Bankruptcy delay and firms’ dynamics
| Autor: | Alessandro Melcarne, Giovanni B. Ramello |
|---|---|
| Přispěvatelé: | EconomiX, Université Paris Nanterre (UPN)-Centre National de la Recherche Scientifique (CNRS) |
| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Economics and Econometrics
Entrepreneurship 050208 finance Yield (finance) 05 social sciences Monetary economics Societal level [SHS.ECO]Humanities and Social Sciences/Economics and Finance General Business Management and Accounting Indirect costs Dynamics (music) Bankruptcy [No keyword available] 0502 economics and business 8. Economic growth Organizational structure Business 050207 economics 050203 business & management |
| Zdroj: | Small Business Economics Small Business Economics, 2020, 54 (2), pp.405-419. ⟨10.1007/s11187-018-0041-5⟩ Small Business Economics, Springer Verlag, 2020, 54 (2), pp.405-419. ⟨10.1007/s11187-018-0041-5⟩ Small Business Economics, Springer Verlag, 2020, 54, pp.405-419 |
| ISSN: | 0921-898X 1573-0913 |
| DOI: | 10.1007/s11187-018-0041-5⟩ |
| Popis: | The present paper explores the link between bankruptcy law and firms’ dynamics, focusing on Italy as a case study. Relying on a previous literature dealing with the concept of entrepreneurship “friendly” bankruptcy law, we stress the idea that bankruptcy institutions, although connected to a painful event for firms, might still yield beneficial consequences on a societal level. In particular, we find evidence that quicker judicial resolutions of liquidation bankruptcies have an impact on firms’ entry and exit rates in Italy, by reducing the indirect costs that a bankrupt firm must undergo and allowing a quicker reallocation of assets towards more efficient destinations. Such effect is related with firms’ organizational structure and size. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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