Richard Frankel

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  • Efraim Benmelech, Nittai Bergman, Anna Milanez, Vladimir Mukharlyamov, Douglas Baird, Bo Becker +21 others
  • 2014
This paper identifies a new channel through which bankrupt firms impose negative externalities on non-bankrupt peers. The bankruptcy and liquidation of a retail chain weakens the economies of agglomeration in any given local area, reducing the attractiveness of retail centers for remaining stores leading to contagion of financial distress. We find that(More)
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