Blazy, Régis; Umbhauer, Gisèle; Weill, Laurent - Luxembourg School of Finance, Faculté de droit, … - 2008
This research investigates how the legal sanctions prevailing under bankruptcy code impact on the design of debt … actively trades off between private renegotiation and costly bankruptcy procedure. Besides, the debtor’s investment policy … investment project (economic efficiency) and bankruptcy costs are avoided through private renegotiation (legal efficiency): this …