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Article Dans Une Revue Small Business Economics Année : 2020

Bankruptcy Delay and Firms’ dynamics

Alessandro Melcarne
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Giovanni Battista Ramello
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Résumé

The present paper explores the link between bankruptcy law and firms' dynamics, focusing on Italy as a case study. Relying on a previous literature dealing with the concept of entrepreneurship "friendly" bankruptcy law, we stress the idea that bankruptcy institutions, although connected to a painful event for firms, might still yield beneficial consequences on a societal level. In particular, we find evidence that quicker judicial resolutions of liquidation bankruptcies have an impact on firms' entry and exit rates in Italy, by reducing the indirect costs that a bankrupt firm must undergo and allowing a quicker reallocation of assets towards more efficient destinations. Such effect is related with firms' organizational structure and size.
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Dates et versions

hal-01823515 , version 1 (26-06-2018)

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Citer

Alessandro Melcarne, Giovanni Battista Ramello. Bankruptcy Delay and Firms’ dynamics. Small Business Economics, 2020, 54 (2), pp.405-419. ⟨10.1007/s11187-018-0041-5⟩. ⟨hal-01823515⟩
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