Bankruptcy Law: a Mechanism of Governance for Financially Distressed Firms

Reference : Bankruptcy Law: a Mechanism of Governance for Financially Distressed Firms


	Document type :	Scientific journals : Article
	Discipline(s) :	Law, criminology & political science : Public law Business & economic sciences : Finance Business & economic sciences : Economic systems & public economics
	To cite this reference:	http://hdl.handle.net/10993/16022

Title :	Bankruptcy Law: a Mechanism of Governance for Financially Distressed Firms
Language :	English
Author, co-author :	Blazy, Régis [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Luxembourg School of Finance (LSF)]
	Chopard, Bertrand [> >]
	Fimayer, Agnès [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Luxembourg School of Finance (LSF)]
Publication date :	1-Jun-2008
Journal title :	European Journal of Law and Economics
Publisher :	Springer US
Volume :	25
Issue/season :	3
Pages :	253-267
Peer reviewed :	No
ISSN :	0929-1261
e-ISSN :	1572-9990
Keywords :	[en] Bankruptcy ; Governance ; Law and Economics ; K29
Abstract :	[en] This paper explores the various governance models for financially distressed firms. We offer a new typology of major bankruptcy models and provide a connection between this bankruptcy law puzzle and the variables depicting the governance of healthy firms in order to shed light on two topics: (1) the factors that the lawyer should consider before removing its national bankruptcy law, and (2) the risks associated with each bankruptcy model according to the economic literature on bankruptcy law. Our final aim is to test whether the various bankruptcy models detailed in the paper perform in separate economic and legal environments.
Permalink :	http://hdl.handle.net/10993/16022
DOI :	10.1007/s10657-008-9048-8

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