Bank relationships and the likelihood of filing for reorganization

被引：8

作者：

Huang, Jiang-Chuan ^{[1
]}

Huang, Chin-Sheng ^{[2
]}

You, Chun-Fan ^{[1
]}

机构：

[1] TransWorld Univ, Dept Finance, Douliu City 640, Yunlin County, Taiwan

[2] Natl Yunlin Univ Sci & Technol, Dept Finance, Yunlin, Taiwan

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2015年 / 35卷

关键词：

Bank relationship; Reorganization; Financial distress; Duration analysis; LENDING RELATIONSHIPS; FINANCIAL DISTRESS; BANKRUPTCY; FIRMS; CHAPTER-11; DURATION; CREDIT; MATTER; FILE; RISK;

D O I：

10.1016/j.iref.2014.10.007

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the effects of bank relationships on the likelihood and duration of the decision to file for reorganization for a sample of Taiwanese firms in default We find that bank relationships significantly influence the likelihood and duration of a firm's decision on filing for reorganization. Firms with strong bank relationships exhibit significantly decreased likelihood of filing for reorganization and increased length of time needed for making the decision. The findings suggest that in a bank-oriented financial system where banks are the dominant providers of capital, bank relationships better enhance informational advantages for banks and reduce coordination problems among banks, which limits firm filings for costly reorganizations. (C) 2014 Elsevier Inc. All rights reserved.

引用

页码：278 / 291

页数：14

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