The DOI matches its Crossref record; 8 of the 8 references it cites were found in a registry or an index.
Bankruptcy around the World: Explanations of Its Relative Use
Open accessAbstract
The law and finance literature highlights the role of investor rights in financial development, firm corporate governance, and financing patterns. For a panel of 35 countries, we investigate how bankruptcy use relates to countries’ creditor rights and judicial efficiency. Bankruptcies are higher in countries with more creditor rights, except for a “no automatic stay on assets” provision. Higher judicial efficiency is associated with more bankruptcies and appears as a substitute with more creditor rights. Although only a first step, our findings suggest creditor rights are complex, balancing prioritization of claims, ex ante risk-taking incentives, and an efficient resolution of distressed firms.
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Cites
The colonial origins of comparative development: An empirical investigation
Acemoglu, D., Johnson, S., & Robinson, J. A. (2001) · American Economic Review · doi:10.1257/aer.91.5.1369 · Cited by 8,517
What Do We Know about Capital Structure? Some Evidence from International Data
RAJAN, R. G., & ZINGALES, L. (1995) · The Journal of Finance · doi:10.1111/j.1540-6261.1995.tb05184.x · Cited by 6,538
Djankov, S., La Porta, R., Lopez-de-Silanes, F., & Shleifer, A. (2002) · The Quarterly Journal of Economics · doi:10.1162/003355302753399436 · Cited by 3,956 · cited 1×
“TIME is the number of business days required for a business to become operational (Djankov et al., 2000).”
The Colonial Origins of Comparative Development: An Empirical Investigation
Acemoglu, D., Johnson, S. H., & Robinson, J. A. (2000) · SSRN Electronic Journal · doi:10.2139/ssrn.244582 · Cited by 2,663
Law, Finance, and Economic Growth
Levine, R. (1999) · Journal of Financial Intermediation · doi:10.1006/jfin.1998.0255 · Cited by 1,183
Culture, Openness, and FinancePreprint
Williamson, R. G., & Stulz, R. M. (2001) · SSRN Electronic Journal · doi:10.2139/ssrn.263507 · Cited by 250
The Changing Corporate Governance Paradigm: Implications for Transition and Developing Countries
Bergl�f, E., & von Thadden, E.-L. (1999) · SSRN Electronic Journal · doi:10.2139/ssrn.183708 · Cited by 229
Patterns of Legal Change: Shareholder and Creditor Rights in Transition Economies
Pistor, K. (2000) · European Business Organization Law Review · doi:10.1017/s1566752900000069 · Cited by 196
Cited by
An International Comparison of Capital Structure and Debt Maturity Choices
Fan, J. P. H., Twite, G. J., & Titman, S. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.423483 · Cited by 339
How do bankruptcy laws affect entrepreneurship development around the world?
Lee, S.-H., Yamakawa, Y., Peng, M. W., & Barney, J. B. (2011) · Journal of Business Venturing · doi:10.1016/j.jbusvent.2010.05.001 · Cited by 326
Bankruptcy Law and Entrepreneurship Development: A Real Options Perspective
Lee, S.-H., Peng, M. W., & Barney, J. B. (2007) · Academy of Management Review · doi:10.5465/amr.2007.23464070 · Cited by 323
Hussain, A. B., & Sun, J. (2026) · Journal of Forecasting · doi:10.1002/for.70193
Metadata
- Authors
- Claessens, S.
- Venue
- American Law and Economics Review
- Publisher
- Oxford University Press (OUP)
- Published
- 2005-03-01
- Volume
- 7
- Issue
- 1
- Pages
- 253-283
- ISSN
- 1465-7252 (ISSN-L)
- 1465-7260
- OpenAlex
- W2087581179
- Cited by
- 448
- References
- 8
- FWCI
- 67.81
- Type
- journal article
- Language
- en
- Open access
- bronze
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