Creditor rights and lending relationships

Saibal Ghosh

Applied Economics Letters, 2023, vol. 30, issue 9, 1194-1198

Abstract: We assess the impact of the Insolvency and Bankruptcy Code (IBC) enacted in India in 2016 on corporate behaviour. Using firm-level data for 2009–2018, we find that IBC lowered debt and borrowing costs. The impact was pronounced for firms with multiple banking relationships, although it was firms with single banking relationships that experienced significant cutbacks in investment.

Date: 2023
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DOI: 10.1080/13504851.2022.2041169

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