Corporate financial restructuring in Asia: implications for financial stability

Author: Michael Pomerleano
BIS Quarterly Review, September 2007
INTRO:
Corporate financial fragility preceding the Asian financial crisis heightened vulnerabilities. Many countries in the region undertook significant corporate financial restructuring after the crisis, with some countries bouncing back much faster than others. These sounder corporate financial practices bode well for financial stability.
Full Text: r_qt0709i

Corporate Debt Restructuring and Public Financial Institutions in Japan -Do Government-Affiliated Financial

Author: Kenya Fujiwara (Professor, School of Business Administration, Kobe University)
Public Policy Review, 2006, Vol.2, No.1
ABSTRACT:
There are two different views on the effects of public financial institutions on corporate debt restructuring: the soft budget view and the hard budget view. The former view, which is held by Kornai (1979, 1983), Dewatripont and Maskin (1995), and others [...]