A Theory of Workouts and the Effects of Reorganization Law*

Theory of the firm: Managerial behavior, agency costs and ownership structure

1976 • 62,465 citations

Corporate financing and investment decisions when firms have information that investors do not have

1984 • 18,167 citations

Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers

1986 • 17,982 citations

Determinants of corporate borrowing

1977 • 13,054 citations

The effect of capital structure on a firm's liquidation decision

1984 • 1,537 citations

The role of banks in reducing the costs of financial distress in Japan

1990 • 1,216 citations

Troubled debt restructurings

1990 • 1,127 citations

An analysis of secured debt

1985 • 685 citations

An Empirical Investigation of U.S. Firms in Reorganization

1989 • 542 citations

The Logic and Limits of Bankruptcy Law

2001 • 521 citations

THE INSIGNIFICANCE OF BANKRUPTCY COSTS TO THE THEORY OF OPTIMAL CAPITAL STRUCTURE

1978 • 441 citations

The Bankruptcy Decision

1978 • 388 citations

The Uneasy Case for Corporate Reorganizations

1986 • 376 citations

The Resolution of Financial Distress

1989 • 254 citations

The Costs of Conflict Resolution and Financial Distress: Evidence from the Texaco-Pennzoil Litigation

1988 • 192 citations

Claimholder Incentive Conflicts in Reorganization: The Role of Bankruptcy Law

1989 • 174 citations

Financial Contracting and Leverage Induced Over‐ and Under‐Investment Incentives

1990 • 165 citations

Is There a Corporate Debt Crisis?

1988 • 149 citations

Original Issue High Yield Bonds: Aging Analyses of Defaults, Exchanges, and Calls

1989 • 149 citations

Bankruptcy and Debt: A New Model for Corporate Reorganization

1983 • 144 citations

Public Policy toward Bankruptcy: Me-First and Other Priority Rules

1980 • 122 citations

Bankruptcy Costs and the New Bankruptcy Code

1983 • 121 citations

Bankruptcy Costs and the New Bankruptcy Code

1983 • 100 citations

A Simple Noncooperative Bargaining Model of Corporate Reorganizations

1991 • 87 citations

Buybacks, Exit Bonds, and the Optimality of Debt and Liquidity Relief

1989 • 85 citations

The Voting Prohibition in Bond Workouts

1987 • 83 citations

LDC Debt: Forgiveness, Indexation, and Investment Incentives

1989 • 80 citations

Toward Undistorted Choice and Equal Treatment in Corporate Takeovers

1985 • 76 citations

The voting prohibition in bond workouts

1996 • 76 citations

U.S. Corporate Leverage: Developments in 1987 and 1988

1990 • 62 citations

Reorganization in bankruptcy and the issue of strategic risk

1983 • 35 citations

Cases, problems, and materials on bankruptcy

2007 • 30 citations

SOVEREIGN DEBT REPURCHASES: NO CURE FOR OVERHANG

1989 • 11 citations