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Does “skin in the game” reduce risk taking? Leverage, liability and the long-run consequences of new deal banking reforms
Mitchener, Kris James; Richardson, Gary - In: Explorations in Economic History 50 (2013) 4, pp. 508-525
This essay examines how the Banking Acts of the 1933 and 1935 and related New Deal legislation influenced risk taking in the financial sector of the U.S. economy. The analysis focuses on contingent liability of bank owners for losses incurred by their firms and how the elimination of this...
Persistent link: https://www.econbiz.de/10011042827
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Are Russian Commercial Courts Biased? Evidence from a Natural Bankruptcy Experiment
Lambert-Mogiliansky, Ariane; Sonin, Konstantin; … - C.E.P.R. Discussion Papers - 2006
procedures initiated after the law took effect. In particular, controlling for indicators of firms’ insolvency and the quality of …
Persistent link: https://www.econbiz.de/10005123934
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Capture of Bankruptcy: Theory and Evidence from Russia
Lambert-Mogiliansky, Ariane; Sonin, Konstantin; … - C.E.P.R. Discussion Papers - 2000
Laws that work well in a rule-of-law country may produce unexpected outcomes in a corrupt environment. We argue that the legal system in Russia is faulted by the capture of regional divisions of arbitrage courts. We analyse the consequences of this for the efficiency of Russian bankruptcy law....
Persistent link: https://www.econbiz.de/10005656302
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Why do spanish firms rarely use the bankruptcy system? The role of the mortgage institution
García-Posada, Miguel; Mora-Sanguinetti, Juan S. - Banco de España - 2012
a hypothesis to explain why Spain has one of the world’s lowest business bankruptcy rates, even during the current … the Spanish bankruptcy system relative to that of an alternative insolvency institution, the mortgage system, and the …
Persistent link: https://www.econbiz.de/10010678678
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Insolvency institutions and efficiency: the Spanish case
García-Posada, Miguel - Banco de España - 2013
low creditor protection of the Spanish bankruptcy system relative to those of an alternative insolvency institution …, namely the mortgage system, mean that firms and their creditors mainly deal with credit provision and eventual insolvency …
Persistent link: https://www.econbiz.de/10010678693
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WHAT CAUSES INSOLVENCY? A STUDY REGARDING BIG AND MEDIUM ROMANIAN ENTERPRISES GOING BANKRUPT IN 2013
RADULESCU, Tudor Andrei; NISTOR, Carmen - In: CES Working Papers 6(4) (2014) December, pp. 114-121
“Economic Outlook. Insolvency World Cup 2014: Who will score fewer insolvencies?”. Subsequently, we examine “The Report on the …The failure of a company, whether insolvency or bankruptcy, has been a topic featured by countless researchers from … bankruptcy prediction models, omitting the actual reasons that caused the insolvency. In the present article we will try to …
Persistent link: https://www.econbiz.de/10011255198
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GDP and insolvency
Staszkiewicz, Piotr W. - Volkswirtschaftliche Fakultät, … - 2013
The correlation analysis was conducted on dynamic of GDP and company failure rate for Poland, Europe and USA for the period 2003-2011; it was found a negative correlation. An analysis was undertaken for the relation between the rate of corporate failure in Poland and the rate of change of overall...
Persistent link: https://www.econbiz.de/10011259056
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Several Conclusions from Research of Insolvency Cases in the Czech Republic
Smrčka, Luboš; Schönfeld, Jaroslav - In: Central European Business Review 2014 (2014) 1, pp. 13-19
The survey of real outcomes of insolvency proceedings in the Czech Republic analysed by this study took place during … of certain crucial data as to the actual outcome of insolvency proceedings in the Czech Republic, i.e. especially as to … basic information on the structure of the insolvency act in the Czech Republic and possible changes in legislation that …
Persistent link: https://www.econbiz.de/10011195423
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Mexico's retrogression: implications of a bankruptcy reorganization gone wrong
Porzecanski, Arturo C. - Volkswirtschaftliche Fakultät, … - 2011
serious doubts about the capacity of that country’s insolvency regime to deliver an outcome viewed as fair and consistent with …
Persistent link: https://www.econbiz.de/10009372574
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Corporate financial soundness and its impact on firm performance: Implications for corporate debt restructuring in Slovenia
Damijan, Jože P. - European Bank for Reconstruction and Development (EBRD) - 2014
The paper studies the extent of corporate leverage and range of excessive debt of Slovenian firms during the recent financial crisis. Half of all firms (of those with some non-zero debt and at least one employee) are found to face an unsustainable debt-to-EBITDA leverage ratio beyond 4,...
Persistent link: https://www.econbiz.de/10010797498