Bankruptcy Law And Equity Capital: Evidence From India
UNIVERSITY OF TECHNOLOGY SYDNEY
Research Seminars in Finance
Topic: Bankruptcy Law And Equity Capital: Evidence From India
Speaker: Prasanna Tantri, Indian School of Business
Abstract: We study the impact of a creditor-in-control bankruptcy regime in India on equity capital particularly on outside equity, which refers to investment by non-controlling shareholders. We exploit the distance of lenders from the bankruptcy courts for identification. The in ow of both inside and outside equity capital increases significantly and cost reduces as a result of the bankruptcy law. A significant reduction in tunneling of resources by the insiders seems to be the channel at work. An increase in equity is also accompanied by an increase in debt at a lower cost. Firms use the additional capital to increase investment.
Moderator: Thomas Matthys, University of Technology Sydney
Date: Wednesday, 4th November 2020
Time: 4-5 pm (Australian Eastern Daylight Time)
Venue: This is on online Zoom webinar.
After registering, you will receive a confirmation email containing information on how to join the meeting, including an access link.
- The webinar will run for 45 minutes, followed by a 15 minute Q&A session.
- There will be a moderator for each seminar event, who will facilitate communication and resolve any technical issues.
- Participants can use the chat facility or raise their had to ask questions during the presentation. The moderator will then alert the speaker at the appropriate time and either ask the questions raised or unmute the participant so they can ask the question directly to the presenter.
Co-ordinator: Harry Scheule
Enquiries: Duncan Ford