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The impact of institutional and macroeconomic conditions on aggregate business bankruptcy ?

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  • Sami Ben Jabeur

    (UR CONFLUENCE : Sciences et Humanités (EA 1598) - UCLy - UCLy (Lyon Catholic University), ESDES - ESDES, Lyon Business School - UCLy - UCLy - UCLy (Lyon Catholic University))

  • Salma Mefteh-Wali
  • Carmona Pedro

Abstract

This paper investigates the aggregate business bankruptcy in relation to three macro-level factors: the government effectiveness, entrepreneurship activity and control of corruption for six European countries during the period from 2004 to 2017. We employ fuzzy-set qualitative comparative analysis (fsQCA) and partial least squares regression (PLS). Our findings show that countries with a high level of new firm creation and entrepreneurial activity can lead to a rise in the number of company failures. Furthermore, countries with a low corruption index and high levels of government effectiveness can mitigate insolvency. Our results have several policy implications for the evaluation and modification of the bankruptcy legal process.

Suggested Citation

  • Sami Ben Jabeur & Salma Mefteh-Wali & Carmona Pedro, 2021. "The impact of institutional and macroeconomic conditions on aggregate business bankruptcy ?," Post-Print hal-05238301, HAL.
    • Handle: RePEc:hal:journl:hal-05238301
    DOI: 10.1016/j.strueco.2021.08.010
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