Economic Valuation of the Efficiency of Bankruptcy Systems
Carlos Lopez Gutiérrez
University of Cantabria - Department of Business Administration
Myriam Garcia Olalla
University of Cantabria
Begoña Torre Olmo
University of Cantabria - Department of Economics
The market valuation of corporate insolvency problems is conditioned by the attributes of bankruptcy laws, with different codes traditionally being oriented toward protecting the debtor or the creditor. Nevertheless, it is also necessary to address the objective of each concrete measure established in the legislation to try to resolve financial distress. This study carries out an approximation, taking into account the different types of efficiency in bankruptcy regulations, the antagonistic character that, on occasions, exists between them, and the market valuation of each one of these, by way of an international analysis undertaken within the main European Union countries.
Number of Pages in PDF File: 27
Keywords: Corporate insolvency, Bankruptcy Law Efficiency, Market Valuation
JEL Classification: G33, G38, G14working papers series
Date posted: July 20, 2006
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