Debt enforcement around the world

Journal of Political Economy

Volumn 116, Issue 6, 2008, Pages 1105-1149

  Djankov, Simeon ^a   Hart, Oliver ^b   McLiesh, Caralee ^a   Shleifer, Andrei ^b  

^a WORLD BANK   (United States)

^b HARVARD UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

CAPITAL MARKET; DEBT; INCOME; MARKET DEVELOPMENT;

EID: 58749105480     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/595015     Document Type: Article

References (38)

1. Aghion, Philippe, Oliver Hart, and John Moore. 1992. "The Economics of Bankruptcy Reform." J. Law, Econ., and Organization 8 (October): 523-46.
2. Armour, John. 2007. "The Law and Economics Debate about Secured Lending: Lessons for European Lawmaking." Manuscript, Faculty of Law, Univ. Oxford.
3. Asquith, Paul, Robert Gertner, and David Scharfstein. 1994. "Anatomy of Financial. Distress: An Examination of Junk-Bond Issuers." Q.J.E. 1.09 (August): 625-58.
4. Ayotte, Kenneth, and Hayong Yun. 2009. "Matching Bankruptcy Laws to Legal Environments." J. Law, Econ., and Organization, forthcoming.
5. Baird, Douglas. 1986. "The Uneasy Case for Corporate Reorganizations." J. Legal Studies 15 (January): 127-47.
6. Baird, Douglas, and Robert Rasmussen. 2002. "The End of Bankruptcy." Stanford Law Rev. 55 (December): 751-89.
7. Bebchuk, Lucian. 1988. "A New Approach to Corporate Reorganizations." Harvard Law Rev. 101 (January) : 775-804.
8. Berglof, Erik, Gerard Roland, and Ernst-Ludwig von Thadden. 2007. "Optimal Debt Design and the Role of Bankruptcy." Manuscript, http://ssrn.com/abstract = 440501.
9. Bolton, Patrick, and David Scharfstein. 1996. "Optimal Debt Structure and the Number of Creditors." J.P.E. 104 (February): 1-25.
10. Bris, Arturo, Ivo Welch, and Ning Zhu. 2006. "The Costs of Bankruptcy: Ch. 7 Liquidation versus Ch. 11 Reorganization." J. Finance 61 (June): 1253-1303.
11. Chang, Tom, and Antoinette Schoar. 2007. "The Effect, of Judicial Bias in Chapter 11 Reorganization." Manuscript, Dept. Econ., Massachusetts Inst. Tech.
12. Claessens, Stijn, and Leora Klapper. 2005. "Bankruptcy around the World: Explanations of Its Relative Use." American Law and Econ. Rev. 7 (Spring): 253-83.
13. Davydenko, Sergei, and Julian Franks. 2008. "Do Bankruptcy Codes Matter? A Study of Defaults in France, Germany and the U.K." J. Finance 63 (April): 565-608.
14. Djankov, Simeon, Edward Glaeser, Rafael La Porta, Florencio Lopez-de-Silanes, and Andrei Shleifer. 2003. "The New Comparative Economics." J. Comparative Econ. 31 (December): 595-619.
15. Djankov, Simeon, Oliver Hart, Caralee McLiesh, and Andrei Shleifer. 2006. "Debt Enforcement around the World," Working Paper no. 12807 (December), NBER, Cambridge, MA.
16. Djankov, Simeon, Rafael. La Porta, Florencio Lopez-de-Silanes, and Andrei Shleifer. 2003. "Courts." Q.J.E. 118 (May): 453-517.
17. Djankov, Simeon, Caralee McLiesh, and Andrei Shleifer. 2007. "Private Credit in 129 Countries." J. Financial Econ. 84 (May): 299-329.
18. Franks, Julian, and Gyöngyi Lóránth. 2005. "A Study of Inefficient Going Concerns in Bankruptcy." Discussion Paper no. 5035 (May), Centre Econ. Policy Res., London, http://www.cepr.org/pubs/dps/ DP5035.asp.
19. Franks, Julian, and Oren Sussman. 2005. "Financial Distress and Bank Restructuring of Small and Medium Size UK Companies." Rev. Finance 9 (March): 65-96.
20. Franks, Julian, and Walter Torous. 1.989. "An Empirical. Investigation of U.S. Firms in Reorganization." J. Finance 44 (July): 747-69.
21. Gamboa-Cavazos, Mario, and Frank Schneider. 2006. "Bankruptcy as a Legal Process." Manuscript, Dept. Econ., Harvard Univ.
22. Gennaioli, Nicola, and Stefano Rossi. 2007. "Optimal Resolutions of Financial Distress by Contract." Manuscript, Stockholm School Econ.
23. Gertner, Robert, and David Scharfstein. 1991. "A Theory of Workouts and the Effects of Reorganization Law." J. Finance 46 (September): 1189-1222.
24. Gilson, Stuart, Kose John, and Larry Lang. 1990. "Troubled Debt Restructurings: An Empirical Study of Private Reorganization of Firms in Default." J. Financial Econ. 27 (October): 315-53.
25. Haselmann, Rainer, Katharina Pistor, and Vikrant Vig. 2005. "How Law Affects Lending." Working Paper no. 285 (October), Law and Econ. Dept., Columbia Univ.
26. Johnson, Simon, Rafael LaPorta, Florencio Lopez-de-Silanes, and Andrei Shlei-fer. 2000. "Tunneling." A.E.R, Papers and Proc. 90 (May): 22-27.
27. Lambert-Moglianski, Ariane, Konstantin. Sonin, and Ekaterina Zhuravskaya. 2007. "Are Russian Commercial Courts Biased? Evidence from a Bankruptcy Law Transplant." J. Comparative Econ. 35 (June): 254-77.
28. LaPorta, Rafael, Florencio Lopez-de-Silanes, Andrei. Shleifer, and Robert Vishny. 1997. "Legal Determinants of External Finance." J. Financent (July): 1131-50.
29. -. 1998. "Law and Finance." J.P.E. 106 (December): 1113-55.
30. LaPorta, Rafael, Florencio Lopez-de-Silanes, and Guillermo Zamarripa. 2003. "Related Lending." Q.J.E. 11.8 (February): 231-68.
31. Lerner, Josh, and Antoinette Schoar. 2005. "Does Legal Enforcement Affect Financial Transactions? The Contractual Channel in Private Equity." Q.J.E. 120 (February): 223-46.
32. Levine, Ross. 1999. "Law, Finance, and Economic Growth."J. Financial Intermediations (January): 36-67.
33. LoPucki, Lynn. 2003. "The Nature of the Bankrupt Finn: A Reply to Baird and Rasmussen's The End of Bankruptcy." Stanford Law Rev. 56 (December): 645-71.
34. Qian, Jun, and Philip Strahan. 2007. "How Laws and Institutions Shape Financial Contracts: The Case of Bank Loans." Finance 62 (December): 2803-34.
35. Stromberg, Per. 2000. "Conflicts of Interest and Market Illiquidity in Bankruptcy Auctions: Theory and Tests." J. Finance 55 (December): 2641-92.
36. Thorburn, Karin. 2000. "Bankruptcy Auctions: Costs, Debt Recovery, and Firm Survival." J. Financial Econ. 58 (December): 337-68.
37. Weiss, Lawrence, and Karen Wruck. 1998. "Information Problems, Conflicts of Interest and Asset Stripping: Chapter 11's Failure in the Case of Eastern Airlines." J. Financial Econ. 48 (April): 55-97.
38. White, Michelle. 1989. "The Corporate Bankruptcy Decision." J. Econ. Perspectives 3 (Spring): 129-51.