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dc.contributor.authorOrbe Lizundia, Jesús María
dc.contributor.authorFerreira García, María Eva
dc.contributor.authorNúñez Antón, Vicente Alfredo
dc.date.accessioned2011-12-28T10:22:28Z
dc.date.available2011-12-28T10:22:28Z
dc.date.issued2001-01
dc.identifier.issn1134-8984
dc.identifier.urihttp://hdl.handle.net/10810/5783
dc.description.abstractThis paper investigates original issuers of high yield bonds in Chapter 11 bankruptcy to determine which factors affect the length of time spent in Chapter 11. In order to do this analysis we propose a flexible new duration model, the censored partial regression model. This model allows us to consider the effect of some variable on the duration using a nonparametric functional form. We find that the choice of prepackaged Chapter 11, the length of time negotiating before filling for Chapter 11, the profitability, the highly leveraged transactions, the participation on different disputes, the role of vulture funds and some institutional changes turn out to be relevant to analyze this duration.es
dc.description.sponsorshipThis work was partially supported by Universidad del País Vasco/Euskal Herriko Unibertsitatea (UPV/EHU), Dirección General de Enseñanza Superior e Investigación Científica del Ministerio Español de Educación y Cultura and Gobierno Vasco under research grants UPV 038.321-HA129/99, PB98-0149, PI-1999-70 and PI-1999-46.es
dc.language.isoenges
dc.relationinfo:eu-repo/grantAgreement/MEC/PB98-0149
dc.relationinfo:eu-repo/grantAgreement/MEC/PI1999-70
dc.relationinfo:eu-repo/grantAgreement/MEC/PI1999-46
dc.relation.ispartofseriesBiltoki 2001.01
dc.rightsinfo:eu-repo/semantics/openAccesses
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/3.0/*
dc.subjectlifetime data modelses
dc.subjectcensorshipes
dc.subjectKaplan-Meieres
dc.subjectbootstrapes
dc.subjectnonparametric estimationes
dc.titleAnalysis of Length of Time Spent in Chapter 11 Bankruptcyes
dc.typeinfo:eu-repo/semantics/workingPaperes
dc.rights.holderAttribution-NonCommercial-ShareAlike 3.0 Unported*
dc.subject.jelC41es
dc.subject.jelG33
dc.identifier.repecRePEc:ehu:biltok:200101es
dc.departamentoesEconomía aplicada III (Econometría y Estadística)es_ES
dc.departamentoeuEkonomia aplikatua III (ekonometria eta estatistika)es_ES
dc.subject.categoriaMATHEMATICAL AND QUANTITATIVE METHODS
dc.subject.categoriaFINANCIAL ECONOMICS


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Attribution-NonCommercial-ShareAlike 3.0 Unported
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-ShareAlike 3.0 Unported