Arbeitspapier
Insolvency regimes and cross-border investment decisions
This paper investigates the effect of reforms of insolvency regulations on cross-border debt and equity investments at a sectoral level. Using disaggregated data from the Securities Holdings Statistics by Sector (SHSS) and OECD-indicators on the efficiency of insolvency regulations, we find that investors prefer to invest more in countries with more efficient insolvency frameworks. The effect, however, differs across sectors, with households and institutional investors being particularly sensitive. In addition, share-holders are mostly responsive to prevention and streamlining tools, while debt-holders respond more to availability of restructuring tools. Finally, we show that countries with developed financial markets and effective government are the ones that see the largest debt and equity inflows after reforms of insolvency regulations.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 1862
- Klassifikation
-
Wirtschaft
International Investment; Long-term Capital Movements
International Financial Markets
Bankruptcy; Liquidation
- Thema
-
capital market integration
insolvency law
sectoral effects
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kliatskova, Tatsiana
Savatier, Loïc Baptiste
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Kliatskova, Tatsiana
- Savatier, Loïc Baptiste
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2020
Ähnliche Objekte (12)
Insolvency regimes and cross-border investment decisions
International arbitration and cross-border insolvency : comparative perspectives
Asymmetric taxation and cross-border investment decisions
Insolvency regimes and economic outcomes
Insolvency regimes and economic outcomes
Cross-Border Tax Evasion under a Unilateral FATCA Regime
Cross-border vocational training as processes of cross-border learning
Cross-border hybrid instruments
Cross-Border Loss Deductibility
Cross border insolvency : national and comparative studies ; reports
Cross-border trade in services
Cross-border credit derivatives linkages
Insolvency regimes and cross-border investment decisions
International arbitration and cross-border insolvency : comparative perspectives
Asymmetric taxation and cross-border investment decisions
Insolvency regimes and economic outcomes
Insolvency regimes and economic outcomes
Cross-Border Tax Evasion under a Unilateral FATCA Regime
Cross-border vocational training as processes of cross-border learning
Cross-border hybrid instruments
Cross-Border Loss Deductibility
Cross border insolvency : national and comparative studies ; reports
Cross-border trade in services
Cross-border credit derivatives linkages
Insolvency regimes and cross-border investment decisions
International arbitration and cross-border insolvency : comparative perspectives
Asymmetric taxation and cross-border investment decisions
Insolvency regimes and economic outcomes
Insolvency regimes and economic outcomes
Cross-Border Tax Evasion under a Unilateral FATCA Regime
Cross-border vocational training as processes of cross-border learning
Cross-border hybrid instruments
Cross-Border Loss Deductibility
Cross border insolvency : national and comparative studies ; reports
Cross-border trade in services