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Resolution of financial distress : an international perspective on the design of bankruptcy laws /

Annotation

Detalles Bibliográficos
Clasificación:Libro Electrónico
Otros Autores: Claessens, Stijn, Djankov, Simeon, Mody, Ashoka
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington, D.C. : World Bank, ©2001.
Colección:WBI development studies.
Temas:
Acceso en línea:Texto completo

MARC

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245 0 0 |a Resolution of financial distress :  |b an international perspective on the design of bankruptcy laws /  |c edited by Stijn Claessens, Simeon Djankov, and Ashoka Mody. 
260 |a Washington, D.C. :  |b World Bank,  |c ©2001. 
300 |a 1 online resource (xxxii, 390 pages) :  |b illustrations 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
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490 1 |a WBI development studies 
504 |a Includes bibliographical references and index. 
588 0 |a Print version record. 
520 8 |a Annotation  |b This book focuses on the principles of and practical approaches to addressing the public policy trade-off involved in systemic corporate and financial sector crises and the lessons learned from the changes taking place in bankruptcy frameworks around the world. It includes research on recent public policy initiatives for distress resolution or market-based restructuring. 
505 8 |a : Contents -- Foreword vii -- Contributors ix -- Resolution of Financial Distress: An Overview xv -- Stijn Claessens, Simeon Djankov, and Ashoka Mody, The World Bank -- Insolvency Regimes: Current Interest and Principles xvii -- Systemic Distress and Corporate Restructuring xxii -- Conclusions xxx -- References xxxi -- 1. Bankruptcy Laws: Basic Economic Principles -- Joseph E. Stiglitz, Stanford University -- Key Principles 2 -- Efficiency and Incentive Issues 7 -- Seller Beware 13 -- Implications for Policy 13 -- The Theory of Systemic Bankruptcy 16 -- Conclusion 21 -- References 22 -- 2. Bankruptcy Procedures in Countries Undergoing -- Financial Crises 25 -- Michelle J. White, University of Michigan -- Economrnic Issues in Corporate Bankruptcy 25 -- Bankruptcy and Entrepreneurial Activity 39 -- Conclusion 43 -- References 43 -- iii 3. Systemic Corporate Distress: A Legal Perspective 47 -- Jay Lawrence Westbrook, The University of Texas at Austin -- The Reform Movement 48 -- Elements of Reform 50 -- Special Rules for Systemic Distress 58 -- Cross-Disdciplinary Research 60 -- References 63 -- 4. Creditor Protection and Bankruptcy Law Reform 65 -- Rafael La Porta and Florencio Lopez-de-Silanes, Harvard University -- Content of Bankruptcy Laws around the World 66 -- Enforcement of Laws around the World 72 -- Consequences of Creditor Protection in Finandcial Markets 76 -- Real Consequences of Creditor Protection 78 -- Reforming Bankruptcy Procedures 80 -- Conclusion 85 -- Appendix 4A. Definitions of Variables 86 -- References 88 -- 5. Corporate Debt Restructuring: Auctions Speak Louder -- Than Words 91 -- Donald B. Hausch, University of Wisconsin, and S. Ramachandran, World Bank -- Market-Based Bankruptcy 94 -- The Proposed ACCORD 95 -- Implementing ACCORD 97 -- Additional Considerations 102 -- Conclusion 105 -- References 105 -- 6. Alphatec Electronics PCL 107 -- Perry Fagan, C. Fritz Foley, and Stuart Gilson, Harvard Business School -- History of Alphatec Electronics and The Alphatec Group 109 -- Alphatec in Distress 113 -- The First Restructuring Plan 128 -- The New Thai Bankruptcy Law 134 -- The Rehabilitation Plan 136 -- Postscript 145 -- 7. Corporate Debt Restructuring in a Systemic Financial Crisis Mexico's Experience, 1996-98 149 -- Alberto Mults, Fondo Bancario de Protecci6n al Ahorro -- Corporate Debt Restructuring, 1995-97 151 -- FOBAPROA's Role as a Restructuring Agent through its -- Corporate Asset Recovery Unit 160 -- Key Lessons from Mexico's 1996-98 Restructuring -- Experience 164 -- 8. Reconstruction Finance Corporation Assistance to Financial -- Intermediaries and Commercial and Industrial Enterprises -- in the United States, 1932-37 167 -- Joseph R. Mason, Drexel University, LeBow College of Business -- RFC Background: Politics, Funding, and Operations 168 -- RFC Assistance to Financial Institutions and Commercial and -- Industrial Enterprises 172 -- Summary and Condclusions 201 -- References 202 -- 9. Japan Confronts Corporate Restructuring 205 -- Arthur J. Alexander, Japan Economic Institute -- The Case for Restructuring 206 -- Managing Financial Distress 211 -- Conclusions 226 -- References 227 -- 10. Financial Restructuring in East Asia: Halfway There? 229 -- Stijn Claessens, Simeon Djankov, and Daniela Ktingebiel, World Bank -- Was the East Asian Crisis Unique? 229 -- East Asian Crisis: Similar Origins to Previous Crises, -- but Difference in Scale 230 -- Steep Decline and Rapid Recovery 230 -- Corporate Restructuring Is Gathering Speed 243 -- The Risk of an Unsustainable Recovery 251 -- References 258 -- 4 -- 11. The Politics of Corporate and Financial Restructuring A Comparison of Korea, Thailand, and Indonesia 261 -- Stephan Haggard, University of California, San Diego -- Financial and Corporate Restructuring: Political Issues -- and Empirical Patterns 263 -- Financial and Corporate Restructuring: Political -- Deterrminants 268 -- Korea 271 -- Thailand 282 -- Indonesia 292 -- Conclusion 301 -- References 302 -- 12. The Role of Cross-Border Mergers and Acquisitions in -- Asian Restructuring 305 -- Ashoka Mody and Shoko Negishi, World Bank -- Cross-Border M & A: Trends, Motives, and Impacts 306 -- East Asian Financial Distress and Recovery 314 -- Cross-Border M & As in East Asian Restructuring 321 -- Policy Implications 331 -- Conclusion 335 -- References 337 -- 13. Asset Management Companies 341 -- Daniela Klingebiel, World Bank -- The Centralized Versus the Decentralized Approach 342 -- The Different Types of Asset Management Companies 346 -- Evidence 349 -- Lessons from Cross-Country Experience 355 -- Appendix 13.A. Main Characteristics of Asset Management -- Companies 361 -- Bibliography and Reference List 372 -- Index 381. 
546 |a English. 
590 |a ProQuest Ebook Central  |b Ebook Central Academic Complete 
650 0 |a Bankruptcy. 
650 0 |a Debtor and creditor. 
650 6 |a Débiteur et créancier. 
650 7 |a Bankruptcy  |2 fast 
650 7 |a Debtor and creditor  |2 fast 
700 1 |a Claessens, Stijn. 
700 1 |a Djankov, Simeon. 
700 1 |a Mody, Ashoka. 
776 0 8 |i Print version:  |t Resolution of financial distress.  |d Washington, D.C. : World Bank, ©2001  |w (DLC) 00065484 
830 0 |a WBI development studies. 
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994 |a 92  |b IZTAP