EBIDTEarnings Before Interest Depreciation and Tax
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Private and public workout firms also have greater EBIDT ratios than Chapter 11 firms.
It is important to note that using EBIDTs as a proxy to compare the magnitude of economic distress between Chapter 11 firms and prepack firms may confound the statistical test, since not all firms that file for Chapter 11 are inefficient.
A hierarchy similar to that observed for the EBIDTs is observed for stock returns.