide readers through each of the six parts, comprised of edited versions of papers combined with editorial notes to reduce the time required to absorb key ideas."--BOOK JACKET UR - http://www.loc.gov/catdir/description/cam027/95013486.html UR - http://www.loc.gov/catdir/toc/cam025/95013486.html ER -