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Parameters of insolvency proceedings in developed countries and their dependence on economic performance

This study deals with the potential relationship between costs and yields of insolvency proceedings for creditors and the performance of an observed economy, which is measured by the GDP per head of population. The authors verified the hypothesis that the costs and yields in insolvency proceedings should be dependent on the extent of development of a given country, and that the extent of economic development can be measured precisely by product per head. This hypothesis can be tested by using mathematical models, whilst several further findings of lesser significance were obtained.

Santorini-2014-Paper
[-- santorini-2014-paper.pdf --]