Bankruptcy and institutions

Michael Alexeev and Jounghyeon Kim

Economics Letters, 2012, vol. 117, issue 3, 676-678

Abstract: We use a simple model to show that the importance of retained earnings and ownership concentration as bankruptcy determinants is inversely related to institutional quality. A test employing firm-level data for Korea and the US is consistent with this prediction.

Keywords: Bankruptcy; Institutions; Ownership concentration (search for similar items in EconPapers)
JEL-codes: G33 L25 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:117:y:2012:i:3:p:676-678

DOI: 10.1016/j.econlet.2012.08.021

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