Indirect bankruptcy costs include the costs of avoiding a bankruptcy ﬁling incurred by a ﬁnancially
distressed ﬁrm.

Name: Indirect bankruptcy costs include the costs of avoiding a bankruptcy ﬁling incurred by a ﬁnancially distressed ﬁrm.
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Question

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Indirect bankruptcy costs refer to the costs incurred by a financially distressed firm in order to avoid a bankruptcy filing, such as legal fees, financial advisory fees, and other costs associated with restructuring or refinancing.

Indirect Bankruptcy Costs Include the Costs of Avoiding a Bankruptcy