Sanctions and their role in preventing the appropriation of the creditor’s property rights in bankruptcy proceedings–the case of Poland

Morawska Sylwia, Błażej Prusak, Banasik Przemysław and Woźniak-Jęchorek Beata ()
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Morawska Sylwia: Warsaw School of Economics, Collegium of Business Administration, ul. Madalińskiego 6/8, 02-513Warszawa, Poland.
Banasik Przemysław: Gdańsk University of Technology, Faculty of Management and Economics, ul. Traugutta 79, 80-233Gdańsk, Poland.
Woźniak-Jęchorek Beata: Poznań University of Economics and Business, Department of Macroeconomics and Development Studies, al. Niepodległości 10, 61-875Poznań, Poland

Economics and Business Review, 2019, vol. 5, issue 1, 93-113

Abstract: The aim of this paper is to fill the cognitive gap regarding the role of sanctions in the protection of a creditor’s property rights in the event of an entrepreneur insolvency. The impact of sanctions on transaction costs, including their identification and types, as well as the impact on the protection of creditor rights, has been poorly recognized in the subject literature to date. This article investigates the theory of transaction costs and property rights by providing an identification and description of formal negative sanctions, as well as their impact on counteracting the appropriation of creditors’ rights in bankruptcy proceedings. These studies are part of the discussion on the role of formalized negative sanctions, in terms of enforcing behaviours expected by the legislator.

Keywords: sanctions; bankruptcy law; transaction costs; property rights theory (search for similar items in EconPapers)
JEL-codes: D23 K12 K15 K41 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecobur:v:5:y:2019:i:1:p:93-113:n:6

DOI: 10.18559/ebr.2019.1.6

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