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Institutional and Behavior Foundations of Crisis and Bankruptcy

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  • Kamen Kamenov

Abstract

The problems concerning the financial and economic crisis are multifaceted. The focus on the institutional and behavioral foundations of crisis and bankruptcy reveals another aspect – of the behavior of the human factor and the psychological reasons for emerging of crisis situations. The behavior of the market subjects throughout the crisis is not less significant for coming out of it and for setting up a sustainable market. The analysis of the flexible crisis network as the last obstacle before the bankruptcy justifies the search of new forms of market behavior, matching up the available conditions.

Suggested Citation

  • Kamen Kamenov, 2009. "Institutional and Behavior Foundations of Crisis and Bankruptcy," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 3-23.
    • Handle: RePEc:bas:econth:y:2009:i:4:p:3-23
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    More about this item

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • L16 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Industrial Organization and Macroeconomics; Macroeconomic Industrial Structure
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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