The low usage of bankruptcy procedures: A cultural problem? Lessons from Spain

• Main Author: GURREA-MARTINEZ, Aurelio
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2020
• Subjects: Bankruptcy rates; Insolvency proceedings; Risk aversion; Culture; Institutions; Entrepreneurship; Access to finance; Economic growth; Bankruptcy Law; Commercial Law
• Online Access: https://ink.library.smu.edu.sg/sol_research/3251; https://ink.library.smu.edu.sg/context/sol_research/article/5216/viewcontent/The_Low_Usage_of_Bankruptcy_Procedures_A_Cultural_Problem_Lesso.pdf
• Institution: Singapore Management University

While filing for bankruptcy does not seem appealing for any debtor regardless of the jurisdiction, the reluctance to use the bankruptcy system varies across countries. This article explores the underlying reasons and economic effects of the low usage of bankruptcy procedures in Spain, where the rate...