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Macau Periodical Index (澳門期刊論文索引)
- Author
- Kuan, Winnie
- Title
- Financial distress and corporate performance: The case of Hong Kong
- Journal Name
- Euro Asia Journal of Management
- Pub. Info
- Jul. 1998, No.16, pp. 91-117
- Abstract
- Paragraph Headings: 1. Introduction 2. Research objective 3. Data set 4. Empirical tests and results 4.1. Leverage and firm performance in distressed industries 4.2. A nonparametric test of the hypothesis that leverafe affetcs performance in depressed industries 4.3. Sources of indirect financial distress costs (effect of firm size on how sales growth and stock returns respond to financial distress) 5. Summary of findings 6. Conclusions Tables: 1. Distributions of firms by year 2. Description of sample firms in industries with poor perdormance and normal performance 3. OLS regressions predicting mean industry-adjusted sales growth, stock returns, and opearting income growth in the 1982 to 1989 period 4. A comparison of the proportion of leveraged firms in distressed industries with above-mean industry firm performance (sales growth, stock returns and operating income growth) to the same proportion for leveraged firms in nondistressed industries 5. OLS regressions predicting industry-adjusted sales growth and stock returns as a function of industry performance, firm leverage, and controls stratified by firm size