A review of bankruptcy literature: a law and finance approach

Afef Boughanmi and Nirjhar Nigam ()
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Afef Boughanmi: BETA - Bureau d'Économie Théorique et Appliquée - INRA - Institut National de la Recherche Agronomique - UNISTRA - Université de Strasbourg - UL - Université de Lorraine - CNRS - Centre National de la Recherche Scientifique
Nirjhar Nigam: ICN Business School, CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine

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Abstract: The aim of this paper is to provide for a comprehensive view of bankruptcy law. We start by analyzing in detail the previous literature, presenting recent studies that have tried to overcome some of the drawbacks and end by suggesting methodology that could lead to improve these studies. Indeed, to study the efficiency of bankruptcy law requires not only looking into the legislation of various countries but also the quality of its enforcement as "for similar firms filing for bankruptcy in different countries, we could expect different outcomes for creditors depending on the level of creditor protection provided by bankruptcy code", Davydenko and Franks (2007). In globalized economy it's imperative for corporations to have an understanding of the dynamics of bankruptcy procedures not only to protect themselves from pursuing creditors, but to revive out of financial distress and to sustain in changing environment.

Keywords: creditor friendly; debtor friendly; legal indexes; bankruptcy procedure; law and finance (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

Published in Revue de l'Organisation Responsable, 2013, 8 (2), pp.63. ⟨10.3917/ror.082.0063⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01369459

DOI: 10.3917/ror.082.0063

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