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- Publications
- Influence
Management turnover and financial distress
- Stuart C. Gilson
- Business
- 1 December 1989
Abstract This study investigates senior management turnover in financially distressed firms. In any given year, 52% of sampled firms experience turnover if they are either in default on their debt,… Expand
Bankruptcy, boards, banks, and blockholders: Evidence on changes in corporate ownership and control when firms default
- Stuart C. Gilson
- Business, Economics
- 1 October 1990
Abstract In 111 publicly traded firms that either file for bankruptcy or privately restructure their debt between 1979 and 1985, bank lenders frequently become major stockholders or appoint new… Expand
Troubled debt restructurings*1: An empirical study of private reorganization of firms in default
- Stuart C. Gilson, Kose John, Larry H. P. Lang
- Business, Economics
- 1 October 1990
Abstract This study investigates the incentives of financially distressed firms to restructure their debt privately rather than through formal bankruptcy. In a sample of 169 financially distressed… Expand
Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms
- Stuart C. Gilson
- Economics
- 1 March 1997
This study provides evidence that transactions costs discourage debt reductions by financially distressed firms when they restructure their debt out of court. As a result, these firms remain highly… Expand
CEO Compensation in Financially Distressed Firms: An Empirical Analysis
- Stuart C. Gilson, Michael R. Vetsuypens
- Economics
- 1 June 1993
This paper studies senior management compensation policy in seventy-seven publicly traded firms that filed for bankruptcy or privately restructured their debt during 1981 to 1987. Almost one-third of… Expand
Analyst Specialization and Conglomerate Stock Breakups
- Stuart C. Gilson, P. Healy, Christopher F. Noe, K. Palepu
- Business
- 1 December 2001
type="main" xml:lang="en"> This paper examines whether firms emerging from conglomerate stock breakups are able to affect the types of financial analysts that cover their firms as well as the quality… Expand
Valuation of Bankrupt Firms
- Stuart C. Gilson, E. Hotchkiss, Richard S. Ruback
- Economics, Business
- 1 March 2000
This study compares the market value of firms that reorganize in bankruptcy with estimates of value based on management’s published cash flow projections. We estimate firm values using models that… Expand
Private Versus Public Debt: Evidence From Firms That Replace Bank Loans With Junk Bonds
- Stuart C. Gilson, J. Warner
- Economics
- 1 October 1998
We study firms that reduced private debt by repaying bank loans with proceeds from junk bonds. The debt contracts differ dramatically, and the contractual restrictions in bank debt are tighter.… Expand
Investing in Distressed Situations: A Market Survey
- Stuart C. Gilson
- Business
- 1 November 1995
The practice of investing in distressed companies is popularly known as “vulture” investing. The risks of investing in this market are highly firm specific and idiosyncratic. Investors who are adept… Expand
Creating Value Through Corporate Restructuring: Case Studies in Bankruptcies, Buyouts, and Breakups
- Stuart C. Gilson
- Economics
- 20 July 2001
A collection of case studies illustrates real-world techniques, implementation, and strategies on corporate restructuring
Over the period 1981-1998, public companies with combined assets of over… Expand
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