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RBA Glossary definition for bankruptcy

bankruptcy – A legal status, which can be initiated by a creditor or person concerned, whereby the bankrupt's property is vested in a trustee and, with the exception of certain personal and professional property, is available for distribution to creditors.

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Capital Structure: Theory and Evidence

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
These bankruptcy/financial distress costs carry a number of implications for capital structure choices. ... capacity. Also, a heavy reliance upon debt results in high risks of bankruptcy.
https://www.rba.gov.au/publications/rdp/1993/9313/capital-structure-theory-evidence.html

References

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
Altman, E.I. (1984), ‘A Further Empirical Investigation of the Bankruptcy Cost Question’,. ... McConnell (1982), ‘The Administrative Costs of Corporate Bankruptcy: A Note’,. Journal of Finance. ,
https://www.rba.gov.au/publications/rdp/1993/9313/references.html

Results

1 Dec 1993 RDP 9313
Geoffrey Shuetrim, Philip Lowe and Steve Morling
This is consistent with the view that there are various costs (agency costs and expected bankruptcy/financial distress costs) associated with the use of external funds and that these costs may
https://www.rba.gov.au/publications/rdp/1993/9313/results.html