This research investigates how legal sanctions prevailing under bankruptcy may impact on debt contracting and on investing decision. We model firms having the opportunity to engage (or not) faulty management. In case of default, the firms may escape costly bankruptcy by reaching a private...

[spa] Cuando una empresa en dificultad solicita la declaración de concurso, los juzgados mercantiles han de arbitrar entre el mantenimiento de la actividad y del empleo o el procedimiento de liquidación. Este arbitraje se encuentra previsto en la ley de tratamiento judicial de empresas en...

Based on French data describing the characteristics of entrepreneurs and their projects, this article studies the differences between the determinants of survival for innovative and non-innovative micro-enterprises. We show that the survival of innovative and non-innovative enterprises is linked...

This empirical paper investigates the paths leading to the resolution of financial distress for a sample of small and medium-sized French firms in default, focusing in particular on their decisions between bankruptcy and informal (out-of-court) renegotiations. The procedure is depicted as a...

[eng] Imitation, Demand Expectation Errors and the Risk of Bankruptcy Among Industrial Firms in France: An . Econometric Error Correction Model . Régis Blazy . Our study links up the main explanatory factors generally put forward by theoretical literature as being behind the involuntary...

[spa] Colapso de empresas : dificultades que asoman varios ahos antes . El colapso de su empresa afecta a siempre mâs asalariados : eran 273 500 en 1 992, empleados en 57 800 empresas, todos sectores confundidos (excepto las empresas agrfcolas, las entitades financieras y el sector terciario...