Aurora Borealis
1 May 1998 Financial Analysts Journal Volume 54, Issue 3

After Bankruptcy: Can Ugly Ducklings Turn into Swans?

  1. Allen Michel
  2. Israel Shaked
  3. Christopher McHugh

Before they emerge from bankruptcy, U.S. debtor companies are required to provide financial and operational projections to the Bankruptcy Court. The projections are of interest to numerous parties—analysts, advisors, creditors, and securityholders—but the results of this study suggest that the projections are frequently (and often, greatly) overstated.

Read the Complete Article in Financial Analysts Journal Financial Analysts Journal CFA Institute Member Content

We’re using cookies, but you can turn them off in Privacy Settings.  Otherwise, you are agreeing to our use of cookies.  Accepting cookies does not mean that we are collecting personal data. Learn more in our Privacy Policy.