This study investigates the impact of the Insolvency and Bankruptcy Code (IBC) on the capital structure speed of adjustment (SOA) of Indian firms. The IBC, introduced in 2016, significantly enhanced creditors' rights and streamlined the bankruptcy process, providing a quasi-natural experiment to...

Relying on an unbalanced panel of 25,211 observations of Polish unlisted companies for the period 2005-2018, we employ panel data analysis to investigate the role of the capital maintenance principle in securing creditors' interests. We document a persistently higher level of indebtedness among...