liability rules and bankruptcy laws decreases as exogenous sources of uncertainty become relatively more important, and … increases with the opportunity for moral hazard (related to diligence, risk taking, or deception). Second, bankruptcy laws …

specific risks. There are many reasons to use nonlinear techniques for predicting bankruptcy from financial ratios. Here we … the Creditreform database. The results reveal that the most important eight predictors related to bankruptcy for these …

Bankruptcy acts as insurance if the decision to default is negatively correlated with income shocks. However, whether … bankruptcy provides insurance is dependent on the punishment for default. Such rules can instead cause the consumer to be credit … of the theory since rules about which assets may be kept by the debtor, the state exemptions, when filing for bankruptcy …

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 …