دانلود مقاله ISI انگلیسی شماره 147672
ترجمه فارسی عنوان مقاله

عوامل انتخاب رژیم ورشکستگی برای شرکت های خصوصی کانادایی

عنوان انگلیسی
Determinants of bankruptcy regime choice for Canadian public firms
کد مقاله سال انتشار تعداد صفحات مقاله انگلیسی
147672 2017 30 صفحه PDF
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Research in International Business and Finance, Volume 42, December 2017, Pages 161-172

پیش نمایش مقاله
پیش نمایش مقاله  عوامل انتخاب رژیم ورشکستگی برای شرکت های خصوصی کانادایی

Distressed Canadian public firms usually file for bankruptcy protection under either the Bankruptcy and Insolvency Act (BIA) or the more flexible Companies Creditors Arrangement Act (CCAA). The latter targets reorganization while the BIA focuses on both reorganization and liquidation. This paper examines the factors that enter into the choice of either of these two regimes by bankrupt filing public firms. We document that firms are more likely to file under the CCAA when the global stock market is bullish. Larger firms, more leveraged firms and firms with higher quality bankruptcy trustees are more likely to file under CCAA. The worst performing firms also tend to file under the CCAA. Finally firms in Ontario and Quebec have a tendency to file more frequently under the BIA compared to other provinces.