Financial Distress and the Cross Section of Equity Returns

By Lorenzo Garlappi, Hongjun Yan. 2011

335 citations recorded by the source corpus.

Subfields: Accounting, Finance, Strategy and Management

View Paper: https://www.semanticscholar.org/paper/c651584a20bb2ab4788e3cc110e63cf4297b477e

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. N. Schürhoff
2. B. Nikolov
3. Josef Zechner
4. Erwan Morellec
5. Philip Valta
6. G. Favara
7. Christian Wagner
8. Brent Glover

In Finance

1. Erwan Morellec
2. Philip Valta
3. N. Schürhoff
4. G. Favara
5. Christian Wagner
6. Brent Glover
7. Niels Friewald
8. B. Nikolov

In Strategy and Management

1. N. Schürhoff
2. Josef Zechner
3. B. Nikolov
4. Erwan Morellec
5. Philip Valta
6. G. Favara
7. Christian Wagner
8. Brent Glover

Citations in the corpus

• The Cross-Section of Credit Risk Premia and Equity Returns (2013, methodology): “Extending this framework, Garlappi and Yan (2011) explicitly account for leverage, and allow for strategic default of shareholders to recover part of the residual firm value upon the resolution of financial distress.”
• The expected cost of default (2016, background): “Using risk-neutral 10Recent examples in this literature include Gomes and Schmid (2010), Garlappi and Yan (2010), Berk, Green, and Naik (1999), Carlson, Fisher, and Giammarino (2004), and Gomes, Kogan, and Zhang (2003), as well as the previously mentioned Bhamra, Kuehn, and Strebulaev (2009a,b),…”
• Corporate Governance and Capital Structure Dynamics (2012, positive): “Following Fan and Sundaresan (2000) and Garlappi and Yan (2011), we assume that in renegotiation shareholders get a fraction η of the renegotiation surplus.”
• Debt Enforcement, Investment, and Risk Taking Across Countries (2013, background): “(see Garlappi, Shu and Yan, 2008; Garlappi and Yan, 2011; and Hackbarth, Haselmann and Schoenherr, 2015) and outside the U.”