1996 Fiscal Year Final Research Report Summary
QUANTITATIVE RESEARCH FOR NEGOTIATIONS FOR THE REPAYMENT OF BAD DEBT
| Project/Area Number |
07803014
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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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, Professor, 商学部, 教授 (30181837)
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| Project Period (FY) |
1995 – 1996
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| Keywords | defaulted bonds / reorganization / bankruptcy / financial distress / liquidation / capital reduction / composition law / railway company |
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| Research Abstract |
The purpose of this study was to investigate the differences between the defaulted bonds and those of the narrowly escaped from default with respect to the results of the negotiation for the settlements of the debt repayment. Among the pre-war defaulted bonds, the railway industry was chosen for detailed investigation. The following results were obtained.
(1) In general the defaulted companies are financially worse than the non-defaulted companies.
(2) However, in some cases, the financial difference between the defaulted and the non-defaulted is almost negligible.
(3) There are some factors which might have influenced the negotiation. Those are (i)loans other than bonds,(ii)unpaid capital,(iii)capital reduction.
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