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Corporate Financial Distress and Bankruptcy: Predict and Avoid Bankruptcy, Analyze and Invest in Distressed Debt, 3rd Edition

Corporate Financial Distress and Bankruptcy: Predict and Avoid Bankruptcy, Analyze and Invest in Distressed Debt, 3rd Edition

Edward I. Altman, Edith Hotchkiss

ISBN: 978-1-118-04604-3

Mar 2010

368 pages

$71.99

Description

A comprehensive look at the enormous growth and evolution of distressed debt, corporate bankruptcy, and credit risk default

This Third Edition of the most authoritative finance book on the topic updates and expands its discussion of corporate distress and bankruptcy, as well as the related markets dealing with high-yield and distressed debt, and offers state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, the post-emergence period performance of bankrupt firms, and more.

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Preface.

Acknowledgments.

About the Authors.

PART ONE: The Legal, Economic, and Investment Dimensions of Corporate Bankruptcy and Distressed Restructurings.

Chapter 1: Corporate Distress: Introduction and Statistical Background.

Chapter 2: Evolution of the Bankruptcy Process in the United States and International Comparisons.

Chapter 3: Post–Chapter 11 Performance.

Chapter 4: The Costs of Bankruptcy.

Chapter 5: Distressed Firm Valuation.

Chapter 6: Firm Valuation and Corporate Leveraged Restructuring.

Chapter 7: The High Yield Bond Market: Risks and Returns for Investors and Analysts.

Chapter 8: Investing in Distressed Securities.

Chapter 9: Risk-Return Performance of Defaulted Bonds and Bank Loans.

Chapter 10: Corporate Governance in Distressed Firms.

PART TWO: Techniques for the Classification and Prediction of Corporate Financial Distress and Their Applications.

Chapter 11: Corporate Credit Scoring–Insolvency Risk Models.

Chapter 12: An Emerging Market Credit Scoring System for Corporates.

Chapter 13: Application of Distress Prediction Models.

Chapter 14: Distress Prediction Models: Catalysts for Constructive Change—Managing a Financial Turnaround.

Chapter 15: Estimating Recovery Rates on Defaulted Debt.

References.

Author Index.

Subject Index.

In this newly revised edition, credit and corporate bankruptcy experts Ed Altman and Edith Hotchkiss will update and expand upon all of these markets and issues. In addition to expanded empirical and descriptive aspects of bankruptcy and credit analysis, they offer state-of-the-art analysis and research on the costs of bankruptcy, credit default prediction, bankruptcy and distressed restructuring, and the post-emergence period performance of bankrupt firms.