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Company Directors' Liability for Insolvent Trading

Ramsay, Ian - 2006

Edited by Ian Ramsay, this book is a collection of essays that examines the liability of directors for insolvent trading. In addition to legal analysis of insolvent trading provisons in several countries, theoretical perspectives on insolvent trading are also provided. The chapters of the book...

Persistent link: https://www.econbiz.de/10014056478

Option Exchange Design : Liquidity and Trading Activity at the Swedish Index Options Market

Norden, Lars L. - 2006

combined redesign affects option market liquidity and trading activity. The results show evidence to support the idea that the … redesign has lead to lower liquidity and higher transactions costs at the options market. In fact, option bid-ask spreads are … wider and trading volume is lower following the redesign. Also, a contemporaneous increase in liquidity is observed at the …

Persistent link: https://www.econbiz.de/10014056580

Ex-Ante vs. Ex-Post Efficiency in Personal Bankruptcy Proceedings

Steiger, Eva-Maria - 2006

Amidst a sharp increase in household debt levels, many countries have substantially reformed their consumer bankruptcy regulations. I first classify the mechanisms triggered by current U.S. and European bankruptcy regulations and then evaluate these mechanisms within a hidden action model. I...

Persistent link: https://www.econbiz.de/10014056697

Entrepreneurship and the Policy Environment

Georgellis, Yannis; Wall, Howard J. - 2008

This paper uses a spatial panel approach to examine the effect of the government-policy environment on the level of entrepreneurship. Specifically, we investigate whether marginal income tax rates and bankruptcy exemptions influence rates of entrepreneurship. Whereas previous work in the...

Persistent link: https://www.econbiz.de/10014056730

Bankruptcy Filing Rates after a Major Hurricane

Lawless, Robert M. - 2006

Twelve to thirty-six months after a major hurricane, bankruptcy filing rates appear to increase for affected areas. The Article draws that conclusion by examining all eighteen hurricanes that hit the fifty United States between 1980 and 2004 and that caused $1 billion or more in damages. Despite...

Persistent link: https://www.econbiz.de/10014056822

Beyond Uncitral : Alternatives to Universality in Transnational Insolvency

Kipnis, Alexander M. - 2006

The rapid growth of international economic activity in the recent decades has brought forth a unique and formidable policy challenge. The challenge consists of reconciling two goals which sometimes compete directly with one another: creating a regime that allows economic interaction between...

Persistent link: https://www.econbiz.de/10014057179

The Bankruptcy Laws : Comparing Russia, USA, Canada, and UK

Sen, Anuradha - 2006

The article delves upon the bankruptcy laws existing in some selected market economies. Some of these are found to protect the interest of the creditors, while others protect the interests of the debtors. Since the problem of bankruptcy has been increasing nowadays in almost all parts of the...

Persistent link: https://www.econbiz.de/10014057253

Private International Debt with Risk of Repudiation

Jeske, Karsten - 2006

The risk of repudiation plays a central role in determining the size of international capital flows. In this paper I compare a centralized arrangement for international debt, where only governments borrow and lend internationally, with a decentralized arrangement, where individual borrowers have...

Persistent link: https://www.econbiz.de/10014057372

Path Dependence in the Development of U.S. Bankruptcy Law, 1880-1938

Hansen, Mary; Hansen, Bradley A. - 2006

We illustrate mechanisms that can give rise to path dependence in legislation. Specifically, we show how debtor-friendly bankruptcy law arose in the United States as a result of a path dependent process. The 1898 Bankruptcy Act was not regarded as debtor-friendly at the time of its enactment,...

Persistent link: https://www.econbiz.de/10014057515

Default and Renegotiation : A Dynamic Model of Debt

Hart, Oliver D.; Moore, John - 2007

We analyse the role of debt in persuading an entrepreneur to pay out cash flows, rather than to divert them. In the first part of the paper we study the optimal debt contract--specifically, the trade-off between the size of the loan and the repayment--under the assumption that some debt contract...

Persistent link: https://www.econbiz.de/10014072732