prices by incorporating the naïfs' mis-forecasts. Due to the capital losses, the naïfs fall into bankruptcy when they are …

state-contingent policies. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 in particular generates a …

insufficient wealth, those firms may file for bankruptcy ---thereby becoming ''judgement proof''--- as soon as a major accident … concerning the optimal care level chosen by judgement-proof firms. By analysing the firm's bankruptcy decision itself, the paper …

Small businesses, the majority of Spanish firms, rarely file for formal bankruptcy when dealing with financial distress …. This is why business bankruptcy rates in Spain are among the lowest in the world, even during the current economic crisis …. To explain this fact we present the following hypothesis. Filing for bankruptcy in Spain is very costly for both small …

Much work has been done in the last two decades to estimate the determinants of bankruptcy of large firms. Very little … work appears to have been attempted in the area of small firm bankruptcy. This paper goes some way to remedy the deficiency … by estimating conditional logistic probability regressions for small firm bankruptcy on a recently constructed U …

way that the firms and the territories behave mainly in case of bad economic performance and even bankruptcy. Within this …