Improving the efficiency of functioning of the bankruptcy institution in the Russian Federation: the value-based approach
Eugene Kochetkov ()
Strategic decisions and risk management, 2017
Today the bankruptcy institution develops dynamicallyÂ under the influence of various factors. This is required the formationÂ of the universal goals of the bankruptcy institution withÂ considering of features of the current socio-economic development.Â On the other hand, the transformation purposes of theÂ bankruptcy institution towards rehabilitation focus is not alwaysÂ accompanied by an increase of efficiency of bankruptcyÂ procedures, that confirms by the statistics data in the Russia.Â Thereby author investigated the issues of determining the universalÂ target installation of bankruptcy institution, as well as anÂ analysis of the bankruptcy models, which confirmed the effectivenessÂ of the bankruptcy models in which decisions on rehabilitationÂ or liquidation of the debtor is based on value criteria. In order to enhance the rehabilitation capacity of the bankruptcyÂ institution in Russia on the basis of a systematic approachÂ author proposed changes in the concept of the impact of theÂ bankruptcy procedures, measures to improve the efficiency ofÂ bankruptcy procedures, and explore the essence of the processÂ of restoring the debtor's solvency. It is proved that the purposeÂ of rehabilitation of bankruptcy procedures should be the preservationÂ of the debtor's business with the new owner of moreÂ efficient, taking into account interests of society as a whole.
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Persistent link: https://EconPapers.repec.org/RePEc:abw:journl:y:2017:id:662
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