The aim of this article is to highlight the Target Costing concept and the way in which the concept is used by the Romanian entities. The article analyzes the concept starting from the time of i ts appearance and up to the present moment, presenting the concept’s characteristics and its mode...

In a market economy, insolvency is a common phenomenon. Its amplitude is, however, an important barometer for sustainable economic development and for the normal economic processes and financial stability and predictability of the business environment, entrepreneurial management quality. The...

This Technical Note examines the financial situation of Italian households and nonfinancial corporations and risks to the banking system. The credit risk from Italian households is mitigated by their considerable net wealth. Income has declined during the crisis, leading to tighter financial...

This paper assesses compliance of the Basel Core Principles for Effective Banking Supervision in Spain. Significant changes have occurred in Spain since the last Financial Sector Assessment Program (FSAP). The most serious has been the deterioration of the economy and the real estate sector. The...

We extend the contingent claims framework for the levered firm in explicitly modeling the resolution of financial distress under formal bankruptcy as a non-cooperative game between claimants under the supervision of the bankruptcy judge. The identity of the class of claimants proposing the first...

This study investigates the link between bankruptcy and security legislation and potential credit losses faced by banks based on a cross-country study for the United States (US), the United Kingdom (UK) and Germany. Focusing on corporate credit, we find that legislation produces the highest...

The global financial crisis hit the Netherlands' financial sector hard. This note analyzes the Dutch framework for crisis management and bank resolution, and formulates recommendations to address observed weaknesses. The overall framework for official financial support to stem systemic crisis is...

В статье «Понятие и признаки преднамеренного банкротства» рассматривается Федеральный закон «О несостоятельности (банкротстве)», принятый Государственной...

В данной статье рассматривается правовое регулирование соглашений, заключаемых в процессе несостоятельности (банкротства). Автор дает комплексную оценку...

Based on a simple framework, this note clarifies the economics behind bank restructuring and evaluates various restructuring options for systemically important banks. The note assumes that the government aims to reduce the probability of a bank’s default and keep the burden on taxpayers...