کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5085985 | 1478085 | 2008 | 12 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
How do insolvency codes affect a firm's investment?
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
This paper provides an ex ante analysis of the effect of financial insolvency codes on investment by examining the main characteristics embodied in several codes that may cause investment distortions. The results from the estimation of an extended version of the q model of investment show a negative relationship between ex ante insolvency costs and investment. Furthermore, most of the analysed characteristics of insolvency codes negatively impact on investment; however, the magnitude of this effect is greater concerning those of reorganization without creditors' consent and creditors' lack of control, as compared to those of automatic stay and the violation of absolute priority.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Law and Economics - Volume 28, Issue 4, December 2008, Pages 227-238
Journal: International Review of Law and Economics - Volume 28, Issue 4, December 2008, Pages 227-238
نویسندگان
Julio Pindado, Luis Rodrigues, Chabela de la Torre,