Detector-Relative Zombies: Non-Bank Survival Channels at Transocean and Across Offshore Drilling
This paper demonstrates that Transocean's classification as a "zombie" firm is contingent on the specific diagnostic metric used, revealing that non-bank financing channels and industry-specific structures allow offshore drillers to survive despite failing interest-coverage tests, thereby highlighting the sensitivity of aggregate zombie counts to accounting definitions and the need for targeted policy interventions.
Original paper licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). This is an AI-generated explanation of the paper below. It is not written or endorsed by the authors. For technical accuracy, refer to the original paper. Read full disclaimer
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