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Current Interests
Here are the topics I'm currently interested in studying...
The woes of Japanese banks, followed by Russia's default in 1998 and the ensuing recent global financial crisis have again brought high leverage, financial distress, and its resolution through financial restructurings to the forefront. This raises the question whether debtor states and institutions benefit from such troubled debt restructurings. My main research interest lies in examining covenant violation, debt payment default or bankruptcy, how this predicament is prevented or resolved through concessions given by the creditors, and how ex-ante firm characteristics impact successful resolution of financial distress. I am also interested in examining the short-term and long-term wealth effects of such private workouts, especially for the shareholders, managers and creditors of the company. Furthermore, I am interested in financial reporting issues related to debt restructurings. Specifically, I am interested in investigating the political nature of standard setting and the economic consequences arguments used by lobbying parties that try to influence the promulgations of the accounting rule making institutions. |
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