Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines

By Efraim Benmelech, Nittai K. Bergman. 2008

208 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/03ee7ced72c9a4a237e3371d786a5ecf97d921cf

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Citations in the corpus

Renegotiation of Financial Contracts: Evidence from Private Credit Agreements (2009, unknown): “Related, studies by Gilson (1990), Gilson, John, and Kang (1990), Asquith, Gertner, and Scharfstein (1994), and Benmelech and Bergman (2008) study the outcome of ex post bargaining in payment default and bankruptcy.”
Incomplete Contracts and Control (2017, result): “Empirical support for both these predictions has been obtained by Benmelech (2009) and Benmelech and Bergman (2008).14 Second, the model has the feature that inefficient liquidation can occur.”
Debt Covenant Renegotiations and Creditor Control Rights (2014, unknown): “1988 and Benmelech and Bergman 2008). The fact that most of these renegotiations involve the relaxation of existing covenant limits is consistent with the prediction in Garleanu and Zwiebel (2009) that creditors will be given strong ex ante decision rights - i.”
Fire Sales in Finance and Macroeconomics (2011, unknown): “Benmelech and Bergman (2008) take advantage of the fact that, in the United States, the acquisition of airplanes by airlines is often financed by individual plane debt contracts.”
Financial Contracting: A Survey of Empirical Research and Future Directions (2009, background): “A related article by Benmelech and Bergman (2008) focuses on how liquidation value of collateral affects renegotiation.”
Anticompetitive Effects of Common Ownership (2018, unknown): “Benmelech and Bergman (2008) study corporate finance questions using the airline industry as a laboratory.”
The Role of Trading Frictions in Real Asset Markets (2011, background): “(55)The conditions are obtained by combining equations (12), (14) and (9), and equations (13), (15) and (10), respectively.”
The Role of Dynamic Renegotiation and Asymmetric Information in Financial Contracting (2015, unknown): “More broadly, my study is related to a number of papers examining renegotiation in technical default (see studies mentioned in footnote 2) and payment default (e.g., Asquith, Gertner, and Scharfstein, 1994; Benmelech and Bergman, 2008).”
Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide (2014, background): “9 See, among others, recent research by Benmelech and Bergman (2008) and Roberts and Sufi (2009) in the context of corporate default, and Matvos (2013) for renegotiation in NFL football contracts.”