Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "624"
  #_source: array:26 [
    "id" => "624"
    "slug" => "an-empirical-analysis-of-the-firms-reorganization-decision"
    "yearMonth" => "2009-01"
    "year" => "2009"
    "title" => "An Empirical Analysis of the Firm's Reorganization Decision"
    "description" => "FISHER, T.C.G. et MARTEL, J. (2009). An Empirical Analysis of the Firm's Reorganization Decision. <i>Finance</i>, 30(1), pp. 121-149."
    "authors" => array:2 [
      0 => array:3 [
        "name" => "MARTEL Jocelyn"
        "bid" => "B00000350"
        "slug" => "martel-jocelyn"
      ]
      1 => array:1 [
        "name" => "FISHER T. C.G."
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:3 [
      0 => "Faillite"
      1 => "Liquidation"
      2 => "Réorganisation"
    ]
    "updatedAt" => "2020-12-17 17:55:06"
    "publicationUrl" => null
    "publicationInfo" => array:3 [
      "pages" => "121-149"
      "volume" => "30"
      "number" => "1"
    ]
    "type" => array:2 [
      "fr" => "Articles"
      "en" => "Journal articles"
    ]
    "support_type" => array:2 [
      "fr" => "Revue scientifique"
      "en" => "Scientific journal"
    ]
    "countries" => array:2 [
      "fr" => null
      "en" => null
    ]
    "abstract" => array:2 [
      "fr" => "Le cadre théorique proposé par Bulow & Shoven et ensuite par White constitue le fondement de l'analyse du choix des entreprises insolvables entre la liquidation te la réorganisation. Or, ce cadre n'a jamais fait l'objet d'études empiriques. A partir d'une base de données d'entreprises canadiennes insolvables, nous estimons que la probabilité qu'une entreprise opte pour la réorganisation augmente avec le montant des actifs non garantis, le pourcentage de réduction de la dette non garantie et la taille de l'entreprise alors qu'elle diminue avec la valeur de liquidation des actifs. De plus, le choix de la réorganisation dépend d'autres facteurs tels la proportion des créances gouvenementales, du statut juridique de l'entreprise et du ratio actif/passif."
      "en" => "While the bankruptcy framework induced by the seminal work of Bulow & Shoven and White has been the foundation for theoretical work for the last 20 years, it has never been tested. Based on a data set of 640 Canadian insolvent firms, we find that the probability of reorganization increases with the level of free assets, the amount of debt reduction and the firm size while it decreases with the firm's liquidation value. The decision to reorganize also depends on other factors such as the proportion of government claims, the legal form of the firm and the asset/debt ratio."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-11-21T11:21:49.000Z"
    "docTitle" => "An Empirical Analysis of the Firm's Reorganization Decision"
    "docSurtitle" => "Journal articles"
    "authorNames" => "<a href="/cv/martel-jocelyn">MARTEL Jocelyn</a>, FISHER T. C.G."
    "docDescription" => "<span class="document-property-authors">MARTEL Jocelyn, FISHER T. C.G.</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2009</span>"
    "keywordList" => "<a href="#">Faillite</a>, <a href="#">Liquidation</a>, <a href="#">Réorganisation</a>"
    "docPreview" => "<b>An Empirical Analysis of the Firm's Reorganization Decision</b><br><span>2009-01 | Journal articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="#" target="_blank">An Empirical Analysis of the Firm's Reorganization Decision</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.953466
  +"parent": null
}