The efficiency of the Italian preventive agreement: a legal, economic and organizational perspective Angelo Paletta and Genc Alimehmeti Primary Author mixed material bibliography ENGLAND EMERALD INSIGHT 2022 monographic id INDONESIA

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BAIK Abstract Purpose – This paper aims to analyze the ex ante and ex post economic efficiency of the preventive agreement (concordato preventivo) or composition with creditors as defined by the Italian Bankruptcy Law. This study examines four possible outcomes of the procedure: homologation (confirmation); the degree of dissent/consent of creditors; the revocation, admissibility or inadmissibility; the declaration of the company bankruptcy in preventive agreement. Design/methodology/approach – This paper uses data from 728 Italian companies which filed for preventive agreement in 2016. In reference to each of the four possible outcomes, this study applies nine logit regressions to analyze the effects of a series of efficiency variables ex ante (corporate-based drivers) and ex post (procedure-based drivers). Findings – Results show the relevance of the debt structure, ownership structure and virtuous behavior, corporate governance and management systems, as well as effectivity of the court control on the preventive agreement outcome. Originality/value – This paper draws on original data of bankruptcy in Italy and gives empirical evidence of the ex ante and ex post factors on the outcomes of the preventive agreement. Ex post efficiency, Insolvency, Bankruptcy proceed Bankruptcy, Preventive agreement, Ex ante efficien NONE Repository Universitas Langlangbuana Sistem Repository Elektronik Skripsi, Tesis, Desertasi dan Penelitian Dosen Universitas Langlangbuana JA101.IJLMA22V64.1.7 My Library The efficiency of the Italian preventive agreement: a legal, economic and organizational perspective COVER_International_Journal_of_Law_and_Management.png.png 2620 2023-12-21 14:03:46 2023-12-21 14:05:33 machine generated