Artikel
Costs of Financial Distress: The German Evidence
Costs of Financial Distress: The German Evidence In this paper we aim to verify the existence of costs of financial distress (cfd) for a sample of German CDAX firms using an ex-post approach originally due to Opler/Titman (1994). In contrast to this US-based study we do not find a significant interaction between high leverage and distress for German firms: firms in distressed industries with high ex ante leverage do not display lower sales growth than their ex-ante lower levered counterparts. (JEL G32, G33)
- Language
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Englisch
- Bibliographic citation
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Journal: Kredit und Kapital ; ISSN: 1865-5734 ; Volume: 42 ; Year: 2009 ; Issue: 1 ; Pages: 93-123
- Classification
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Wirtschaft
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Bankruptcy; Liquidation
- Event
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Geistige Schöpfung
- (who)
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Reimund, Carsten
Schwetzler, Bernhard
Zainhofer, Florian
- Event
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Veröffentlichung
- (who)
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Duncker & Humblot
- (where)
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Berlin
- (when)
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2009
- DOI
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doi:10.3790/kuk.42.1.93
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Artikel
Associated
- Reimund, Carsten
- Schwetzler, Bernhard
- Zainhofer, Florian
- Duncker & Humblot
Time of origin
- 2009
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