Contributors

Foreword

Preface

Acknowledgments

Introduction -- Corporate Bankruptcy and Financial Markets: An Overview

Part I: Distress Prediction Models and Some Applications

Predicting Financial Distress of Companies: Revisiting the Z-Score and ZETA® Models

Introducing Recursive Partitioning for Financial Classification: The Case of Financial Distress

Corporate Distress Diagnosis: Comparisons Using Linear Discriminant Analysis and Neural Networks (The Italian Experience)

Business Failure Classification Models: An International Survey

Emerging Market Corporate Bonds -- A Scoring System

Managing a Return to Financial Health

Valuation, Loss Reserves, and Pricing of Commercial Loans

An Economic and Statistical Analysis of The Failing Company Doctrine

Part II: Credit Risk Management

Credit-Risk Measurement and Management: The Ironic Challenge in the Next Decade

Credit Risk Measurement: Developments Over the Last 20 Years

Measuring Corporate Bond Mortality and Performance

Default Rates in the Syndicated Bank Loan Market: A Mortality Analysis

Almost Everything You Wanted to Know About Recoveries on Defaulted Bonds

Do Seniority Provisions Protect Bondholders' Investments?

Aggregate Influences on Business Failure Rates

An Analysis and Critique of the BIS Proposal on Capital Adequacy and Ratings

Part III: High Yield ``Junk'' Bonds and Distressed Securities

The Default Rate Experience on High-Yield Corporate Debt

A Yield Premium Model for the High-Yield Debt Market

Should We Regulate Junk Bonds?

The High Yield Bond Market: A Decade of Assessment, Comparing 1990 with 2000

The Implications of Corporate Bond Ratings Drift

Investing in Distressed Securities: The Anatomy of Defaulted Debt and Equities

Defaults and Returns on High Yield Bonds: Analysis Through 2000 and Default Outlook

Market Size and Investment Performance of Defaulted Bonds and Bank Loans: 1987--2000

Part IV: Bankruptcy and Firm Valuation

A Further Empirical Investigation of the Bankruptcy Cost Question

Firm Valuation and Corporate Leveraged Restructurings

Evaluating the Chapter 11 Bankruptcy-Reorganization Process

Financial Distress and Restructuring Models

Index