Doctoral Dissertation Research: A Bargaining Model of Corporate Bankruptcy Reorganization

拟议的研究将集中在根据美国破产法第11章对大型上市公司的企业破产重组达成协议的时间和条款。分析将由两部分组成。第一部分，将企业破产重组过程建模为一个多边模型的序贯讨价还价。在第二部分，将使用美国的数据来估计讨价还价模型。这些估算值将用于进行政策实验。例如，将评估美国破产法的各种制度特征对破产法第11章破产结果的影响。本提案所要求的资金将用于收集开展实证分析所需的数据。

The proposed research will focus on the timing and terms of the agreement in corporate bankruptcy reorganizations of large, publicly held firms under Chapter 11 of the U.S. Bankruptcy Code. The analysis will consist of two parts. In the first part, the process of corporate bankruptcy reorganizations will be modeled as a multilateral model sequential bargaining. In the second part, the bargaining model will be estimated using U.S. data. The estimates will be used to conduct policy experiments. For example, the effects of a variety of institutional features of U.S. Bankruptcy Code on the outcome of Chapter 11 bankruptcies will be evaluated. The funds requested in this proposal will be used to collect data that are necessary to carry out the empirical analysis.