Economic Valuation of the Efficiency of Bankruptcy Systems

27 Pages Posted: 20 Jul 2006  

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

Date Written: July 2006

Abstract

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.

Keywords: Corporate insolvency, Bankruptcy Law Efficiency, Market Valuation

JEL Classification: G33, G38, G14

Suggested Citation

Gutiérrez, Carlos Lopez and Garcia Olalla, Myriam and Torre Olmo, Begoña, Economic Valuation of the Efficiency of Bankruptcy Systems (July 2006). Available at SSRN: https://ssrn.com/abstract=917784 or http://dx.doi.org/10.2139/ssrn.917784

Carlos López Gutiérrez (Contact Author)

University of Cantabria - Department of Business Administration ( email )

Avda. Los Castros, s/n
39005 - Santander (Cantabria)
Spain
+34 942 202007 (Phone)
+34 942 201890 (Fax)

Myriam García Olalla

University of Cantabria ( email )

Avda. Los Castros, s/n
39005 - Santander (Cantabria)
Spain

Maria Begoña Torre Olmo

University of Cantabria - Department of Economics ( email )

Av. Los Castros s/n
39005 - Santander (Cantabria), Cantabria 39005
Spain
+34942200941 (Phone)
+34942201890 (Fax)

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