Research on Equity Refinancing, Debt Restructuring and Firm Pricing Based on Financial and Economic Distress
Tan Chunping, Qin Xuezhi, Wang Lin
Available Online 20 December 2019.
- https://doi.org/10.2991/aebmr.k.191217.044How to use a DOI?
- Financial distress, Economic distress, Equity refinancing, Debt restructuring
- This paper distinguishes financial and economic distress, and gives a comprehensive solution to firm’s distress by means of integrative equity refinancing and debt restructuring. It constructs a model to price the firm under different financial conditions,especially when the liquidation value is less than 0. In the model, the relationships among financial distress, economic distress, equity refinancing, debt restructuring and renegotiation are clarified. The optimal restructuring boundary is also determined endogenously by maximizing the interests of both shareholders and creditors with the viewpoint of harmony.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Tan Chunping AU - Qin Xuezhi AU - Wang Lin PY - 2019 DA - 2019/12/20 TI - Research on Equity Refinancing, Debt Restructuring and Firm Pricing Based on Financial and Economic Distress BT - Proceedings of the 2019 International Conference on Economic Management and Cultural Industry (ICEMCI 2019) PB - Atlantis Press SP - 243 EP - 249 SN - 2352-5428 UR - https://doi.org/10.2991/aebmr.k.191217.044 DO - https://doi.org/10.2991/aebmr.k.191217.044 ID - Chunping2019 ER -