Leng, Fei - In: Review of Pacific Basin Financial Markets and Policies … 16 (2013) 01, pp. 1350005-1
This paper analyzes the reorganization procedure introduced into the Chinese bankruptcy system in 2007. It shows that … managers devote more effort during the reorganization than before the bankruptcy when the emergence value of the bankrupt firm … is substantial. In addition, in the pre-bankruptcy period, managers were shown to input less effort under the new law …