| 来源类型 | Working Paper
|
| 规范类型 | 报告
|
| DOI | 10.3386/w17237
|
| 来源ID | Working Paper 17237
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| Corporate and Personal Bankruptcy Law |
| Michelle J. White
|
| 发表日期 | 2011-07-21
|
| 出版年 | 2011
|
| 语种 | 英语
|
| 摘要 | Bankruptcy is the legal process by which the debts of firms, individuals, and occasionally governments in financial distress are resolved. Bankruptcy law always includes three components. First, it provides a collective framework for simultaneously resolving all debts of the bankrupt entity, regardless of when they are due. Second, it provides rules for determining how the assets and earnings used to repay are divided among creditors. Third, bankruptcy law specifies punishments intended to discourage debtors from defaulting on their debts and filing for bankruptcy. This review discusses and evaluates bankruptcy law by examining whether and when the law encourages debtors and creditors to behave in economically efficient ways. It also considers how bankruptcy law might be changed to improve economic efficiency. The review shows that there are multiple economic objectives of bankruptcy law, because the law affects has very diverse effects. Some of these objectives differ for individuals versus corporations in bankruptcy. |
| 主题 | Financial Economics
; Corporate Finance
; Other
; Law and Economics
|
| URL | https://www.nber.org/papers/w17237
|
| 来源智库 | National Bureau of Economic Research (United States)
|
| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/574912
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推荐引用方式
GB/T 7714 |
Michelle J. White. Corporate and Personal Bankruptcy Law. 2011.
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|
文件名：
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w17237.pdf
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格式：
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Adobe PDF
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