Bankruptcy is the legal process whereby financially distressed firms, individuals, and occasionally governments resolve … their debts. The bankruptcy process for firms plays a central role in economics, because competition drives inefficient … corporate bankruptcy is to reduce the cost of default by having a government-sponsored procedure that resolves all debts …

heavily on international trade. Our study tries to find the determinants of bankruptcy in Chinese firms. Both logit and … suggest that firms with liquidity problems and firms experiencing a decline in profits are more likely to file for bankruptcy …-owned enterprises, and foreign-owned businesses are more likely to file for bankruptcy. This conclusion is robust after controlling for …

liquidation and reorganization during economic transformation. The reforms of the financial system and other important factors in … economic transformation influence the impact of bankruptcy regulation in a way distorting it towards liquidation. …This paper looks at simple decision rules in bankruptcy procedures. It describes special issues of enterprise …