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We survey the empirical evidence on corporate survival and its determinants in European emerging markets. We demonstrate that (i) institutional quality is a significant preventive factor for firm survival in all sectors of the economy, which holds for small, medium and large firms alike. On the...
Persistent link: https://www.econbiz.de/10013271002
Italy's economic and banking systems have been under stress in the wake of the global financial crisis and the euro …
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This paper is focused on the financial situation of enterprises introducing safeguard procedure (in other words moratorium) in the Czech Republic. The paper's aim is to show if the enterprises asking for the safeguard procedure do have financial conditions for recovering and maintaining the...
Persistent link: https://www.econbiz.de/10012174925
The aim of this article is to present financial liquidity as a factor affecting the economic condition of the companies on the capital market in relation to the amended Bankruptcy Law in Poland. A study was carried out to determine the impact of liquidity on the increase in earnings per share...
Persistent link: https://www.econbiz.de/10011993141
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
This paper investigates the effect of reforms of insolvency regulations on cross-border debt and equity investments at …-indicators on the efficiency of insolvency regulations, we find that investors prefer to invest more in countries with more efficient … insolvency frameworks. The effect, however, differs across sectors, with households and institutional investors being …
Persistent link: https://www.econbiz.de/10012202728