The first essay tests whether Chapter 11 restructuring outcomes are affected by time constraints in busy bankruptcy courts. Using the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005 as an exogenous shock to court caseloads, I estimate the impact of bankruptcy caseload changes on the outcomes of firms in Chapter 11. I find that as bankruptcy judges become busier they tend to allow more firms to reorganize. Firms that reorganize in busy courts spend longer in bankruptcy, while firms that are dismissed from busy courts are more likely to re-file for bankruptcy within three years of their original filing. In addition, busy courts impose costs on local banks, which report higher charge-offs on business lending when caseload increases. Using novel data that has complete coverage of claims for 136 Chapter 11 bankruptcy protection filings and that includes detailed information on claims transfers, in the second essay we provide the first empirical insight on how a firm's ownership changes during the bankruptcy process and how these changes impact bankruptcy outcomes. Pre-bankruptcy ownership concentration is important for the coordination of a prearranged bankruptcy filing and is associated with a faster bankruptcy resolution and a higher likelihood of a successful reorganization. However, as the trading of claims in bankruptcy concentrates ownership further, the probability of liquidation increases and recovery rates decrease. The third essay studies whether prize-linked savings (PLS) accounts, which offer random, lottery-like payouts to account holders in lieu of risk-free interest, can aid individuals in increasing savings levels by adding the chance to "win big." Using micro-level data, we show that PLS is attractive to a broad group of individuals across all age, race, and income levels. We find that financially constrained individuals and those with no other deposit accounts are particularly likely to open a PLS account. Participants in the PLS program increased their total savings on average by 1.1% of annual income, a 31% increase form the mean level of savings. Deposits in PLS do not cannibalize savings in standard savings products. Instead, PLS appears to act as a substitute for lottery gambling.

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Bakalauro darbe pritaikomi įvairūs bankroto prognozavimo modeliai bei apskaičiuoti bankrotą labiausiai įtakojantys finansiniai santykiniai rodikliai. Pirmojoje darbo dalyje analizuojama bankroto esmė, požymiai, priežastys ir pasekmės, daugėlis bankroto prognozavimo modelių, santykinių rodiklių sistemos prognozuojant bankroto tikimybę. Antroje darbo dalyje analizuojamos pirmoje dalyje pateiktų: Altman, G. Springate, R. Liss, R. Taffler ir H. Tisshaw, J. Fulmer ir Ca – Score bankroto prognozavimo modelių pritaikymo skirtinguose sektoriuose veikiančioms įmonėms galimybės, įvertinta pelningumo ir mokumo santykinių rodiklių ryšys su bankroto prognozavimo modeliais. Apskaičiuotas koreliacinis ryšys tarp pelningumo ir mokumo rodiklių bei bankroto prognozavimo modelių. / Bachelor of science in a variety of bankruptcy prediction at work everyday, and calculate the bankruptcy of most models affecting financial relatives. The first part examines the essence of the work of the bankruptcy, symptoms, causes and consequences of bankruptcy prediction models, daugėlis, relative indicators system for predicting the likelihood of bankruptcy. The second part of the first part of the work is analyzed by the following: E. Altman, G. Springate, R. Liss, R. Taffler and H. Tisshaw, J. Fulmer and CA-Score bankruptcy prediction models for the adaptation of undertakings active in the different sectors, estimated profitability and solvency relative indicators in relation to the bankruptcy prediction models. Estimated correlation link between profitability and solvency of indicators and bankruptcy prediction models.

Magistro darbe išanalizuoti ir susisteminti Lietuvos bei užsienio autorių teoriniai ir praktiniai tyrimai, susiję su įmonių bankroto požymiais, priežastimis ir pasekmėmis. Išnagrinėti įvairūs bankroto grėsmės prognozavimo modeliai. Atlikta nuosekli bankrotus Lietuvoje reglamentuojančių įstatymų palyginamoji analizė. Apibendrinti dinaminiai šalies bankrotų skaičiaus pokyčiai. Taip pat įvertinti makroekonominių rodiklių bei bankrotų skaičiaus sąryšiai ir pateiktos prognozės. Atliktas bankrotų prognozavimo modelių tyrimas, kuriuo remiantis patvirtinta autorių suformuluota mokslinio tyrimo hipotezė, kad nėra vieno universalaus, tinkančio visoms įmonėms bankroto prognozavimo modelio. Remiantis atliktu tyrimu, išskirti tinkamiausi bankroto prognozavimo modeliai kiekvienai įmonių grupei. / There are analyzed and systematized theoretical and practical researches into evidences, reasons and results of companies’ bankruptcy conducted by various Lithuanian and foreign authors in this master’s final paper. There are explored various bankruptcy prediction models. There is made consistent comparable analysis of laws regulated Lithuanian bankruptcy. In this master’s final paper are summarized dynamic alterations of state’s bankruptcy number. Also there are estimated relations between macro economical indicators and bankruptcy number and there are proposed prognoses. It is made research of bankruptcy prediction models according which is confirmed by paper’s authors formulated scientific research hypothesis that there is no one universal, suitable for all companies bankruptcy prediction model. According to made research there are discerned most appropriate bankruptcy prediction models for every group of companies.

Zugl.: Regensburg, Univ., Diss., 2008

Thesis (M.A.)--Carleton University, 1999. / Also available in electronic format on the Internet.

Zugl.: Tübingen, Universiẗat, Diss., 2005.

Thesis (Ph. D.)--University of Missouri-Columbia, 2000. / Typescript. Vita. Includes bibliographical references (leaves 160-171). Also available on the Internet.

The aim of the diploma thesis is to introduce suitable instruments for measuring the market position of the company based on multi-criteria decision-making. To introduce regular rankings of companies in professional journals and on the Internet. The main aim was to make comparison of five companies in the Czech Republic and build their resulting ranking based on financial and non-financial indicators. Selected companies have the same subject of business, form and size. For comparison there was set a model which included four financial and two non-financial indicators. Financial indicators have been selected from the area of profitability, liquidity, aktivity and indebtedness. Afterwards, the market positions of companies were calculated by mathematical-static method. The financial situation was identified also by profit and bankruptcy models.