Insolvency proceedings are strategic for the competitiveness of a national economy. The new law, but also new financial situation of organizations affect the new normal of insolvency framework. In Europe, standards aimed at creating an efficient framework for corporate insolvency resolution are...

Trading the cost of better performance off the probability that an imprecise test’s performance estimate falls short of the pass threshold, an assessee may perform above the threshold (and fear failure because of negative errors) or below it (and hope to pass because of positive errors). This...

We consider an organization with two projects which have productive spillovers. Three agents are active in this organization: two agents, each specialized in one project, and the CEO, who is a generalist. The organization owner first allocates authority over each project to these three...