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Quality of institutions, credit markets and bankruptcy
Hainz, Christa - 2004 - August, 2004 - draft
The number of firm bankruptcies is surprisingly low in economies with poor institutions. We study a model of bank-firm relationship and show that the bank's decision to liquidate bad firms has two opposing effects. First, the bank gets a payoff if a firm is liquidated. Second, it loses the rent...
Persistent link: https://www.econbiz.de/10010440454
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Personal bankcuptcy law, wealth and entrepreneurship : theory and evidence from the introduction of a "fresh start"
Fossen, Frank M. - 2011
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 … forgiving personal bankruptcy law are less relevant for wealthy potential entrepreneurs who still risk losing their wealth, but …
Persistent link: https://www.econbiz.de/10009008042
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Personal bankruptcy law, wealth and entrepreneurship : theory and evidence from the introduction of a "fresh start“
Fossen, Frank M. - 2011
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 … forgiving personal bankruptcy law are less relevant for wealthy potential entrepreneurs who still risk losing their wealth, but …
Persistent link: https://www.econbiz.de/10009308943
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Cyclicality in losses on bank loans
Keijsers, Bart; Diris, Bart; Kole, Erik - 2015
Cyclicality in the losses of bank loans is important for bank risk management. Because loans have a different risk profile than bonds, evidence of cyclicality in bond losses need not apply to loans. Based on unique data we show that the default rate and loss given default of bank loans share a...
Persistent link: https://www.econbiz.de/10010515860
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Multiple lenders and corporate distress : evidence on debt restructuring
Brunner, Antje; Krahnen, Jan Pieter - 2006 - This version: June 2006
In the recent theoretical literature on lending risk, the coordination problem in multi-creditor relationships have been analyzed extensively. We address this topic empirically, relying on a unique panel data set that includes detailed credit-file information on distressed lending relationships...
Persistent link: https://www.econbiz.de/10009767665
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Banking reform
Jackson, Patricia; Davies, Howard; Miles, David; … - SUERF Conference on Banking Reform <2015, London>; … - 2016
On 3 December EY hosted a SUERF conference on banking reform with Sir Howard Davies, the Chairman of RBS, and Dame Colette Bowe, the Chairman of the Banking Standards Board, as the two keynote speakers. Professor David Miles (Imperial College) gave the SUERF 2015 Annual Lecture on Capital and...
Persistent link: https://www.econbiz.de/10011554963
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International similarities of bank lending practices and varieties of insolvency laws : a comparative analysis of France and Germany
Größl, Ingrid; Levratto, Nadine - 2012
Economic theory conjectures complementarities between the ranking of creditors in formal insolvency proceedings and the use of collateral in bank loan contracts as well as the exist-ence of relational compared to arm's length lending. In this paper we seek evidence for the-se hypotheses taking...
Persistent link: https://www.econbiz.de/10010425216
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Personal Bankruptcy Law, Wealth and Entrepreneurship : Theory and Evidence from the Introduction of a 'Fresh Start'
Fossen, Frank M. - 2011
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 … forgiving personal bankruptcy law are less relevant for wealthy potential entrepreneurs who still risk losing their wealth, but …
Persistent link: https://www.econbiz.de/10013130785
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Personal Bankruptcy Law, Wealth and Entrepreneurship : Theory and Evidence from the Introduction of a 'Fresh Start'
Fossen, Frank M. - 2011
"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 … forgiving personal bankruptcy law are less relevant for wealthy potential entrepreneurs who still risk losing their wealth, but …
Persistent link: https://www.econbiz.de/10013130939
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Bankruptcies of Small Firms and Lending Relationship
Shimizu, Katsutoshi - 2012
test the hypothesis that small banks enhance the recovery rate from the financial distress and reduce the bankruptcy ratio …
Persistent link: https://www.econbiz.de/10013102565