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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 … neither confirm that a high priority for secured lenders explains an excessive use of collateral in bank loans nor that a …
Persistent link: https://www.econbiz.de/10010425216
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The Economic Perspective of Bank Bankruptcy Law
Marinc, Matej - 2011
to better mitigate disruptions in the financial system and minimize the social costs of bank distress. We compare the U …
Persistent link: https://www.econbiz.de/10013118965
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The Economic Perspective of Bank Bankruptcy Law
Marinc, Matej - 2011
to better mitigate disruptions in the financial system and minimize the social costs of bank distress. We compare the U …
Persistent link: https://www.econbiz.de/10013126054
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Can Bankruptcy Codes Create Value? - Evidence from Creditors’ Recoveries in France, Germany, and the United Kingdom
Blazy, Régis - 2013
This paper provides evidence on the value creation of bankruptcy procedures that belong to different legal systems (French civil law, German civil law, and British common law). Using a sample of 900 hand-collected corporate bankruptcy files, we find that France and Germany show quite similar...
Persistent link: https://www.econbiz.de/10013090210
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The Influence of Bankruptcy Law on Equity Value of Financially Distressed Firms : A European Comparative Analysis
Lopez-Gutiérrez, Carlos - 2009
The reaction of stock prices to bankruptcy filing has been frequently analysed in the financial literature. In this paper we adopt a different approach to that of traditional study, and endeavour to determine whether the reaction of markets is conditioned by the orientation of bankruptcy law....
Persistent link: https://www.econbiz.de/10013157226
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Can Bankruptcy Codes Create Value? Evidence from Creditors’ Recoveries in France, Germany, and the United Kingdom
Blazy, Régis - 2014
This paper provides evidence on the value creation of bankruptcy procedures that belong to different legal systems (French civil law, German civil law, and British common law). Using a sample of 900 hand-collected corporate bankruptcy files, we find that France and Germany show quite similar...
Persistent link: https://www.econbiz.de/10013052849
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COVID-19 and SME Failures
Gourinchas, Pierre-Olivier; Kalemli-Ozcan, Sebnem; … - 2021
We estimate the impact of the COVID-19 crisis on business failures among small and medium-size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost minimization and measure each firm’s liquidity shortfall during and...
Persistent link: https://www.econbiz.de/10013232582
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Can Bankruptcy Codes Create Value? Evidence from Creditors' Recoveries in France, Germany, and the UK
Blazy, Régis; Petey, Joël; Weill, Laurent - 2010
The aim of this paper is to provide new evidence on the value-creation process taking place in bankruptcy procedures that belong to different legal systems (French civil law, German civil law, and common law): to do so, we assess to which extent the debtor’s value can be preserved under...
Persistent link: https://www.econbiz.de/10014194010
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Common Distress and Reorganization Patterns by Sector and Country for SMEs in Six European Countries using PDFR
Tascón, Maria T.; Laitinen, Erkki; Castaño, Francisco J. - 2022
This study contributes to identifying common distress patterns in financial indicators by sector and country in Finland, France, Germany, Italy, Portugal, and Spain as well as ex-post signals of reorganization success. We use PDFR that provides a distance-to-failure measure and allows us to...
Persistent link: https://www.econbiz.de/10014359216
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(Un)secured debt and the likelihood of court-supervised reorganization
Blazy, Régis; Chopard, Bertrand - In: European journal of law and economics 34 (2012) 1, pp. 45-61
Persistent link: https://www.econbiz.de/10009709720