Determinants of the duration of the voluntary administration process: An unconditional quantile regression analysis

IF 2.9 3区 管理学 Q2 BUSINESS, FINANCE Journal of Contemporary Accounting & Economics Pub Date : 2021-12-01 DOI:10.1016/j.jcae.2021.100276
John Goodwin , James Routledge
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引用次数: 0

Abstract

This study explores determinants of voluntary administration (VA) and deed of company arrangement (DOCA) durations using unconditional quantile regression (UQR). Determinants’ effects are heterogeneous across the VA and DOCA distributions. Determinants related to complexity and negotiation, including size and debt restructuring existence, are positively and negatively related respectively to VA duration, and are stronger at longer durations. Insolvency firm expertise is negatively related to VA duration at shorter durations. Determinants related to scale and procedure, including size and accounting problems, are positively related to DOCA duration, and are stronger at longer durations. No determinants explain short DOCA durations. The UQR results uncovered other new empirical regularities.

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自愿给药过程持续时间的决定因素:无条件分位数回归分析
本研究利用无条件分位数回归(UQR)探讨了自愿管理(VA)和公司安排契约(DOCA)持续时间的决定因素。决定因素的影响在VA和DOCA分布中是异质的。与复杂性和谈判相关的决定因素,包括规模和债务重组的存在,分别与VA持续时间呈正相关和负相关,并且在更长的持续时间内更强。在较短的持续时间内,破产公司的专业知识与VA持续时间呈负相关。与规模和程序相关的决定因素,包括规模和会计问题,与DOCA持续时间呈正相关,并且持续时间越长越强。没有决定因素解释短DOCA持续时间。UQR的结果揭示了其他新的经验规律。
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来源期刊
CiteScore
6.00
自引率
3.00%
发文量
24
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