The restructuring of a bankrupt company often entails a change of control. By efficiency of a bankruptcy procedure it …

This paper looks at simple decision rules in bankruptcy procedures. It describes special issues of enterprise … economic transformation influence the impact of bankruptcy regulation in a way distorting it towards liquidation. …

We propose that stronger creditor rights in bankruptcy reduce corporate risk-taking. Employing country-level data, we …

payments of principal and interest to creditors, who in turn have strong incentives not to declare bankruptcy. In such …

Under the assumption that asset markets are incomplete, this paper introduces bankruptcy in an intertemporal … argues that intervention in the form of a level of bankruptcy exemption can enhance not only social welfare but also … distributive equity. The bankruptcy law is carefully specified in the model. The model generates distributional changes in …

general equilibrium model. Binding ceilings on loan rates reduce the probability of bankruptcy. Lower bankruptcy rates result … in lower bankruptcy and liquidation costs. The authors state conditions under which the resources freed by this cost …