Insolvency Systems in Asia An Efficiency Perspective PDF Download
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Author: OECD
Publisher: OECD Publishing
ISBN: 926418953X
Category :
Languages : en
Pages : 428
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Book Description
This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
Author: OECD
Publisher: OECD Publishing
ISBN: 926418953X
Category :
Languages : en
Pages : 428
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Book Description
This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264038337
Category :
Languages : en
Pages : 284
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Book Description
A conference proceedings that provides a regional and country perspective on Asian insolvency reform, including individual Asian country reports, and reports on broader international trends and developements.
Author: OECD
Publisher: OECD Publishing
ISBN: 926418953X
Category :
Languages : en
Pages : 428
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Book Description
This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
Author:
Publisher: OECD
ISBN:
Category : Business & Economics
Languages : en
Pages : 438
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Book Description
This volume brings together a comparative report and studies of the insolvency systems of Indonesia, Korea, Malaysia, the Philippines, Singapore and Thailand.
Author: Roman Tomasic
Publisher: Routledge
ISBN: 1317115988
Category : Law
Languages : en
Pages : 702
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Book Description
Insolvency law reform has become a subject of public urgency in many countries in the past two decades and particularly in much of Asia over the last ten years. This volume provides an overview of insolvency laws and related rules and procedures in the countries of East Asia. The book comprises two introductory chapters dealing with issues such as legal culture and cross-border insolvency, before examining the fourteen principal jurisdictions in the region. Each chapter addresses the key themes of different insolvency regimes, such as: the legal system and culture; personal insolvency laws; corporate insolvency rules; court-based schemes of arrangement; winding-up procedures; liquidators; enforcement; and offences. This title will be an invaluable guide to academics, practitioners and policy makers working in the areas of comparative and commercial law.
Author: Organisation for Economic Co-operation and Development
Publisher:
ISBN:
Category : Bank failures
Languages : en
Pages : 426
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Book Description
Author: Stijn Claessens
Publisher: World Bank Publications
ISBN:
Category : Bank
Languages : en
Pages : 33
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Book Description
Abstract: June 1999 - Evidence from East Asia suggests that a firm's ownership relationship with a family or bank provides insurance against the likelihood of bankruptcy during bad times, possibly at the expense of minority shareholders. Bankruptcy is more likely in countries with strong creditor rights and a good judicial system - perhaps because creditors are more likely to force a firm to file for bankruptcy. The widespread financial crisis in East Asia caused large economic shocks, which varied by degree across the region. That crisis provides a unique opportunity for investigating the factors that determine the use of bankruptcy processes in a number of economies. Claessens, Djankov, and Klapper study the use of bankruptcy in Hong Kong, Indonesia, Japan, the Republic of Korea, Malaysia, the Philippines, Singapore, Taiwan (China), and Thailand. These economies differ in their institutional frameworks for resolving financial distress, partly because of the different origins of their judicial systems. One difference is the strength of creditor rights, which Claessens, Djankov, and Klapper document. They expect that differences in legal enforcement and judicial efficiency should affect the resolution of financial distress. Using a sample of 4,569 publicly traded East Asian firms, they observe a total of 106 bankruptcies in 1997 and 1998. They find that: · The likelihood of filing for bankruptcy is lower for firms with ownership links to banks and families, controlling for firm and country characteristics. Filings are more likely in countries with better judicial systems; Filings are more likely where there are both strong creditor rights and a good judicial system. These results alone do not allow Claessens, Djankov, and Klapper to address whether increased use of bankruptcy is an efficient resolution mechanism. This paper - a product of the Financial Economics Unit, Financial Sector Practice Department - is part of a larger effort in the department to study corporate financing and governance mechanisms in emerging markets.
Author: Yuka Kaneko
Publisher: Springer Nature
ISBN: 9811683026
Category : Law
Languages : en
Pages : 84
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Book Description
This book examines the outcomes of the economic law reforms in Asian developing countries, guided by the leading international development financiers such as the World Bank and the Asian Development Bank. Included is a particular focus on the recent “insolvency law” reforms in the Asian emerging economies, such as Vietnam, Laos, and Myanmar. Such legal reforms are the results of the “transplant” of the model law provided by these donor agencies, a law that was created in the post-Asian Currency Crisis in the 1990s. This book therefore examines the outcomes of three decades of donor-guided legal reforms. Appropriately, it applies not only the static approach to the legal texts but also an empirical methodology through interview surveys of the corporate and financial sectors. Following the introduction in Chapter I, Chapter II reviews the basic theories and presents the methodological framework. Chapter III then analyzes the contents of insolvency law reforms in the major target countries, namely, Vietnam, Laos, and Myanmar. Chapter IV provides a closer investigation into the design choices of Myanmar’s 2020 Insolvency Law as a typical example of the law reform involving the inter-donor conflict of law models between the Asian Development Bank and Japan’s official development assistance project. Lastly, Chapter V applies an empirical approach to the functioning of insolvency law, through international collaboration for interview surveys with small and medium-sized enterprises (SMEs) and their financiers.
Author:
Publisher:
ISBN: 9789264038325
Category : Bankruptcy
Languages : en
Pages : 280
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Book Description
Author: Terence C. Halliday
Publisher: Stanford University Press
ISBN: 0804776288
Category : Social Science
Languages : en
Pages : 537
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Book Description
The Asian Financial Crisis dramatically illustrated the vulnerability of financial markets in emerging, transitional, and advanced economies. In response, international organizations insisted that legal reforms could help protect markets from financial breakdowns. Sitting at the nexus between the legal system and the market, corporate bankruptcy law ensures that the casualties of capitalism are treated in an orderly way. Halliday and Carruthers show how global actors—including the IMF, World Bank, UN, and international professional associations—developed comprehensive norms for corporate bankruptcy laws and how national policymakers responded in turn. Drawing on extensive fieldwork in China, Indonesia and Korea, the authors reveal how national policymakers contested and negotiated domestic laws in the context of global pressures. The first study of its kind, this book offers a theory of legal change to explain why global/local tensions produce implementation gaps. Through its analysis of globalization, this book has lessons for international organizations and developing and transition economies the world over.
