Now showing items 1-2 of 2

    • Sizing Up Corporate Restructuring in the COVID Crisis 

      Greenwood, Robin; Iverson, Benjamin; Thesmar, David
      In the wake of the COVID-19 pandemic, the financial and legal system will need to deal with a surge of financial distress in the business sector. Some firms will be able to survive, while others will face bankruptcy and ...
    • Vulnerable Banks 

      Greenwood, Robin Marc; Landier, Augustin; Thesmar, David (Elsevier, 2014-11-25)
      We present a model in which fire sales propagate shocks across bank balance sheets. When a bank experiences a negative shock to its equity, a natural way to return to target leverage is to sell assets. If potential buyers ...