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insolvency and employment law, stakeholder interests are better represented, thanks to European Community influence. Moreover …
Persistent link: https://www.econbiz.de/10005687992
ownership and control that exist in developed economies. Yet the role of bankruptcy as a mechanism of corporate governance has … between bankruptcy law and ownership structure, which it is argued can explain developments in both the UK and the US. By … implications of these capital structure choices for bankruptcy, the paper develops a richer account of the corporate governance …
Persistent link: https://www.econbiz.de/10005162846
Legal origins theory suggests that law reform, strengthening shareholder and creditor rights, should enhance financial development. We use recently created datasets measuring legal change over time in a sample of 25 developing, developed and transition countries to test this claim. We find that...
Persistent link: https://www.econbiz.de/10010548032
insolvency proceedings. It appears that regulatory pressure applied by the Bank of England may have been critical in 'seeding …
Persistent link: https://www.econbiz.de/10005813027
Law and economics scholarship has contributed greatly to our understanding of corporate insolvency law. This paper … goals of insolvency law. It then considers Jackson's well-known claim that insolvency law exists as a response to a common …
Persistent link: https://www.econbiz.de/10005813032
English corporate insolvency law has been reshaped by the Enterprise Act 2002. The Act was intended to ‘to facilitate … insolvency proceedings in the hands of banks, is for most purposes being abolished. It is being replaced by a ‘streamlined …
Persistent link: https://www.econbiz.de/10005813052
troubled companies. Consideration of this issue is timely, because insolvency law is currently under review. We argue although … creditor who has invested in information-gathering about the debtor to conduct a private insolvency procedure. We suggest that …
Persistent link: https://www.econbiz.de/10005687971
This review paper is a contribution to a symposium on the 'Future of Secured Credit in Europe'. Its theme is the way in which empirical research has shed light on earlier theoretical literature. These findings tend to suggest that the legal institution of secured credit is, on the whole,...
Persistent link: https://www.econbiz.de/10005688000
rights in bankruptcy. Proponents point to the monitoring benefits brought from concentrating control rights in the hands of a … bankruptcy law permitted firms to give complete ex post control to secured creditors, through a procedure known as Receivership … in the law, these have tended to be eaten up by concomitantly increased bankruptcy costs. The net result has been that …
Persistent link: https://www.econbiz.de/10005688015
The legal origins hypothesis is one of the most important and influential ideas to emerge in the social sciences in the past decade. However, the empirical base of the legal origins claim has always been contestable, as it largely consists of cross-sectional datasets which provide evidence on...
Persistent link: https://www.econbiz.de/10010614655