The impact of institutional and macroeconomic conditions on aggregate business bankruptcy ?

Sami Ben Jabeur (), Salma Mefteh-Wali and Carmona Pedro
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Sami Ben Jabeur: UR CONFLUENCE : Sciences et Humanités (EA 1598) - UCLy - UCLy (Lyon Catholic University), ESDES - ESDES, Lyon Business School - UCLy - UCLy - UCLy (Lyon Catholic University)

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Abstract: This paper investigates the aggregate business bankruptcy in relation to three macro-level factors: the government effectiveness, entrepreneurship activity and control of corruption for six European countries during the period from 2004 to 2017. We employ fuzzy-set qualitative comparative analysis (fsQCA) and partial least squares regression (PLS). Our findings show that countries with a high level of new firm creation and entrepreneurial activity can lead to a rise in the number of company failures. Furthermore, countries with a low corruption index and high levels of government effectiveness can mitigate insolvency. Our results have several policy implications for the evaluation and modification of the bankruptcy legal process.

Date: 2021-12
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Published in Structural Change and Economic Dynamics, 2021, 59, pp.108-119. ⟨10.1016/j.strueco.2021.08.010⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05238301

DOI: 10.1016/j.strueco.2021.08.010

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