A real options approach to bankruptcy costs: Evidence from failed commercial banks during the 1990s

Journal of Business

Volumn 78, Issue 4, 2005, Pages 1523-1553

  Mason, Joseph R ^a  

^a DREXEL UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 27644501359     PISSN: 00219398     EISSN: None     Source Type: Journal    
DOI: 10.1086/430868     Document Type: Article

References (21)

1. Alderson, M. J., and B. L. Betker. 1995. Liquidation costs and capital structure. Journal of Financial Economics 39 (September): 45-69.
2. _. 1996. Liquidation costs and accounting data. Financial Management 25 (Summer): 25-36.
3. Calomiris, C. W., and C. M. Kahn. 1991. The role of demandable debt in structuring optimal banking arrangements. American Economic Review 81 (June): 497-513.
4. Calomiris, C. W., and J. R. Mason. 1997. Contagion and bank failures during the great depression: The June 1932 Chicago banking panic. American Economic Review 87 (December): 863-83.
5. _. 2003a. The consequences of bank distress during the Great Depression. American Economic Review 93 (June): 937-47.
6. _. 2003b. Fundamentals, panics and bank distress during the Depression. American Economic Review 93 (December): 1615-47.
7. Dixit, A. K., and R. S. Pindyck. 1994. Investment under uncertainty. Princeton, NJ: Princeton University Press.
8. Federal Deposit Insurance Corporation. 1997. History of the eighties - Lessons for the future. Washington, DC: Federal Deposit Insurance Corporation.
9. _. 1998. Managing the crisis: The FDIC and RTC experience 1980-1994. Washington, DC: Federal Deposit Insurance Corporation.
10. _. Various years. Failed bank cost analysis. Washington, DC: Federal Deposit Insurance Corporation.
11. _. Various years. Reports of condition and income. Washington, DC: Federal Deposit Insurance Corporation.
12. James, C. 1991. The losses realized in bank failures. Journal of Finance 46 (September): 1223-42.
13. Kane, E. J. 1990. Principal-agent problems in S&L salvage. Journal of Finance 45 (July): 755-64.
14. Kane, E. J.,and M. T. Yu. 1995. Measuring the true profile of taxpayer losses in the S&L insurance mess. Journal of Banking and Finance 19 (August): 1459-77.
15. Kiefer, N. M. 1988. Economic duration data and hazard functions. Journal of Economic Literature 26 (June): 646-79.
16. Kiyotaki, N., and J. Moore. 1997. Credit cycles. Journal of Political Economy 105 (April): 211-48.
17. Pulvino, T. C. 1998. Do asset fire sales exist: An empirical investigation of commercial aircraft transactions. Journal of Finance 53 (June): 939-78.
18. Shleifer, A., and R. W. Vishny. 1992. Liquidation values and debt capacity: A market equilibrium approach. Journal of Finance 47 (September): 1343-66.
19. Warner, J. B. 1977. Bankruptcy costs: Some evidence. Journal of Finance 32 (May): 337-47.
20. Weiss, L. A. 1990. Bankruptcy resolution: Direct costs and violation of priority of claims. Journal of Financial Economics 27 (October): 285-314.
21. Williamson, O. E. 1998. Corporate finance and corporate governance. Journal of Finance 43 (July): 567-91.