haku: @journal_id 33 / yhteensä: 575
viite: 103 / 575
| Tekijä: | Kaiser, K. M. J. |
| Otsikko: | European bankruptcy laws : implications for corporations facing financial distress |
| Lehti: | Financial Management
1996 : AUTUMN, VOL. 25:3, p. 67-85 |
| Asiasana: | BANKRUPTCY LAW |
| Kieli: | eng |
| Tiivistelmä: | This study presents brief summaries and comparisons of the reorganization opportunities within the current bankruptcy codes in the US, the UK, France, and Germany. I also discuss the main implications for firms facing financial distress according to the provisions available. The focus is on the usefulness of the applicable legal framework in ameliorating the difficulties facing a distressed debtor; mainly, asymmetries of information, conflicts of interest, distorted incentives, and ability to obtain financing to remain in business. In spite of some effort to remedy the situation, continental European nations continue to provide mixed opportunities and provisions for resolving the problem facing a viable, liquidity-constrained firm. |
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