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    A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy

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    Gan_Sabarwal-2005_Adverse-Events-Strategic-Consumer-Bankruptcy.pdf (257.5Kb)
    Issue Date
    2012-04-18
    Author
    Gan, Li
    Sabarwal, Tarun
    Type
    Working Paper
    Published Version
    http://www.nber.org/papers/w11763
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    Abstract
    A test of adverse events and strategic timing theories can be conducted by determining whether some relevant financial decision variables, such as financial benefit from filing for bankruptcy, or debt discharged in bankruptcy are endogenous with the bankruptcy decision or not. For the strategic timing theory such decisions are endogenous, while for the adverse events theory they are not. Hausman tests for endogeneity show that financial benefit, unsecured debt, and non-exempt assets are exogenous with the bankruptcy decision, consistent with the adverse events theory.
    Description
    Gan, Li and Sabarwal, Tarun, (2005), A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy, No 11763, NBER Working Papers, National Bureau of Economic Research, Inc. This working paper is ©2005 by Li Gan and Tarun Sabarwal. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source.
    URI
    http://hdl.handle.net/1808/9073
    DOI
    https://doi.org/10.3386/w11763
    Collections
    • Economics Scholarly Works [183]
    Citation
    Gan, Li and Sabarwal, Tarun, (2005), A Simple Test of Adverse Events and Strategic Timing Theories of Consumer Bankruptcy, No 11763, NBER Working Papers, National Bureau of Economic Research, Inc.

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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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