Do Reorganization Costs Matter for Efficiency? Evidence from a Bankruptcy Reform in Colombia
An efficient bankruptcy system should liquidate nonviable businesses and reorganize viable ones. The importance of this filtering process has long been recognized in the literature; the typical reason advanced for its failure has been biases (in codes or among judges). In this paper we show that ban...
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| Language: | EN |
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2012
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/5780 |