Renégociation stratégique de la dette, risque comptable et risque juridique
[Strategic Bankruptcy with accountable and judicial risks]
This paper studies the influence of bankruptcy law (depending on whether the law is pro-lenders or pro-borrowers) on the borrowers propensity to demand the renegotiation of their debt, when there exist an asymmetrical information between lenders and borrowers. In the tradition of Law & Economics, we proceed to a study of impact for the main parameters of the model that capture the design of bankruptcy law, showing their influence on the probability of strategic bankruptcy and on the social welfare.
|Date of creation:||09 Jul 2007|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Andrea Ichino & Michele Polo & Enrico Rettore, "undated".
"Are Judges Biased by Labor Market Conditions?,"
192, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Povel, Paul, 1999.
"Optimal "Soft" or "Tough" Bankruptcy Procedures,"
98-31, Sonderforschungsbreich 504.
- Bolton, Patrick & Scharfstein, David S, 1996. "Optimal Debt Structure and the Number of Creditors," Journal of Political Economy, University of Chicago Press, vol. 104(1), pages 1-25, February.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:4805. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.