The Equity Performance of Companies that Emerge from Chapter 11 Bankruptcy Post Year 2000
- Lucente, Alec
- [University Park, Pennsylvania] : Pennsylvania State University, 2015.
- Physical Description:
- 1 electronic document
- Additional Creators:
- Gattis, Lou and Schreyer Honors College
- Restrictions on Access:
- Open Access.
- The study focuses on determining if companies that emerge from chapter 11 bankruptcy witness positive abnormal returns after they emerge from bankruptcy. The study examines 60 companies that emerge from chapter 11 bankruptcy after 2000 and uses the market model and CAPM to determine expected returns. The paper also aims to find the nominal relative performance, as of 12/31/2014, of emerging companies against the S&P 500 and its respective industry. The study found that companies that emerged from chapter 11 bankruptcy witnessed cumulative negative abnormal returns when using CAPM and the market model 250 days after emerging from bankruptcy. The study also found that total median and average nominal relative performance of the firms were negative compared to the S&P 500 and their respective sectors.
- Other Subject(s):
- Dissertation Note:
- B.S. Pennsylvania State University 2015.
- Technical Details:
- The full text of the dissertation is available as an Adobe Acrobat .pdf file ; Adobe Acrobat Reader required to view the file.
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