between reorganization and liquidation. The results highlighted that the bankruptcy code and its enforceability efficiency …Application of a logit regression model to 555 bankruptcy filings from 30 countries from 1993 to 2009 provides insight … into the factors that determined the outcomes of two formal bankruptcy resolution procedures, reorganization, and …

, most previous studies have failed to distinguish between bankruptcy and liquidation. We hence contribute to the exit … literature by showing that bankruptcy, voluntary liquidation and M&A are fundamentally distinct exit routes for distressed firms … show that 41% of the firms in our sample exit through a court driven exit procedure (mainly bankruptcy), 44% are …

In the past ten years all transition economies have adopted modern bankruptcy legislation as part of their institution …

, most previous studies have failed to distinguish between bankruptcy and liquidation. We hence contribute to the exit … literature by showing that bankruptcy, voluntary liquidation and M&A are fundamentally distinct exit routes for distressed firms … show that 41% of the firms in our sample exit through a court driven exit procedure (mainly bankruptcy), 44% are …

We take a retrospective look at Hungary's experiment with a articularly draconian bankruptcy law. For an eighteen …-month period in 1992-93, the Hungarian bankruptcy code contained an unusual automatic trigger that required the managers of firms … that held overdue debts of any size to any creditor to initiate reorganization or liquidation proceedings to avoid …