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Policymakers have minimized the role of bankruptcy law in mitigating the financial fallout from COVID-19. Scholars too are unsure about the merits of bankruptcy, especially Chapter 11, in resolving business distress. We argue that Chapter 11 complements current stimulus policies for large...
Persistent link: https://www.econbiz.de/10012838039
One of the major aims of the 1992 reform to bankruptcy law in Canada was to increase the number of reorganization proposals. The purpose of this paper is to analyze the number of reorganization proposals filed by companies in Toronto and Montreal before and after bankruptcy reform to see whether...
Persistent link: https://www.econbiz.de/10014138393
preparedness of insolvency systems is measured according to a newly designed indicator that includes five dimensions of the … insolvency and restructuring regime (out-of-court restructuring, hybrid restructuring, reorganization, liquidation, and the … those countries need to step up efforts to improve their insolvency systems …
Persistent link: https://www.econbiz.de/10013336131
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
In this article, I attempt to clarify the appropriate government tools for responding to different forms of market distress in times of crisis. I provide my analysis in the context of the United States responses to market distress related to the COVID-19 pandemic.With the exception of measures...
Persistent link: https://www.econbiz.de/10013234231
The aim of the study is to examine the impact of financial constraints and financial distress on cash holdings, both in normal and crisis times. We collected the 4,406 firm-year observations of companies listed on the Warsaw Stock Exchange (WSE). Our research shows that companies maintain higher...
Persistent link: https://www.econbiz.de/10014310085
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The precise impact of the COVID-19 pandemic on African economies is still unknown, however if the crisis persists, it is likely to have huge economic ramifications on the continent. Financial Technology (FinTech), which has made a positive contribution in Africa can significantly support the...
Persistent link: https://www.econbiz.de/10014090690
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