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Risks, Privatization and Interenterprise Arrears in Transition Economies

Kim, Se-jik; Kwon, Goohoon - 2003

The rapid accumulation and persistence of interenterprise credits and arrears is a fairly common phenomenon in transition economies, posing serious policy concerns. A general equilibrium model of production chains is presented to analyze this phenomenon and provide policy implications. The model...

Persistent link: https://www.econbiz.de/10014178493

Lost in Transition : Section 447a and the Question of Members' Rights When a Company Transitions from Voluntary Administration to a Creditors' Voluntary Liquidation

Harris, Jason - 2008

One of the benefits of voluntary administration under Pt 5.3A of the Corporations Act 2001 (Cth) is that it allows for a smooth transition from administration to a creditors' voluntary liquidation, particularly when the company cannot be returned to profitability by either the period of...

Persistent link: https://www.econbiz.de/10012774340

Debt Restructuring in Transition

Payne, Jennifer - 2022

transformation. The first is legislative: the Corporate Insolvency and Governance Act 2020 (CIGA) introduced a number of powerful new … system for debt restructuring and insolvency more generally; (iii) a blurring of the boundary between restructuring and … insolvency; and (iv) a more complex cross-border regime. In combination these amount to a seismic shift in the UK debt …

Persistent link: https://www.econbiz.de/10013307879

Measuring the Effectiveness of Bankruptcy Institutions : Filtering Failures in Slovenian Financial Reorganizations

Cepec, Jaka - 2018

We examine micro-level data on Slovenian court-supervised financial reorganizations in order to provide a rare empirical insight into the effectiveness of bankruptcy institutions at fulfilling their primary role: encouraging the liquidation of non-viable firms and promoting the restructuring of...

Persistent link: https://www.econbiz.de/10012918509

Law and Finance in Transition Economies

Pistor, Katharina; Raiser, Martin; Gelfer, Stanislav - 2005

This paper offers the first comprehensive analysis of legal change in the protection of shareholder and creditor rights in transition economies and its impact on the propensity of firms to raise external finance. Following La Porta et al. (1998), the paper constructs an expanded set of legal...

Persistent link: https://www.econbiz.de/10014165663

A General Equilibrium Approach to Interenterprise Arrears in Transition Economies with Application to Russia

Kim, Se-jik - 2014

This paper presents a general equilibrium model of interenterprise arrears, characterized by n-stage production technology with random productivity shocks. The model shows that large interenterprise arrears in transition economies may reflect substantial business risks in those countries and...

Persistent link: https://www.econbiz.de/10012752383

Review of research into enterprise bankruptcy prediction in selected Central and Eastern European countries

Prusak, Błażej - In: International Journal of Financial Studies : open … 6 (2018) 3, pp. 1-28

Bulgaria and Latvia are on the other end. In the remaining countries, traditional approaches to predicting business insolvency …

Persistent link: https://www.econbiz.de/10011884198

Transition Results and Perspectives of (Un)Healthy Credit Growth in Central, Eastern and South-Eastern Europe

Haiss, Peter R. - 2011

Since the late 1990s financial strategies for opening Eastern European markets and entry strategies of foreign banks in most CESEE countries included triggers for strong credit growth, especially in the private sector. What are the transition results on the macro level? Does this credit growth...

Persistent link: https://www.econbiz.de/10013117817

The Effect of Bank Concentration on Entrepreneurship in Central and Eastern European Transition Countries

Bergantino, Angela Stefania - 2012

This paper sheds light on the impact of bank concentration on the entrepreneurial initiative in the Central and Eastern European transition countries over the period 2000-2007. Our investigation provides evidence of a non-monotonic relationship: bank concentration promotes entrepreneurship;...

Persistent link: https://www.econbiz.de/10013097985

Private Credit Development and Economic Growth In Transition Economies

Bakardzhieva, Damyana - 2009

This research compares the links between the economic growth and the development of banking credit for the private sector in three transition economies. The empirical results confirm the choice of a case-by-case analytical and time series econometrical approach. Each country has its own...

Persistent link: https://www.econbiz.de/10013156628