The effects of the 2005 Bankruptcy Reform in Brazil
This paper studies the effect of the 2005 Bankruptcy Reform in Brazil. Using firm-level data we found that the increase in the level of creditors' protection reduced the cost of debt and increased the amount borrowed by the firms.
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- Simeon Djankov & Oliver Hart & Caralee McLiesh & Andrei Shleifer, 2006.
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