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

We study the nature of judicial bias in bankruptcy proceedings following the enactment of bankruptcy law in Russia in … 1998. We find that regional political characteristics affected judicial decisions about the numbers and types of bankruptcy … bankruptcy; while the opposite was true in regions with high-quality judges. The effect of judicial quality on restructuring is …

empirically using bankruptcy filings in Sweden, where a filing automatically terminates CEO employment and requires the firm to be … sold in an open auction. The median CEO income loss is a dramatic 40%, suggesting that bankruptcy filing damages CEO … CEO being rehired by the buyer in the auction, as predicted. Moreover, we find that the rehired CEOs generate a post-bankruptcy …

A basic question for the design of bankruptcy law concerns whether value should be divided in accordance with absolute …

We analyse bidding incentives and present evidence on takeover premiums in Sweden’s mandatory bankruptcy auctions. The …

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

and at the time of emergence from default or from bankruptcy. In addition to seniority and security of the defaulted …