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Proximity to help matters: the effect of access to centers of legal Aid on bankruptcy rates

Hrehová, Kristína; Domonkos, Stefan - 2022

Persistent link: https://www.econbiz.de/10013262647

Ambiguity and insurance : robust capital requirements and premiums

Walker, Oliver; Dietz, Simon - 2012

Persistent link: https://www.econbiz.de/10009675055

Dealer financial conditions and lender-of-last-resort facilities

Acharya, Viral V.; Fleming, Michael J.; Hrung, Warren B.; … - 2014

We examine the financial conditions of dealers that participated in two of the Federal Reserve's lender-of-last-resort (LOLR) facilities -- the Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF) -- that provided liquidity against a range of assets during...

Persistent link: https://www.econbiz.de/10010404154

Personal bankruptcy law, wealth and entrepreneurship : theory and evidence from the introduction of a "fresh start"

Fossen, Frank M. - 2011

A personal bankruptcy law that allows for a "fresh start" after bankruptcy reduces the individual risk involved in entrepreneurial activity. On the other hand, as risk shifts to creditors who recover less of their credit after a debtor's bankruptcy, lenders may charge higher interest rates or...

Persistent link: https://www.econbiz.de/10008826701

Insolvency after the 2005 bankruptcy reform

Albanesi, Stefania; Nosal, Jaromir - 2015

, especially, the financial cost of filing for bankruptcy. We study the effects of the reform on bankruptcy, insolvency, and …. We find that the decline in bankruptcy filings resulted in a rise in the rate and persistence of insolvency as well as an … that insolvency is associated with worse financial outcomes than bankruptcy, as insolvent individuals have less access to …

Persistent link: https://www.econbiz.de/10010505950

Debt recovery in firm liquidations : do liquidation trustees matter?

Cepec, Jaka; Grajzl, Peter; Zajc, Katarina - 2016

Insolvency systems play a crucial role in protection of creditor rights, yet micro-level empirical evidence on the … functioning of insolvency regimes worldwide is sparse. We investigate whether creditors' recovery of outstanding claims, a measure … of ex-post efficiency of an insolvency regime, depends on the characteristics of the trustee delegated the administration …

Persistent link: https://www.econbiz.de/10011518156

Debt-equity conversions and NPL securitization in China : some initial considerations

Daniel, James Alexander; Garrido, José María; … - 2016

This note considers the role debt-equity conversions and NPL securitization can play in addressing excessive corporate debt in China, and the corresponding burden on banks of impaired assets. It finds that such techniques can play a role, but getting their design right is critical, as is nesting...

Persistent link: https://www.econbiz.de/10011552683

Limiting limited liability

Dari-Mattiacci, Guiseppe - 2006

Limited liability may result in inefficient accident prevention, because a relevant portion of the expected harm is externalized on victims. This paper shows that under some restrictive conditions further limiting liability by means of a liability cap can improve caretaking.

Persistent link: https://www.econbiz.de/10011349185

Developing distress resolution procedures for financial institutions

Wihlborg, Clas - 2012

general insolvency law and the special characteristics of banks and the financial system, approaches to resolution procedures …

Persistent link: https://www.econbiz.de/10011711554

Insights into the impact of bankruptcy's public record on entrepreneurial activity : evidence from economic experiments

Dulleck, Uwe; Howell, Nicola J.; Koessler, Ann-Kathrin; … - 2018

In this paper, I assess labor market returns of a substantial skill upgrade: college enrollment of the vocationally trained, non-traditional students who do not have the formal entry requirement. Using propensity-scoreadjusted regressions and the National Educational Panel Study, I find that...

Persistent link: https://www.econbiz.de/10011876209