Essec\Faculty\Model\Contribution {#2216
  #_index: "academ_contributions"
  #_id: "2603"
  #_source: array:26 [
    "id" => "2603"
    "slug" => "the-choice-between-informal-and-formal-restructuring-the-case-of-french-banks-facing-distressed-smes"
    "yearMonth" => "2014-07"
    "year" => "2014"
    "title" => "The Choice Between Informal and Formal Restructuring: The Case of French Banks Facing Distressed SMEs"
    "description" => "BLAZY, R., MARTEL, J. et NIGAM, N. (2014). The Choice Between Informal and Formal Restructuring: The Case of French Banks Facing Distressed SMEs. <i>Journal of Banking & Finance</i>, 44, pp. 248-263."
    "authors" => array:3 [
      0 => array:3 [
        "name" => "MARTEL Jocelyn"
        "bid" => "B00000350"
        "slug" => "martel-jocelyn"
      ]
      1 => array:1 [
        "name" => "BLAZY R."
      ]
      2 => array:1 [
        "name" => "NIGAM N."
      ]
    ]
    "ouvrage" => ""
    "keywords" => array:3 [
      0 => "Banque"
      1 => "Faillite"
      2 => "Réorganisation"
    ]
    "updatedAt" => "2021-02-02 16:16:18"
    "publicationUrl" => "https://www.researchgate.net/publication/228317722_The_Choice_between_Informal_and_Formal_Restructuring_The_Case_of_French_Banks_Facing_Distressed_SMEs"
    "publicationInfo" => array:3 [
      "pages" => "248-263"
      "volume" => "44"
      "number" => null
    ]
    "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" => "Cet article examine le choix de PME françaises en difficultés financières entre la faillite et la réorganisation informelle. Les résultats empiriques montrent que la probabilité d'une réorganisation informelle augmente avec le montant du prêt et le pourcentage de la dette à long terme. De plus, la probabilité de succès en renégociation diminue lorsque i) la banque en charge du dossier est le créancier principal de l'entreprise et ii) l'entreprise à une mauvaise notation et que les dirigeants sont con sidérés comme fautifs. La présence de collatéral a un impact significatif sur la première étape du processus de renégociation mais n'influence pas la probabilité du succès en renégociation. Finalement, certaines banques affichent une meilleure performance que d'autres dans leur capacité à réussir un processus de renégociation."
      "en" => "This paper investigates the choice between bankruptcy and informal (out-of-court) renegotiations for a sample of small and medium-sized French firms in default. First, we find that the likelihood of informal renegotiations increases with loan size and the proportion of long-term debt. Second, the probability of a successful renegotiation decreases when (i) the bank in charge of handling the process is the debtor’s ‘‘main’’ creditor and when (ii) the firm is badly rated and its management is considered faulty. Third, collateral plays a significant role in the first stage of the renegotiation process. However, it does not impact the likelihood of success in reaching a renegotiated agreement. Finally, some banks are clearly better than others at leading successful renegotiation processes."
    ]
    "authors_fields" => array:2 [
      "fr" => "Finance"
      "en" => "Finance"
    ]
    "indexedAt" => "2024-11-21T11:21:49.000Z"
    "docTitle" => "The Choice Between Informal and Formal Restructuring: The Case of French Banks Facing Distressed SMEs"
    "docSurtitle" => "Journal articles"
    "authorNames" => "<a href="/cv/martel-jocelyn">MARTEL Jocelyn</a>, BLAZY R., NIGAM N."
    "docDescription" => "<span class="document-property-authors">MARTEL Jocelyn, BLAZY R., NIGAM N.</span><br><span class="document-property-authors_fields">Finance</span> | <span class="document-property-year">2014</span>"
    "keywordList" => "<a href="#">Banque</a>, <a href="#">Faillite</a>, <a href="#">Réorganisation</a>"
    "docPreview" => "<b>The Choice Between Informal and Formal Restructuring: The Case of French Banks Facing Distressed SMEs</b><br><span>2014-07 | Journal articles </span>"
    "docType" => "research"
    "publicationLink" => "<a href="https://www.researchgate.net/publication/228317722_The_Choice_between_Informal_and_Formal_Restructuring_The_Case_of_French_Banks_Facing_Distressed_SMEs" target="_blank">The Choice Between Informal and Formal Restructuring: The Case of French Banks Facing Distressed SMEs</a>"
  ]
  +lang: "en"
  +"_type": "_doc"
  +"_score": 8.442641
  +"parent": null
}