the Spanish bankruptcy system relative to that of an alternative insolvency institution, the mortgage system, and the … a hypothesis to explain why Spain has one of the world’s lowest business bankruptcy rates, even during the current … unattractiveness of the personal bankruptcy law ; Utilizando una amplia base de datos de más de 1 millón de empresas españolas …

liquidaciones ineficientes ; The paper warns about the potential efficiency losses associated with low business bankruptcy rates … (number of fi rms filing for bankruptcy as a proportion of the total stock of firms) and shows that welfare could be improved … by increasing the protection of creditors in the bankruptcy system. These ideas are illustrated with the Spanish case …

than the main alternative procedure, the mortgage foreclosure ; (ii) personal bankruptcy law is unattractive to the … corporativa y personal ; Small businesses, the majority of Spanish firms, rarely file for formal bankruptcy, and this has been the … case even during the current economic crisis. This suggests that bankruptcy law has a limited role to play in the distress …

Several studies attributed the rise of household bankruptcy in the past two decades to the decline of social stigma … and can account for one third to half of the increase in the number of bankruptcy filings from 1992 to 1998. …

contract driven bankruptcy system to the court driven system, and their implications for failed VC funded firms. This paper … put into the bankruptcy system for liquidation/ reorganization because the realized value from the small firms often do … not cover the cost of the bankruptcy process. Consequently, it is difficult to ascertain the impact of corporate …