Waseda Organizational and Financial Economics Seminar:
“Recent Advances in Corporate Debt Restructuring” (10/21)
講演者 / Speaker
MORAUX, Franck （Professor, Université de Rennes 1）
- 研究分野 関心領域
Finance
日 時 / Date & Time
2019年10月21日（月） 13:00～14:30
会 場 / Venue
早稲田大学 早稲田キャンパス 11号館 11階 1111教室
主 旨 / Outline
“Recent Advances in Corporate Debt Restructuring”
The distress of companies is a serious concern in many countries around the world. Fortunately, in many occasions, Finance can seriously help by structuring corporate debt. Strangely enough, this option to restructure the capital structure is largely neglected in the literature. Very few models devoted to the pricing of corporate securities consider this issue, despite clear evidences that potential debt restructuring may have a huge impact i) on the prices of corporate debt (and equity) and ii) on the way the optimal capital structure is achieved. And, for many, it is even not really clear how one may design a solution in the best interest of stakeholders (i.e. both creditors and debtors). In this seminar, I will give an overview of this issue and review some recent advances in this very dynamic research field. I will focus in particular on the modelling of corporate debt restructuring and the pricing of corporate liabilities under a specific bankruptcy regime (public court-supervised bankruptcy procedure and/or private workout). Numerical illustrations will follow.
プログラム / Schedule
13:00～13:05 開会の挨拶（宮島 英昭 早稲田大学高等研究所 顧問 ／ 商学学術院 教授）
13:05～14:05 講演
14:05～14:25 質疑応答
14:25～14:30 閉会の挨拶（宮島 英昭）
対 象 / Prospected Audience
学部生・大学院生・教職員・一般
主 催 / Organizer
早稲田大学 産業経営研究所
早稲田大学 高等研究所
申込み / Registration
事前申込み不要です。直接会場にお越しください。
