{"product_id":"corporate-financial-distress-restructuring-and-bankruptcy-isbn-9781119481805","title":"Corporate Financial Distress, Restructuring, and Bankruptcy","description":"\u003cp\u003e\u003cb\u003eA comprehensive look at the enormous growth and evolution of distressed debt markets, corporate bankruptcy, and credit risk models\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThis \u003ci\u003eFourth Edition\u003c\/i\u003e of the most authoritative finance book on the topic updates and expands its discussion of financial distress and bankruptcy, as well as the related topics dealing with leveraged finance, high-yield, and distressed debt markets. It offers state-of-the-art analysis and research on U.S. and international restructurings, applications of distress prediction models in financial and managerial markets, bankruptcy costs, restructuring outcomes, and more.\u003c\/p\u003e \u003cp\u003eAbout the Authors ix\u003c\/p\u003e \u003cp\u003eAcknowledgments xi\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One The Economic and Legal Framework of Corporate Restructuring and Bankruptcy\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1 Corporate Financial Distress: Introduction and Statistical Background 3\u003c\/p\u003e \u003cp\u003eChapter 2 An Introduction to Leveraged Finance 21\u003c\/p\u003e \u003cp\u003eChapter 3 An Overview of the U.S. Bankruptcy Process 39\u003c\/p\u003e \u003cp\u003eChapter 4 Restructuring Out-of-Court and the Cost of Financial Distress 71\u003c\/p\u003e \u003cp\u003eChapter 5 Valuation of Distressed Firms 91\u003c\/p\u003e \u003cp\u003eChapter 6 Corporate Governance in Distressed Firms 117\u003c\/p\u003e \u003cp\u003eChapter 7 Bankruptcy Outcomes 135\u003c\/p\u003e \u003cp\u003eChapter 8 International Evidence 147\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two High-Yield Debt, Prediction of Corporate Distress, and Distress Investing\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 9 The High-Yield Bond Market: Risks and Returns for Investors and Analysts 165\u003c\/p\u003e \u003cp\u003eChapter 10 A 50-Year Retrospective on Credit Risk Models, the Altman Z-Score Family of Models, and Their Applications to Financial Markets and Managerial Strategies 189\u003c\/p\u003e \u003cp\u003eChapter 11 Applications of Distress Prediction Models: By External Analysts 217\u003c\/p\u003e \u003cp\u003eChapter 12 Distress Prediction Models: Catalysts for Constructive Change-Managing a Financial Turnaround 235\u003c\/p\u003e \u003cp\u003eChapter 13 A Bottom-Up Approach to Assessing Sovereign Default Risk 245\u003c\/p\u003e \u003cp\u003eChapter 14 The Anatomy of Distressed Debt Markets 265\u003c\/p\u003e \u003cp\u003eChapter 15 Investing in Distressed Firm Securities 277\u003c\/p\u003e \u003cp\u003eChapter 16 Modeling and Estimating Recovery Rates 295\u003c\/p\u003e \u003cp\u003eReferences 315\u003c\/p\u003e \u003cp\u003eAuthor Index 335\u003c\/p\u003e \u003cp\u003eSubject Index 343\u003c\/p\u003e \u003cp\u003e\u003cb\u003eEDWARD I. ALTMAN\u003c\/b\u003e is the Max L. Heine Professor of Finance, Emeritus at New York University, Stern School of Business and Director of the Credit and Fixed Income Research Program at the NYU Salomon Center.\u003c\/p\u003e \u003cp\u003e\u003cb\u003eEDITH HOTCHKISS\u003c\/b\u003e is a Professor of Finance at the Carroll School of Management at Boston College. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eWEI WANG \u003c\/b\u003eis an Associate Professor and RBC Fellow of Finance, and Director of Master of Finance – Beijing program at the Smith School of Business at Queen’s University, Canada.  \u003c\/p\u003e\u003cp\u003eFor more than thirty-five years since Altman’s 1983 pioneering work, \u003ci\u003eCorporate Financial Distress, Restructuring, and Bankruptcy\u003c\/i\u003e has been the definitive guide to the science behind what happens when businesses fail. This fully revised, expanded, and updated \u003ci\u003eFourth Edition\u003c\/i\u003e gives experienced managers, advisors, investment professionals, and academic researchers and instructors, as well as students new to the field, state-of-the-art knowledge of restructuring practices, distressed debt and high yield bond and loan markets, credit analysis and default prediction.\u003c\/p\u003e \u003cp\u003eThis new edition reflects major market developments and progress made since the global financial crisis. Joining the iconic Edward Altman, the Stern School of Business professor who created the Z-score model half a century ago, Edith Hotchkiss and new contributor Wei Wang continue to provide the indepth coverage readers have relied on. The opening section of this volume examines the economic and legal framework of corporate bankruptcy and distressed restructurings and the leveraged finance market. Highlights of the expanded coverage of Section One include: \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eNewly added chapters examining leveraged finance, out-of-court restructurings, and international insolvency codes\u003c\/li\u003e \u003cli\u003eAn extensive stand-alone primer explaining the U.S. Chapter 11 process, providing an accessible summary of concepts important to legal, financial, and other professionals\u003c\/li\u003e \u003cli\u003eDiscussion of current issues and complexities in governance of distressed firms\u003c\/li\u003e \u003cli\u003eA guide for best practices in valuation of distressed firms\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eSection Two provides insights into the latest techniques for modeling credit risk, especially for risky debt market issuers. Highlights include: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eAn examination of risk and return in the high yield bond market\u003c\/li\u003e \u003cli\u003eA retrospective view of the Altman Z-score family of models and their use in practice over the last 50 years\u003c\/li\u003e \u003cli\u003eEstimation of default probabilities for both U.S. and sovereign issuers\u003c\/li\u003e \u003cli\u003eModeling and measuring recovery rates\u003c\/li\u003e \u003cli\u003eAnalytics for investing in distressed securities\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003eBased on the most current research and practice, \u003ci\u003eCorporate Financial Distress, Restructuring, and Bankruptcy, Fourth Edition\u003c\/i\u003e offers a comprehensive look at the rapidly evolving restructuring industry.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47988993884389,"sku":"NP9781119481805","price":100.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119481805.jpg?v=1761782352","url":"https:\/\/k12savings.com\/products\/corporate-financial-distress-restructuring-and-bankruptcy-isbn-9781119481805","provider":"K12savings","version":"1.0","type":"link"}