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Economic Analysis of Judicial Conciliation in Brazilian Financial Institutions

Author

Listed:
  • Anna Cláudia De Vasconcelos
  • Mathias Schneid Tessmann
  • Humberto Nunes Alencar

Abstract

The present work aims to analyze the economic efficiency of judicial conciliation in defaulted credit contracts, through a case study of a major Brazilian financial institution, between the years 2014 and 2019. From the perspective of the economic analysis of law, this study analyzes the efficiency of conciliation in collective settlement events organized by the Federal Court, using three methods of assessment: maximization of gains and minimization of costs, Pareto efficiency, and the Kaldor-Hicks criterion. The results indicate that conciliation, when successful, demonstrates economic efficiency; however, as a public policy, it does not achieve indices compatible with the advantages stemming from its adoption. These findings contribute to the scientific literature that studies alternative dispute-resolution methods by providing empirical evidence for financial institutions and policymakers in the sector. Â JEL classification numbers: K10, K12, K15, K41.

Suggested Citation

  • Anna Cláudia De Vasconcelos & Mathias Schneid Tessmann & Humberto Nunes Alencar, 2024. "Economic Analysis of Judicial Conciliation in Brazilian Financial Institutions," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 14(4), pages 1-6.
    • Handle: RePEc:spt:apfiba:v:14:y:2024:i:4:f:14_4_6
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    References listed on IDEAS

    as
    1. Thomas J. Stipanowich, 2004. "ADR and the “Vanishing Trial”: The Growth and Impact of “Alternative Dispute Resolution”," Journal of Empirical Legal Studies, John Wiley & Sons, vol. 1(3), pages 843-912, November.
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      Keywords

      Economic Analysis of Law; Pareto’s efficiency; Kaldor-Hicks criterion; Judicial Conciliation; Economic Efficiency.;
      All these keywords.

      JEL classification:

      • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)
      • K12 - Law and Economics - - Basic Areas of Law - - - Contract Law
      • K15 - Law and Economics - - Basic Areas of Law - - - Civil Law; Common Law
      • K41 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Litigation Process

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