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dc.contributor.authorBebchuk, Lucian Arye
dc.date.accessioned2013-12-10T14:02:36Z
dc.date.issued2000
dc.identifier.citationLucian A. Bebchuk, Using Options to Divide Value in Corporate Bankruptcy, 44 Eur. Econ. Rev. 829 (2000).en_US
dc.identifier.issn0014-2921en_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:11363036
dc.description.abstractThis paper revisits the proposal to use options in corporate bankruptcy that was put forward in Bebchuk (1988). According to the proposed procedure, corporate bankruptcy should be implemented through the distribution to participants of appropriately designed options. The paper starts by discussing the goals that should guide the design of bankruptcy procedures. The paper then explains how the options procedure can improve both ex post efficiency and ex ante efficiency. The paper offers a refined version of the procedure, and it also responds to questions that have been raised regarding the execution and desirability of the procedure. The paper concludes by explaining the relationship between the options approach to corporate bankruptcy and the Black-Scholes characterization of all corporate securities as options.en_US
dc.language.isoen_USen_US
dc.publisherElsevieren_US
dc.relation.hasversionhttp://www.law.harvard.edu/faculty/bebchuk/pdfs/nber7614.00.pdfen_US
dc.relation.hasversionhttp://www.nber.org/papers/w7614en_US
dash.licenseMETA_ONLY
dc.titleUsing Options to Divide Value in Corporate Bankruptcyen_US
dc.typeJournal Articleen_US
dc.description.versionVersion of Recorden_US
dc.relation.journalEuropean Economic Reviewen_US
dash.depositing.authorBebchuk, Lucian Arye
dash.embargo.until10000-01-01
dash.contributor.affiliatedBebchuk, Lucian


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