Corporate Financial Distress, Restructuring, and Bankruptcy

✍ Scribed by Altman, Edward;Hotchkiss, Edith;Wang, Wei

Publisher: Wiley
Year: 2019
Tongue: English
Edition: 4th edition
Category: Library

No coin nor oath required. For personal study only.

✦ Synopsis

A comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models This Fourth Edition of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.

✦ Table of Contents

About the Authors ixAcknowledgments xiPreface xiiiPart One The Economic and Legal Framework of Corporate Restructuring and BankruptcyChapter 1 Corporate Financial Distress: Introduction and Statistical Background 3Chapter 2 An Introduction to Leveraged Finance 21Chapter 3 An Overview of the U.S. Bankruptcy Process 39Chapter 4 Restructuring Out-of-Court and the Cost of Financial Distress 71Chapter 5 Valuation of Distressed Firms 91Chapter 6 Corporate Governance in Distressed Firms 117Chapter 7 Bankruptcy Outcomes 135Chapter 8 International Evidence 147Part Two High-Yield Debt, Prediction of Corporate Distress, and Distress InvestingChapter 9 The High-Yield Bond Market: Risks and Returns for Investors and Analysts 165Chapter 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 189Chapter 11 Applications of Distress Prediction Models: By External Analysts 217Chapter 12 Distress Prediction Models: Catalysts for Constructive Change-Managing a Financial Turnaround 235Chapter 13 A Bottom-Up Approach to Assessing Sovereign Default Risk 245Chapter 14 The Anatomy of Distressed Debt Markets 265Chapter 15 Investing in Distressed Firm Securities 277Chapter 16 Modeling and Estimating Recovery Rates 295References 315Author Index 335Subject Index 343

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