IDEAS home Printed from https://ideas.repec.org/a/cai/finpug/fina_282_0043.html
   My bibliography  Save this article

Business Risk Targeting and Rescheduling of Distressed Debt

Author

Listed:
  • Franck Moraux
  • Patrick Navatte

Abstract

Cet article reconsidère le rééchelonnement de la dette en détresse et la période précédant la réorganisation financière. Il met en lumière le fait que la valeur des capitaux propres de la firme réorganisée est une fonction (quasi) concave de la volatilité des actifs de la firme. Il existe une stratégie optimale pour les actionnaires consistant à fixer adéquatement le niveau de risque des affaires. Des simulations montrent que la modification ne conduit pas nécessairement à des coûts d?opportunité pour les créanciers. Nous abordons également la question du timing de l?ajustement et celle du pouvoir de négociation des deux parties. Pour l?essentiel, ces extensions démontrent la robustesse de nos conclusions précédentes.

Suggested Citation

  • Franck Moraux & Patrick Navatte, 2007. "Business Risk Targeting and Rescheduling of Distressed Debt," Finance, Presses universitaires de Grenoble, vol. 28(2), pages 43-78.
    • Handle: RePEc:cai:finpug:fina_282_0043
    as

    Download full text from publisher

    File URL: https://www.cairn.info/load_pdf.php?ID_ARTICLE=FINA_282_0043
    Download Restriction: free
    File URL: https://www.cairn.info/revue-finance-2007-2-page-43.htm
    Download Restriction: free
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. repec:ipg:wpaper:2014-331 is not listed on IDEAS
    2. Moraux, Franck & Navatte, Patrick, 2015. "How do reservation prices impact distressed debt rescheduling?," Economic Modelling, Elsevier, vol. 46(C), pages 269-282.
    3. N. Letifi & J.-L. Prigent, 2014. "On the debt capacity of growth and decay options," Working Papers 2014-391, Department of Research, Ipag Business School.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cai:finpug:fina_282_0043. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Jean-Baptiste de Vathaire (email available below). General contact details of provider: https://www.cairn.info/revue-finance.htm .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.