Record Detail Back
International Journal of Law and Management: The efficiency of the Italian preventive agreement: a legal, economic and organizational perspective
- Share to:
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.
Angelo Paletta and Genc Alimehmeti - Personal Name
NONE
Text
INDONESIA
EMERALD INSIGHT
2022
ENGLAND
JURNAL ILMU HUKUM
LOADING LIST...
LOADING LIST...
APA Citation
Angelo Paletta and Genc Alimehmeti. (2022).International Journal of Law and Management:
The efficiency of the Italian
preventive agreement: a legal,
economic and organizational
perspective.(Electronic Thesis or Dissertation). Retrieved from https://localhost/etd