Abstract

http://ssrn.com/abstract=112728
 
 

Citations



 


 



Revenue Efficiency and Change of Control: The Case of Bankruptcy


Francesca Cornelli


London Business School; Centre for Economic Policy Research (CEPR)

Leonardo Felli


London School of Economics - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute); Centre for Economic Policy Research (CEPR)

August 1998

Rodney L. White Center for Financial Research, Working Paper No. 018-98

Abstract:     
The restructuring of a bankrupt company often entails a change of control. By efficiency of a bankruptcy procedure it is usually meant that the control is allocated into the hands of those who can maximize its value. In this paper we focus instead on how to allocate control with a procedure that allows the creditors to maximize their returns. The conclusion is that creditors should be allowed to retain a fraction of the shares of the company.

working papers series


Not Available For Download

Date posted: August 19, 1998  

Suggested Citation

Cornelli, Francesca and Felli, Leonardo, Revenue Efficiency and Change of Control: The Case of Bankruptcy (August 1998). Rodney L. White Center for Financial Research, Working Paper No. 018-98. Available at SSRN: http://ssrn.com/abstract=112728

Contact Information

Francesca Cornelli
London Business School ( email )
Sussex Place
Regent's Park
London, London NW1 4SA
United Kingdom
+44 20 7262 5050 x3225 (Phone)
+44 20 7724 3317 (Fax)
HOME PAGE: http://www.lbs.ac.uk/faculty/fcornelli/
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Leonardo Felli (Contact Author)
London School of Economics - Department of Economics ( email )
Houghton Street
London WC2A 2AE
United Kingdom
+44 20 7955 7525 (Phone)
+44 20 7831 1840 (Fax)
HOME PAGE: http://econ.lse.ac.uk/staff/lfelli/index_own.html
CESifo (Center for Economic Studies and Ifo Institute)
Poschinger Str. 5
Munich, DE-81679
Germany
Centre for Economic Policy Research (CEPR)
77 Bastwick Street
London, EC1V 3PZ
United Kingdom
Feedback to SSRN


Paper statistics
Abstract Views: 1,336

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo3 in 0.625 seconds