IDEAS home Printed from https://ideas.repec.org/p/zbw/leiwps/154.html
   My bibliography  Save this paper

Die EU-Insolvenzrichtlinie zu vorinsolvenzlichen Verfahren aus ordnungspolitischer Perspektive
[The EU directive on preventive restructuring frameworks from a ordoliberal perspective]

Author

Listed:
  • Schnabl, Gunther
  • Siemon, Klaus

Abstract

Das Papier analysiert die EU-Richtlinie zum vorinsolvenzlichen Verfahren (2016/0359 (COD)) vor dem Hintergrund der anhaltend lockeren Geldpolitik aus ordnungspolitischer Perspektive. Es wird gezeigt, dass die Voraussetzungen geschaffen werden, durch strategische Kreditvergabe an Unternehmen im vorinsolvenzlichen Verfahren auf Kosten anderer Gläubiger auf Bewertungsgewinne durch Insolvenz zu spekulieren. Zudem kann in einem Umfeld zunehmender Zombifizierung die Haftung von wirtschaftlich schwachen Unternehmen auf Kosten von leistungsfähigen Unternehmen und Banken aufgeweicht werden. Aus ordnungspolitischer Sicht ist die Richtlinie deshalb kritisch zu betrachten.

Suggested Citation

  • Schnabl, Gunther & Siemon, Klaus, 2018. "Die EU-Insolvenzrichtlinie zu vorinsolvenzlichen Verfahren aus ordnungspolitischer Perspektive [The EU directive on preventive restructuring frameworks from a ordoliberal perspective]," Working Papers 154, University of Leipzig, Faculty of Economics and Management Science.
    • Handle: RePEc:zbw:leiwps:154
    as

    Download full text from publisher

    File URL: https://www.econstor.eu/bitstream/10419/180995/1/1027666809.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Grossmann, Volker & Steger, Thomas M. & Trimborn, Timo, 2013. "The macroeconomics of TANSTAAFL," Journal of Macroeconomics, Elsevier, vol. 38(PA), pages 76-85.
    2. von Prollius, Michael & Schnabl, Gunther, 2016. "Geldpolitik, Arabellion, Flüchtlingskrise," Working Papers 146, University of Leipzig, Faculty of Economics and Management Science.
    3. Schäfer, Andreas & Schneider, Maik T., 2015. "Endogenous Enforcement Of Intellectual Property, North–South Trade, And Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 19(5), pages 1074-1115, July.
    4. McKinnon, Ronald & Schnabl, Gunther, 2008. "China's exchange rate impasse and the weak U.S. dollar," Working Papers 73, University of Leipzig, Faculty of Economics and Management Science.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Schnabl, Gunther, 2017. "Ultra-lockere Geldpolitiken, Finanzmarktblasen und marktwirtschaftliche Ordnung," Working Papers 151, University of Leipzig, Faculty of Economics and Management Science.
    2. Behnert, Marika & Bruckner, Thomas, 2018. "Cost effects of energy system stability and flexibility options: An integrated optimal power flow modeling approach," Working Papers 155, University of Leipzig, Faculty of Economics and Management Science.
    3. Schnabl Gunther & Müller Sebastian, 2018. "Zur Zukunft der Europäischen Union aus ordnungspolitischer Perspektive," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 68(1), pages 3-34, March.
    4. Gawel, Erik, 2014. "Neuordnung der Professorenbesoldung in Sachsen," Working Papers 128, University of Leipzig, Faculty of Economics and Management Science.
    5. Bernhardt, Wolfgang, 2020. "Der (ost-)deutsche Witz ist tot - Der Volksmund schweigt. Warum? Zum 3. Oktober 2020," Working Papers 168, University of Leipzig, Faculty of Economics and Management Science.
    6. Papenfuß, Ulf & Steinhauer, Lars & Friedländer, Benjamin, 2015. "Beteiligungsberichterstattung der öffentlichen Hand im 13-Länder-Vergleich: Erfordernisse für mehr Transparenz über die Governance und Performance öffentlicher Unternehmen," Working Papers 135, University of Leipzig, Faculty of Economics and Management Science.
    7. Andreas Schäfer & Thomas Steger, 2014. "Journey into the Unknown? Economic Consequences of Factor Market Integration under Increasing Returns to Scale," Review of International Economics, Wiley Blackwell, vol. 22(4), pages 783-807, September.
    8. Quaas, Friedrun, 2014. "Orthodoxer Mainstream und Heterodoxe Alternativen: Eine Analyse der ökonomischen Wissenschaftslandschaft," Working Papers 129, University of Leipzig, Faculty of Economics and Management Science.
    9. Trela, Karl, 2014. "Klimaanpassung als wirtschaftspolitisches Handlungsfeld," Working Papers 131, University of Leipzig, Faculty of Economics and Management Science.
    10. Casajus, André, 2012. "Solidarity and fair taxation in TU games," Working Papers 111, University of Leipzig, Faculty of Economics and Management Science.
    11. Quaas, Friedrun & Quaas, Georg, 2016. "Effekte des Kapitalmarktzinses auf die Preis- und Produktivitätsentwicklung: Eine Analyse der deutschen Volkswirtschaft 1970-2014," Working Papers 144, University of Leipzig, Faculty of Economics and Management Science.
    12. Papenfuß, Ulf (Ed.) & Redlich, Matthias (Ed.) & Steinhauer, Lars (Ed.) & Friedländer, Benjamin (Ed.), 2015. "Forschend und engagiert lernen im Public Management: Befunde und Gestaltungsanregungen eines Service Learning Lehrforschungsprojektes (2. aktualisierte Auflage)," Working Papers 140, University of Leipzig, Faculty of Economics and Management Science.
    13. Quaas, Friedrun & Quaas, Georg, 2021. "COVID-19 und das europäische Impf-Desaster," Working Papers 170, University of Leipzig, Faculty of Economics and Management Science.
    14. Gunther Schnabl, 2015. "Japans Lehren für das Schweizer Wechselkursdilemma," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 95(3), pages 192-199, March.
    15. Papenfuß, Ulf & Schmidt, Christian, 2015. "Determinants of manager pay in German state-owned enterprises and international public policy implications: 3-year study for sectors, performance and gender," Working Papers 137, University of Leipzig, Faculty of Economics and Management Science.
    16. Casajus, André & Huettner, Frank, 2013. "Null players, solidarity, and the egalitarian Shapley values," Journal of Mathematical Economics, Elsevier, vol. 49(1), pages 58-61.
    17. Schnabl, Gunther, 2015. "Wege zu einer stabilitäts- und wachstumsorientierten Geldpolitik aus österreichischer Perspektive," Working Papers 139, University of Leipzig, Faculty of Economics and Management Science.
    18. Quaas, Friedrun & Quaas, Georg, 2015. "Hayeks Überinvestitionstheorie," Working Papers 141, University of Leipzig, Faculty of Economics and Management Science.
    19. Gawel, Erik & Aguado, Miquel, 2014. "Neuregelungen der W-Besoldung auf dem verfassungsrechtlichen Prüfstand," Working Papers 132, University of Leipzig, Faculty of Economics and Management Science.
    20. Quaas, Georg, 2012. "Ein Nelson-Winter-Modell der deutschen Volkswirtschaft," Working Papers 112, University of Leipzig, Faculty of Economics and Management Science.

    More about this item

    Keywords

    Insolvenz; Vorinsolvenzliches Verfahren; EU Direktive 2016/0359 (COD); Nullzinspolitik; Spekulation; Zombifizierung; Insolvencency; Preventive Restructuring Framework; EU Directive 20146/0359 (COD); Zero Interest Rate-Policy; Zombification;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:zbw:leiwps:154. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ZBW - Leibniz Information Centre for Economics (email available below). General contact details of provider: https://edirc.repec.org/data/vileide.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.