The Functioning of Bankruptcy Law and Practices in European Perspective (ca.1880–1913)

Bibliographic Data

ID12681609
AuthorsPierre-Cyrille Hautcœur (0000-0002-7094-3026, Paris School of Economics, corresponding author), Paolo Di Martino (0000-0002-9030-9014)
Year2013
Volume14
Issue3
Pages579-605
Publication date2013-07-18
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueEnterprise & Society (JOURNAL)
Journal identifiersISSN: 1467-2227 • E-ISSN: 1467-2235
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1093/es/kht037
OpenAlexW2005166528
LanguageEN
Citations received7
References cited33

A growing body of research in economics and in business and economic history has shown the key role of bankruptcy and insolvency law on business organization, firms’ governance, and entrepreneurial choices. Most research, however, has focused on the formal aspects of laws, and still little is known on how various systems worked in practices. This paper fills this gap in the literature analyzing the functioning of bankruptcy procedures in four main European economies (Italy, France, England, and Germany) between ca.1880 and 1914. Using an original data set and descriptive statistics on length, organization, and return of procedures, the paper shows how the aim of attracting debtors was more successful in the less regulated English system, but how the protection of creditors’ rights was more efficiently pursued in France and Germany. Italy appears as the absolute worst performer

Bankruptcy · Business · Corporate governance · Creditor · Debt · Economics · Insolvency · Perspective (graphical · Political science · Banking stability, regulation, efficiency · Corporate Finance and Governance · Corporate Insolvency and Governance · Law · Accounting · Finance