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Every month, a fraction of UK property leases are extended for another 90 years or more. We use new data on thousands of these natural experiments from 2003 onwards to estimate the "natural rate of return on capital", \(r_K^\text{*}\), which also represents the long-run dividend-price ratio....
Persistent link: https://www.econbiz.de/10014421185
Persistent link: https://www.econbiz.de/10001195582
law of insolvency is no different, and the law of insolvency is particularly motivated by any individual jurisdiction …
Persistent link: https://www.econbiz.de/10014182472
to companies in the “vicinity of insolvency”. We show how conflict of law rules and the territorial reach of …
Persistent link: https://www.econbiz.de/10014154713
Insolvency law faces the challenge of properly liquidating insolvent estates. To achieve this, insolvency … representatives need to be skilled, and paid. Countries have adopted different models for compensating insolvency representatives who … liquidate estates. While a proper insolvency funding mechanism is important, the topic has received little scholarly attention …
Persistent link: https://www.econbiz.de/10012997569
Certain insolvency law rules, like creditors' priorities and set-off rights, have a distributive impact on creditors … relevance and pose an obstacle to reforming the EU Insolvency Regulation. This paper will show the difficulty of reform by … model', under which companies can select the insolvency law they prefer. Although such a model would allow distressed firms …
Persistent link: https://www.econbiz.de/10013007279
The EU Commission is considering a project for a European Bankruptcy Code. This Article considers what it should cover, how such a Code should relate to Member State private laws, what should be unified or harmonized, and whether the EU has sufficient competency in these matters to complete a...
Persistent link: https://www.econbiz.de/10013223979
evident than in the treatment of employees during bankruptcy/insolvency procedures, which may provide a barometer of changes … the rescue culture, which is now the foundation for insolvency systems throughout the EU and in many modern world … insolvency system. Now that Article 50 of the Treaty of Lisbon has been invoked, the UK is making its way toward a deal or no …
Persistent link: https://www.econbiz.de/10013226247
pursuit of free trade within the Common Market. The EU Insolvency Regulation2 is one of many attempts to coordinate the way in … through which cross border insolvencies can be managed, there remain gaps between the individual insolvency systems of the … member states which make it more difficult to coordinate insolvency procedures than if they were more closely aligned …
Persistent link: https://www.econbiz.de/10013228413
We estimate the impact of COVID-19 on business failures for small and medium sized enterprises (SMEs) using firm-level data in seventeen countries. Absent government support, the failure rate of SMEs would have increased by 9.1 percentage points, representing 4.6 percent of private sector...
Persistent link: https://www.econbiz.de/10013244116