How Does Personal Bankruptcy Law Affect Startups?
نویسندگان
چکیده
منابع مشابه
AGeneral Equilibrium Analysis of Personal Bankruptcy Law
We analyse an economy where principals and agents match and contract subject to moral hazard. Bankruptcy law defines the limited liability constraint in these contracts. We analyse Walrasian allocations to generate the following predictions: (i) weakening bankruptcy law causes redistribution of debt and welfare from poor agents and principals to rich agents; (ii) exemption limits Pareto-dominat...
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In this paper we analyze the relationship between strictness of employment protection and efficiency of bankruptcy law. We argue that country’s legal tradition provides the appropriate institutional proxy to explain the nature of such relationship. We find that for civil law countries where bankruptcy procedures are more inefficient a stricter employment protection policy is enforced. For commo...
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ژورنال
عنوان ژورنال: The Review of Financial Studies
سال: 2016
ISSN: 0893-9454,1465-7368
DOI: 10.1093/rfs/hhw081