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Severity of the Voting Rules in Bankruptcy

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  • Nicolae STEF

    () (LaRGE Research Center, Université de Strasbourg)

Abstract

This article evaluates the voting conditions in bankruptcy using a sample of 92 countries. In general, the bankruptcy laws of German and French legal origin have the less stringent voting rules. The Nordic group of countries is in the middle. The most severe rules are encountered in the common law countries. In addition, the voting rules are not only important for the decision process, but also for the achievement of the ex post efficiency i.e. saving only the financial distressed firms which are economically efficient.

Suggested Citation

  • Nicolae STEF, 2013. "Severity of the Voting Rules in Bankruptcy," Working Papers of LaRGE Research Center 2013-07, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
  • Handle: RePEc:lar:wpaper:2013-07
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    References listed on IDEAS

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