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Legal reform and aggregate small and micro business bankruptcy rates: evidence from the 1997 Belgian bankruptcy code

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  • Nico Dewaelheyns
  • Cynthia Hulle

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  • Nico Dewaelheyns & Cynthia Hulle, 2008. "Legal reform and aggregate small and micro business bankruptcy rates: evidence from the 1997 Belgian bankruptcy code," Small Business Economics, Springer, vol. 31(4), pages 409-424, December.
    • Handle: RePEc:kap:sbusec:v:31:y:2008:i:4:p:409-424
    DOI: 10.1007/s11187-007-9060-3
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    Cited by:

    1. Nicolae Stef, 2017. "Bankruptcy and the difficulty of firing," EconomiX Working Papers 2017-26, University of Paris Nanterre, EconomiX.
    2. Harada, Nobuyuki & Kageyama, Noriyuki, 2011. "Bankruptcy dynamics in Japan," Japan and the World Economy, Elsevier, vol. 23(2), pages 119-128, March.
    3. Susana Escaloni & Mercedes Mareque, 2021. "Audit Report Lag. Differential Analysis between Spanish SMEs and Non-SMEs," Sustainability, MDPI, vol. 13(22), pages 1-21, November.
    4. Laura Serra & Claudio Detotto & Pablo Juan & Marco Vannini, 2022. "Intersectoral and spatial spill-overs of firms’ bankruptcy in Spain," Letters in Spatial and Resource Sciences, Springer, vol. 15(2), pages 197-211, August.
    5. Gopalakrishnan, Balagopal & Mohapatra, Sanket, 2020. "Insolvency regimes and firms' default risk under economic uncertainty and shocks," Economic Modelling, Elsevier, vol. 91(C), pages 180-197.
    6. Campa, Domenico & Camacho-Miñano, María-del-Mar, 2015. "The impact of SME’s pre-bankruptcy financial distress on earnings management tools," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 222-234.
    7. Sofie Balcaen & Sophie Manigart & Jozefien Buyze & Hubert Ooghe, 2012. "Firm exit after distress: differentiating between bankruptcy, voluntary liquidation and M&A," Small Business Economics, Springer, vol. 39(4), pages 949-975, November.
    8. Mac an Bhaird, Ciarán & Vidal, Javier Sanchez & Lucey, Brian, 2016. "Discouraged borrowers: Evidence for Eurozone SMEs," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 44(C), pages 46-55.
    9. Fejér-Király Gergely, 2015. "Bankruptcy Prediction: A Survey on Evolution, Critiques, and Solutions," Acta Universitatis Sapientiae, Economics and Business, Sciendo, vol. 3(1), pages 93-108, December.
    10. Régis Blazy & Nirjhar Nigam, 2019. "Corporate insolvency procedures in England: the uneasy case for liquidations," European Journal of Law and Economics, Springer, vol. 47(1), pages 89-123, February.
    11. N. Dewaelheyns & C. van Hulle, 2007. "Aggregate Bankruptcy Rates and the Macroeconomic Environment. Forecasting Systematic Probabilities of Default," Review of Business and Economic Literature, KU Leuven, Faculty of Economics and Business (FEB), Review of Business and Economic Literature, vol. 0(4), pages 541-566.
    12. Venancio Tauringana & Ishmael Tingbani & Godwin Okafor & Widin B. Sha'ven, 2021. "Terrorism and global business performance," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(4), pages 5636-5658, October.
    13. Kun Fu & Karl Wennberg & Björn Falkenhall, 2020. "Productive entrepreneurship and the effectiveness of insolvency legislation: a cross-country study," Small Business Economics, Springer, vol. 54(2), pages 383-404, February.
    14. Nicolae Stef, 2017. "Bankruptcy and the difficulty of firing," Working Papers hal-04141644, HAL.
    15. Régis Blazy & Bertrand Chopard & Agnès Fimayer & Jean-Daniel Guigou, 2007. "Financial versus Social Efficiency of Corporate Bankruptcy Law: the French Dilemma?," LSF Research Working Paper Series 07-02, Luxembourg School of Finance, University of Luxembourg.
    16. Manel Frifita & Zouhaier Hadhek, 2020. "This article contributes to the related literature on business failure by investigating the relationship between terrorism and business failure in the MENAP (Middle East, North Africa, Afghanistan and," International Journal of Humanities, Arts and Social Sciences, Dr. Mohammad Hamad Al-khresheh, vol. 6(4), pages 142-150.
    17. Henryk Gurgul & Paweł Zając, 2014. "The impact of alterations in the local insolvency legislation on business bankruptcy rates in Poland," Statistics in Transition new series, Główny Urząd Statystyczny (Polska), vol. 15(3), pages 453-466, June.
    18. Nico Dewaelheyns & Cynthia Van Hulle, 2010. "Bankruptcy reform: evidence from a survey among judges and receivers," Applied Economics Letters, Taylor & Francis Journals, vol. 17(14), pages 1367-1371.
    19. Dewaelheyns, Nico & Van Hulle, Cynthia, 2009. "Filtering speed in a Continental European reorganization procedure," International Review of Law and Economics, Elsevier, vol. 29(4), pages 375-387, December.
    20. Tingbani, Ishmael & Okafor, Godwin & Tauringana, Venancio & Zalata, Alaa Mansour, 2019. "Terrorism and country-level global business failure," Journal of Business Research, Elsevier, vol. 98(C), pages 430-440.
    21. Fedorova, Elena & Ledyaeva, Svetlana & Drogovoz, Pavel & Nevredinov, Alexandr, 2022. "Economic policy uncertainty and bankruptcy filings," International Review of Financial Analysis, Elsevier, vol. 82(C).
    22. Stef, Nicolae, 2018. "Bankruptcy and the difficulty of firing," International Review of Law and Economics, Elsevier, vol. 54(C), pages 85-94.
    23. Gemechu Aga & David Francis, 2017. "As the market churns: productivity and firm exit in developing countries," Small Business Economics, Springer, vol. 49(2), pages 379-403, August.
    24. Maren Forier & Nadine Lybaert & Maarten Corten & Niels Appermont & Tensie Steijvers, 2023. "The flip side of the coin: how entrepreneurship-oriented insolvency laws can complicate access to debt financing for growth firms," European Journal of Law and Economics, Springer, vol. 56(3), pages 461-495, December.

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    More about this item

    Keywords

    Bankruptcy reform; Aggregate bankruptcy rates; G33; E32; K22; L26;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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