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This paper examines the determinants of mergers and bankruptcies, using firm level data from the Swiss Business Census and the Dun & Bradstreet exit database for Switzerland (1995-2000). Employing duration analysis, we find considerable differences in the determinants of mergers and...
Persistent link: https://www.econbiz.de/10010315602
Prior to being a simple concept, the entrepreneurial failure is a multidimensional phenomenon. To contribute to its … comprehension, this paper proposes to develop a synthetic vision of failure in order to escape a behavioral and partial approach … between the performance (or failure) of companies and some environmental variables. We also introduce a dynamic view of …
Persistent link: https://www.econbiz.de/10011540244
Predicting bankruptcy of companies has been a hot subject of focus for many economists. The rationale for developing and predicting the financial distress of a company is to develop a predictive model used to forecast the financial condition of a company by combining several econometric...
Persistent link: https://www.econbiz.de/10012611274
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
Different economic environments differ in their characteristics; this prevents the usage of the same bankruptcy prediction models under different conditions. Objectively, the abundance of bankruptcy prediction models gives rise to the idea that these models are not in compliance with the...
Persistent link: https://www.econbiz.de/10013199594