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The Risk-Adjusted Cost of Financial Distress Heitor Almeida and Thomas Philippon∗ Abstract Financial distress is more likely to happen in bad times. The present value of distress costs therefore
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Document Date: 2006-08-04 16:41:00
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The Risk-Adjusted Cost of Financial Distress Heitor Almeida and Thomas Philippon∗ Abstract Financial distress is more likely to happen in bad times. The present value of distress costs therefore