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...

Taking advantage of a rich database of more than 1 million companies in Spain, France and the U.K., we propose and test a hypothesis to explain why Spain has one of the world’s lowest business bankruptcy rates, even during the current economic crisis and after controlling for market exit...

El presente trabajo alerta sobre las potenciales pérdidas de eficiencia asociadas a bajas tasas de concursos empresariales (número de empresas que solicitan concurso de acreedores dividido por el total de empresas) y muestra que el bienestar podría mejorar al incrementar la protección de los...

Incluye referencias bibliográficas y apéndice con terminología legal ; Las empresas pequeñas, que constituyen la mayoría del tejido empresarial español, raramente solicitan concurso de acreedores, incluso durante la actual crisis económica. Esto sugiere que la Ley Concursal desempeña un...

Tradicionalmente, los concursos de acreedores en España han sido procedimientos largos y costosos, que casi siempre terminaban en la liquidación de la empresa concursada (95 %). Estas disfuncionalidades quedaron en evidencia con el fuerte aumento de los concursos de acreedores durante la...

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...

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...

Taking advantage of a rich database of more than 1 million companies in Spain, France and the U.K., we propose and test a hypothesis to explain why Spain has one of the world’s lowest business bankruptcy rates, even during the current economic crisis and after controlling for market exit...