Défaut de paiement stratégique et loi sur les défaillances d'entreprises

Strategic default and bankruptcy law

Bertrand Chopard and Eric Langlais

MPRA Paper from University Library of Munich, Germany

Abstract: We compare the influence of bankruptcy law on the risk of default and the rate of liquidation by banks. We show that it depends on whether it is pro-creditors or pro-debtors oriented, and on the intensity of competition between banks. Then , we analyse the various tools at the disposal of public authority in order to accomdate the transition from a pro-creditors regime to a pro-debtors one. In a sense, our results suggest that there may exist a kind of consistency between the aims assigned to law, the orientation of bankruptcy law and the level of competition in the banking system.

Keywords: default risk; law & finance; bankruptcy law (search for similar items in EconPapers)
JEL-codes: D14 G0 G28 G33 K1 K2 K3 (search for similar items in EconPapers)
Date: 2009-03
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/14366/1/MPRA_paper_14366.pdf original version (application/pdf)

Related works:
Working Paper: Défaut de paiement stratégique et loi sur les défaillances d’entreprises (2009)
Working Paper: Défaut de paiement stratégique et loi sur les défaillances d’entreprises (2009)
Working Paper: Défaut de paiement stratégique et loi sur les défaillances d’entreprises (2009)
Working Paper: Défaut de paiement stratégique et loi sur les défaillances d’entreprise (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:14366

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().