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Do Polish Legal Perquisites To Declare Bankruptcy Correspond With Economic Ones?

In: ENTERPRISES IN UNSTABLE ECONOMY

Author

Listed:
  • Krzysztof Tapek

    (Jagiellonian University, Faculty of Law and Administration, Poland)

Abstract

In Polish legal practice it is often raised that legal perquisites to declare bankruptcy, contained in Polish Law on Bankruptcy and Reorganisation do not correspond with the conditions formulated by the economists. In the article the author will present current statutory premises to declare bankruptcy as well as the premises proposed by governmental board of experts as amendment to the regulation in force. The legal perquisites will be compared with the economic models of bankruptcy anticipation as well as with the legal models observed in other countries. In the summary the author will determine whether the present and proposed regulation correspond is some way with the economic rules of bankruptcy.

Suggested Citation

  • Krzysztof Tapek, 2015. "Do Polish Legal Perquisites To Declare Bankruptcy Correspond With Economic Ones?," GUT FME Conference Publications, in: Blazej Prusak (ed.),ENTERPRISES IN UNSTABLE ECONOMY, chapter 15, pages 197-210, Faculty of Management and Economics, Gdansk University of Technology.
    • Handle: RePEc:gdk:chapte:16
    as

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    File URL: ftp://ftp.zie.pg.gda.pl/RePEc/gdk/chapte/ENTIME2015_CH_15.pdf
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    References listed on IDEAS

    as
    1. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    2. Viral V. Acharya & Krishnamurthy V. Subramanian, 2009. "Bankruptcy Codes and Innovation," The Review of Financial Studies, Society for Financial Studies, vol. 22(12), pages 4949-4988, December.
    3. Berkovitch, Elazar & Israel, Ronen, 1999. "Optimal Bankruptcy Laws across Different Economic Systems," The Review of Financial Studies, Society for Financial Studies, vol. 12(2), pages 347-377.
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    More about this item

    Keywords

    legal requirements to declare bankruptcy; economic requirements to declare bankruptcy;

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law

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