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A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy, lenders may charge higher interest rates or...
Persistent link: https://www.econbiz.de/10011601000
This paper focuses on the legal environment, particularly the insolvency system, that would influence the success of … have to operate under a given insolvency regime after they acquire the bad assets, existing bankruptcy procedures have an …
Persistent link: https://www.econbiz.de/10011429793
The paper analyses options in case of insolvency. Although insolvency plans empirically are very successful, they are …
Persistent link: https://www.econbiz.de/10010300002
-liquidation insolvency proceedings, usually referred to as reorganization. Using the ECJ case law on the Directive, I conclude that although … capital do not present an insurmountable hurdle to the adoption of rational corporate insolvency law. As a side note, I also …
Persistent link: https://www.econbiz.de/10010322155
This study is aimed at developing new empirical models for evaluating the efficiency of bankruptcy legislations. The paper is divided in three parts. In the first part, we analyze from a conceptual point of view the effects on debtor firms of the lack of creditors' powers in bankruptcy. In the...
Persistent link: https://www.econbiz.de/10011689917
Sanierungswege, z. B. das eigenverwaltete Schutzschirmverfahren vor der Insolvenz und die Eigenverwaltung während des …With the introduction of the ESUG law, German insolvency legislation was reformed in 2012. It offers new proceedings … for enterprise re-organisation, both before insolvency and between the application for insolvency and the start of the …
Persistent link: https://www.econbiz.de/10011818046
This paper looks at a sample of small and medium entities in Spain and analyzesthe effect of the vulnerability of … sectors to insolvency on their survival and the probability that they will go bankrupt. We collected data from solvent and … insolvent firms in Spain over the period 2012-2016, and grouped them according to the percentage of insolvencies by sector …
Persistent link: https://www.econbiz.de/10014494498
The determinants of corporate failure in Italian, Spanish and French small and medium-sized enterprises are investigated in order to find out whether the predictors of financial distress in the countries are the same or not. In order to compare the determinants of financial distress,...
Persistent link: https://www.econbiz.de/10010321187
The aim of this paper is to analyse how female migrants fare in the Spanish labour market, a country that has experienced impressive immigration flows during the last decade. Particularly, we explore the differential access to employment and the earning gap faced by this group, considering the...
Persistent link: https://www.econbiz.de/10011538733
The paper analyses the ownership structure of a large sample of Spanish listed companies. The results are analysed in terms of governance implications under the agency theory context. The results show a picture with concentrated ownership where stock markets are relatively low important. Direct...
Persistent link: https://www.econbiz.de/10011608487