In early 2005, the Brazilian Congress approved a new bankruptcy law. The new legislation increased creditor protection and improved the efficiency of the bankruptcy system. This paper evaluates the empirical consequences ...

This study investigates the relationship between debtor punishment and the development of the credit market. We empirically analyze how the level of debtor punishment relates to the credit market expansion. We find evidence ...

This paper studies the Bankruptcy Law in Latin America, focusing on the Brazilian reform. We start with a review of the international literature and its evolution on this subject. Next, we examine the economic incentives ...

In early 2005 a new bankruptcy law was approved by the Brazilian Congress, taking effect a few months later. The new legislation improved creditor protection and the bankruptcy system’s efficiency. This paper tries to shed ...

This paper investigates how the bankruptcy exemptions applied by the Personal Bankruptcy Law in each American state a§ect the aggregated level of individuals and small businessesí loans. Higher levels of bankruptcy exemptions ...

This paper examines the relationship between corporate governance level and the bankruptcy law for such debt variables as firms' cost of debt and amount (and variation) of debt. Our empirical results are consistent with ...

The paper proposes a reflection on the rule of equality of the creditors in order to verify what is myth or reality about it in the context of the current bankruptcy law. For this purpose, he undertakes a study of the ...