1994 Fiscal Year Final Research Report Summary
NEGOTIATIONS FOR THE SETTLEMENTS OF THE DEFAULTED CORPORATE BONDS- COMPILING THE RECORDS OF THE DEFAULTED BONDS COVERED THE PREWAR PERIOD AND STATISTICAL,THEORETICAL ANALYSIS-
| Project/Area Number |
05630074
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| Research Category |
Grant-in-Aid for General Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Research Field |
Business administration
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| Research Institution | Yokohama City University |
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Principal Investigator |
MARUYAMA Hiroshi YOKOHAMA CITY UNIVERSITY,FACULTY OF ECONOMICS AND BUSINESS ADMINISTRATION,ASSOCIATE PROFESSOR, 商学部, 助教授 (30181837)
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| Project Period (FY) |
1993 – 1994
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| Keywords | SETTLEMENT OF BONDS / DEFAULTED BONDS / BOND MARKET / THE PURIFICATION MOVEMENT OF THE BOND MARKET / INDENTURE TRUSTEE / GRACE OF PAYMENT / COMPOSITION LAW / BANKRUPTCY LAW |
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| Research Abstract |
Compiling various reoords of corporate bonds covered the period from 1909 to 1940, the data-base on defaulted corporate bonds has been completed. Also, for the purpose of comparison with the defaulted bonds, the data-base of all corporate bonds for the above mentioned period, as well as the data-base of the financial statistics of general companies have been made.
The following results were obtained.
(1) The number of the defaulted bonds is 169. The number of the firms which issued those defaulted bonds is 102.
(2) Among the defaulted bonds, the number of the secured debenture is 39.
(3) Among the firms which issued defaulted bonds, about 40% are medium- and small-sized firms.
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