Characteristics of Contraction of Economic Agents in the Framework of Bankruptcy Institute

Tatyana Bukreeva (), Irena Minakova () and Natalya Tsukanova ()
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Tatyana Bukreeva: Southwest State University
Irena Minakova: Southwest State University
Natalya Tsukanova: Southwest State University

Chapter Chapter 8 in Emerging Issues in the Global Economy, 2018, pp 93-100 from Springer

Abstract: Abstract In modern conditions, bankruptcy institute is intended to preserve the balance of interests of the state and business, to regulate contractions between economic agents. At the same time, parties interacting within bankruptcy institute (a principal of an enterprise in default, shareholders, creditors, employees) have opposite interests, which lead to conflicts among them. In return, conflicts of interest have a big influence on the choice of the priority mechanism for solving the current crisis situation. The article studies the characteristics of economic agents in the situation of insolvency depending on targets and available information. It specifies the impact of identified conflict of interest based on the desire to obtain distributive advantages and the choice of a mechanism for resolving the current crisis situation: preference for rehabilitation or liquidation procedures.

Keywords: Bankruptcy institute; Agency relationship; Conflict of interests; Shareholders; Creditors (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-71876-7_8

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DOI: 10.1007/978-3-319-71876-7_8

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