Bankruptcy around the world: explanations of its relative use (Record no. 47073)

MARC details
000 -LEADER
fixed length control field 00765nam a2200181Ia 4500
008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION
fixed length control field 140323b2002 xxu||||| |||| 00| 0 eng d
082 ## - DEWEY DECIMAL CLASSIFICATION NUMBER
Classification number 332.45
Item number C5B2
100 ## - MAIN ENTRY--PERSONAL NAME
Personal name Claessens, Stijn
9 (RLIN) 383132
245 ## - TITLE STATEMENT
Title Bankruptcy around the world: explanations of its relative use
260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT)
Place of publication, distribution, etc Washington, D. C.
Name of publisher, distributor, etc World Bank
Date of publication, distribution, etc 2002
300 ## - PHYSICAL DESCRIPTION
Extent 34 p.
440 ## - SERIES STATEMENT/ADDED ENTRY--TITLE
Title Policy Research Working Paper, no. 2865
9 (RLIN) 34068
520 ## - SUMMARY, ETC.
Summary, etc The recent literature on law and finance has drawn attention to the importance of creditor rights in influencing the development of financial systems and in affecting firm corporate governance and financing patterns. Recent financial crises have also highlighted the importance of insolvency systems to resolve corporate sector financial distress. The literature and crises have emphasized the complex role of creditor rights, affecting not only the efficiency of ex-post resolution of distressed corporations, but also influencing ex-ante risk-taking incentives and an economy's degree of entrepreneurship more generally. The authors document how often bankruptcy is actually being used for a panel of 35 countries. Next they investigate the effects of specific design features of insolvency regimes in relation to the quality of the countries' overall judicial systems on the use of bankruptcy. The authors find, correcting for overall financial development and macroeconomic shocks, that bankruptcies are higher in Anglo-Saxon countries and in market-oriented financial systems characterized by weaker and multiple banking relationships. They also find that greater judicial efficiency is associated with more use of bankruptcy, but that the combination of stronger creditor rights with greater judicial efficiency leads to less use. The authors find that the presence of a "stay on assets" leads to fewer bankruptcies independent of the efficiency of the judicial system. These findings suggest that there are important incentive effects of insolvency systems encouraging less risky behavior and more out-of-court settlements.<br/><br/>http://documents.worldbank.org/curated/en/311061468766468860/Bankruptcy-around-the-world-explanations-of-its-relative-use
650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM
Topical term or geographic name as entry element Bankruptcy
9 (RLIN) 20285
700 ## - ADDED ENTRY--PERSONAL NAME
Personal name Klapper, Leora F.
9 (RLIN) 24872
852 ## - LOCATION/CALL NUMBER
Classification part C5B2
942 ## - ADDED ENTRY ELEMENTS (KOHA)
Item type Books
Source of classification or shelving scheme Dewey Decimal Classification
Holdings
Withdrawn status Lost status Source of classification or shelving scheme Damaged status Not for loan Home library Current library Shelving location Date acquired Item location Total Checkouts Full call number Barcode Date last seen Koha item type
    Dewey Decimal Classification     Vikram Sarabhai Library Vikram Sarabhai Library General Stacks 04/05/2009 Rack 18-B / Slot 677 (0 Floor, West Wing)   332.45 C5B2 155574 04/09/2009 Books