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The impact of delay : evidence from formal out-of-court restructuring

Srhoj, Stjepan; Kovač, Dejan; Shapiro, Jacob N.; … - 2021

Bankruptcy restructuring procedures are used in most legal systems to decide the fate of businesses facing financial … context of Croatia, which introduced a "pre-bankruptcy settlement" (PBS) process in the wake of the Great Recession of 2007 … effectively delays entry into the standard bankruptcy procedure, leads to a lower rate of survival among debtors as well as re …

Persistent link: https://www.econbiz.de/10012603137

Quality of institutions, credit markets and bankruptcy

Hainz, Christa (contributor) - 2004

The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank-firm relationship and show that the banks̕ decision to liquidate bad firms has two opposing effects. First, the bank receives a payoff if a firm is liquidated. Second, it loses the...

Persistent link: https://www.econbiz.de/10002524103

Illiquidity and under-valuation of firms

Gale, Douglas; Gottardi, Piero - 2009

We study a competitive model in which market incompleteness implies that debt-financed firms may default in some states of nature and default may lead to the sale of the firms' assets at fire sale prices when markets are illiquid. This incompleteness is the only friction in the model and the...

Persistent link: https://www.econbiz.de/10003923631

Debt recovery in firm liquidations : do liquidation trustees matter?

Cepec, Jaka; Grajzl, Peter; Zajc, Katarina - 2016

of the liquidation proceedings. To this end, we draw on a novel dataset of firm liquidations from Slovenia and exploit … courts' de facto random assignment of firm liquidation cases to licensed liquidation trustees. Using a wide range of …

Persistent link: https://www.econbiz.de/10011518156

The impacts of Covid-19 on racial inequality in business earnings

Fairlie, Robert W. - 2023

Many small businesses closed in the pandemic, but were economic losses disproportionately felt by businesses owned by people of color? This paper provides the first study of the impacts of COVID-19 on racial inequality in business earnings. Pandemic-induced losses to business earnings in 2020...

Persistent link: https://www.econbiz.de/10014336469

Clash of career and family : fertility decisions after job displacement

Del Bono, Emilia (contributor); Weber, Andrea (contributor); … - 2008

Persistent link: https://www.econbiz.de/10003630457

Coal demand, market forces, and US coal mine closures

Jordan, Brett; Lange, Ian; Linn, Joshua - 2018

Economic transitions have the potential to displace workers and cause social unrest. Coal mine closures in the eastern United States due to the changing electricity system and the resulting employment losses in rural areas have become salient issues for all levels of government. Previous...

Persistent link: https://www.econbiz.de/10011822795

Dissonant works councils and establishment survivability

Addison, John T.; Teixeira, Paulino; Grunau, Philipp; … - 2019

Using subjective information provided by manager respondents on the stance taken by the works council in company decision making, this paper investigates the association between a measure of works council dissonance or disaffection and plant closings in Germany, 2006-2015. The potential effects...

Persistent link: https://www.econbiz.de/10012030687

Consequences of parental job loss on the family environment and on human capital formation : evidence from plant closures

Mörk, Eva; Sjögren, Anna; Svaleryd, Helena - 2019

We study the consequences of mothers' and fathers' job loss for parents, families, and children. Rich Swedish register data allow us to identify plant closures and account for non-random selection of workers to closing plants by using propensity score matching and controlling for...

Persistent link: https://www.econbiz.de/10012064557

Parental well-being in times of Covid-19 in Germany

Huebener, Mathias; Waights, Sevrin; Spieß, C. Katharina; … - 2020

We examine the differential effects of Covid-19 and related restrictions on individuals with dependent children in Germany. We specifically focus on the role of school and day care center closures, which may be regarded as a "disruptive exogenous shock" to family life. We make use of a novel...

Persistent link: https://www.econbiz.de/10012260836