Dolgozatunkban áttekintjük a reorganizációhoz és a felszámolási eljáráshoz kapcsolódó döntési folyamat jogi kereteinek egyes pontjait, illetve számba vesszük ezeknek az eljárásoknak a költségelemeit. Ehhez kapcsolódva kitérünk az átalakuló magyar gazdaságban követett...

We study a model where some investors ("hedgers") are bad at information processing, while others ("speculators") have superior information-processing ability and trade purely to exploit it. The disclosure of financial information induces a trade externality: if speculators refrain from trading,...

In this paper, using a unique dataset of joint-stock companies, we empirically examine the determinants of the choice and size of the collective executive board, a core element of the multi-tier board system of Russian firms. Our empirical evidence strongly suggests that the need of company...

Cooperative enterprises, the most commonly met forms of development of an industrial activity within the cooperative system; justify, from the organizational and operational point of view, a model for the company institution-contract, where the shareholders’ agreement is circumscribed to...

Individual dismissal is individual employment termination as a result of the effective abolition of the position held by the employee, for one or more reasons not related to his person, based on actual cause real and serious under art. 65 Romanian Labour Code. It should be noted that the...

Unlike the situation in most developed countries, before the enactment of China's 2006 Bankruptcy Law it was difficult for Chinese-listed companies, which were mostly government owned, to declare bankruptcy. Our analysis of a sample of Chinese financially-distressed companies from 2001 to 2010...

Prior work finds that managers beneficially time their purchases, but not sales, prior to forecasts. Focusing on if (as opposed to when) a forecast is given, we link insider selling to silence in advance of earnings disappointments. This raises the question of whether the absence of...

In the literature the issue of the protection of stakeholder interests (of employees in particular) is usually considered in a static context: how should the institutions of corporate governance be shaped having regard to already existing firms, conforming, in particular, to some subjective...

Since the first bitcoins were mined in 2009, a large number of blockchains and a vast number of different tokens have been created on the basis of distributed ledger technologies (DLT). The Web3 ecotope, with its essential characteristics such as decentralized transactions and anonymity, is...