The aim of this work is to analyze the factors that help companies avoid liquidation following the spirit of the Spanish insolvency law. This work focuses on the phase starting when companies file for bankruptcy and ending with the completion of the common phase. We apply the agency theory to...

Der Bericht analysiert Unternehmensdynamiken in Deutschland und im Speziellen hinsichtlich der deutschen Wissenswirtschaft. Dabei werden Informationen zum Gründungs- und Schließungsgeschehen in Deutschland von 2005 bis 2024 bezüglich unterschiedlicher Branchen und Bundesländer untersucht und...

We study decentralized lending on Aave V3, the largest DeFi lending protocol by total value locked. Using transaction-level data, we analyze its revenue model, borrower behavior, and liquidation dynamics. We find that protocol earnings are concentrated in a few tokens, that many users engage in...

Background Medicare Advantage (MA) penetration rates have shown an increase in rural areas in the past decade, increasing the bargaining power of MA plans relative to rural hospitals. We study the effect that this increase has had in the revenue of rural hospitals through reductions in the...

Der Bericht analysiert Unternehmensdynamiken in Deutschland und im Speziellen hinsichtlich der deutschen Wissenswirtschaft. Dabei werden Informationen zum Gründungs- und Schließungsgeschehen in Deutschland von 2005 bis 2023 bezüglich unterschiedlicher Branchen und Bundesländer untersucht und...

This study examines the effects of unemployment on bitterness, which describes a feeling of not having achieved what one deserves compared to others. Pooled OLS and fixed effects estimates reveal a positive association between unemployment and bitterness. To identify the causal effect of...

Mine closure and remediation must be treated as integral to the mining life cycle, not an afterthought. Authorities should enforce strong legal, financial and contractual safeguards to protect the environment and communities, ensuring multinational operators bear full responsibility for...

Does a firms resilience distinguish itself from its mere probability of survival in a way that justifies the expanding research? Answers to this question are found through a novel, systematic literature review focusing on the company's life phase and its type of market exit. A comparison with...

This study reframes closure intention in small- and medium-sized enterprises (SMEs) as an ex ante diagnostic signal rather than a post-mortem symptom of failure. The survey evidence from 385 Ecuadorian SMEs was analyzed in two stages; confirmatory factor analysis validated the scales capturing...

The aim of this work is to analyze the factors that help companies avoid liquidation following the spirit of the Spanish insolvency law. This work focuses on the phase starting when companies file for bankruptcy and ending with the completion of the common phase. We apply the agency theory to...

This paper studies the labor supply responses of parents to anticipated school closures due to school holidays and unanticipated school closures due to the COVID-19 pandemic in Switzerland. Using the variation in the timing of school holidays by region, we find that while both fathers and...

This study examines the response among young adults to the closure of a large local employer. By using military base closures in Sweden, I find that men experience lower earnings and enroll in tertiary education. This is driven by low-ability men who choose shortterm enrollment at nearby...

This paper studies the role of credit constraints in accounting for the dynamics of firm exit during the Great Recession. We present novel firm-level evidence on the role of credit constraints on exit behavior during the Great Recession. Firms in financial distress, with tighter access to...

We develop a credit-risk model to study the informational role of investment in an economy susceptible to large liquidity shocks. Firms' investment decisions carry information about their asset quality, thereby mitigating informational frictions when firms enter bankruptcy. An increase in...

Private firms establish relationships with banks in local markets to obtain adequate financing for their operations through credit and loans. As major banks reduced their branch networks in recent years, many firms have lost access to their local bank. We evaluate the impact of a large number of...

The paper investigates the influence of the speed of liquidation of insolvent firms on leverage. The theoretical model presented formalizes the intuitive view that an increase in liquidation speed is expected to decrease average leverage as highly leveraged firms exit. Analysis of Indian data,...

We analyze how corporate reorganization and liquidation change labor reallocation during bankruptcy using randomized judge assignments and linked Portuguese employer-employee and firm data. Reorganization reduces the negative effect of bankruptcy on employee earnings, even with most workers...

The article looks at exit taxation within the European Union, including how it affects cross-border mergers. It starts with an explanation of the concept of exit tax, followed by an analysis of the current legislation and an analysis of the case law of the European Court of Justice. The article...