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Bankruptcy in 2000s: instrument of the raiders to the "double standard" policy

Author

Listed:
  • Apevalova, Elena

    (Governmential Academy of National Economy)

  • Radygin, Alexander

    (Governmential Academy of National Economy)

Abstract

The role of bankruptcy in a market economy and is well known in many aspects (both positive and negative) is described in the extensive literature. The threat of bankruptcy the corporation with erroneous policy managers in the markets (in the most hard version of the transfer of control to the creditors) standard is considered as an external corporate governance tool. The obvious anticipated result of the application of such a mechanism (regardless of the pros and cons of country-specific models - procreditor or prodolzhnikovyh) should be improvement of finances and improving the efficiency of the corporation, which has become the subject of appropriate procedures. In principle, all models banrotstva are in between the two extreme groups, focused on the debtor (USA, France) and the lender (UK, Germany).

Suggested Citation

  • Apevalova, Elena & Radygin, Alexander, 2009. "Bankruptcy in 2000s: instrument of the raiders to the "double standard" policy," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 4, pages 91-124, August.
    • Handle: RePEc:rnp:ecopol:09412
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