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

**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.Content: Chapter 1 Corporate Distress: Introduction and Statistical Background (pages 1–20): Chapter 6 Firm Valuation and Corporate Leveraged Restructuring (pages 121–143): Chapter 7 The High Yield Bond Market: Risks and Returns for Investors and Analysts (pages 145–182): Chapter 8 Investing in Distressed Securities (pages 183–201): Chapter 9 Risk?Return Performance of Defaulted Bonds and Bank Loans (pages 203–218): Chapter 10 Corporate Governance in Distressed Firms (pages 219–230): Chapter 2 Evolution Of The Bankruptcy Process In The United States and International Comparisons (pages 21–78): Chapter 3 Post–chapter 11 Performance (pages 79–92): Chapter 4 The Costs Of Bankruptcy (pages 93–102): Chapter 5 Distressed Firm Valuation (pages 103–119): Chapter 11 Corporate Credit Scoring–insolvency Risk Models (pages 231–264): Chapter 12 An Emerging Market Credit Scoring System for Corporates (pages 265–280): Chapter 13 Application of Distress Prediction Models (pages 281–296): Chapter 14 Distress Prediction Models: Catalysts for Constructive Change—Managing a Financial Turnaround (pages 297–306): Chapter 15 Estimating Recovery Rates on Defaulted Debt (pages 307–330): In This Newly Revised Third Edition Of Corporate Financial Distress And Bankruptcy, Credit And Corporate Bankruptcy Experts Ed Altman And Edith Hotchkiss Update And Expand The Discussion Of Corporate Distress And Bankruptcy, As Well As The Related Markets Dealing With High-yield And Distressed Debt. In Addition To Expanded Empirical And Descriptive Aspects Of Bankruptcy And Credit Analysis, This Third Edition Offers 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.--book Jacket. Corporate Distress : Introduction And Statistical Background -- Evolution Of The Bankruptcy Process In The United States And International Comparisons -- Post-chapter 11 Performance -- The Costs Of Bankruptcy -- Distressed Firm Valuation -- Firm Valuation And Corporate Leveraged Restructuring -- The High Yield Bond Market : Risks And Returns For Investors And Analysts -- Investing In Distressed Securities -- Risk-return Performance Of Defaulted Bonds And Bank Loans -- Corporate Governance In Distressed Firms -- Techniques For The Classification And Prediction Of Corporate Financial Distress And Their Applications -- Corporate Credit Scoring-insolvency Risk Models -- An Emerging Market Credit Scoring System For Corporates -- Application Of Distress Prediction Models -- Distress Prediction Models : Catalysts For Constructive Change : Managing A Financial Turnaround -- Estimating Recovery Rates On Defaulted Debt. Edward I. Altman, Edith Hotchkiss. Includes Bibliographical References (p. 331-346) And Indexes. 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. Edward I. Altman (New York, NY) is the Max L. Heine Professor of Finance at the Stern School of Business, New York University. He received his MBA and PhD in finance from the University of California, Los Angeles. Edith Hotchkiss (Chester Hill, MA) is Associate Professor of Finance at Boston College. She received her PhD from the Stern School of Business and her BA from Dartmouth College. Last published in 1993, Corporate Financial Distress and Bankruptcy is still considered the most authoritative finance book on the subject. Since then, however, the fields of corporate distress and bankruptcy, as well as the related markets dealing with high yield and distressed debt, have undergone enormous growth and popularity. Corporate distress, including the legal processes of corporate bankruptcy reorganization (Chapter 11 of the Bankruptcy Code) and liquidation (Chapter 7), is a sobering economic reality reflecting the uniqueness of the American way of corporate "death."