This thesis aims at delivering a documentation as complete as possible of bankruptcy events of formerly listed French companies over the time period from 1990 to 2009. The generated dataset is analyzed in detail with regard to changes in the French insolvency framework over a twenty-year timeframe.
Inhaltsverzeichnis (Table of Contents)
- 1. Introduction
- 2. Bankruptcy Regulation - Aims and Characteristics
- 2.1 An Introduction to Western Bankruptcy Regimes
- 2.2 Bankruptcy Regulation in France
- 2.2.1 An Overview - The Post 1985 Situation
- 2.2.2 Early Reforms
- 2.2.3 The Reforms of 2006 and 2009
- 2.2.4 Review and Criticism
- 2.3 Comparing French and US Insolvency Regimes
- 3. Hypotheses
- 3.1 Hypothesis 1: The ratio of successfully organized companies rose in the course of the bankruptcy reforms.
- 3.2 Hypothesis 2: Equity returns of insolvency-struck companies are comparably lower previous to insolvency.
- 3.3 Hypothesis 3: Profitability of successfully reorganized companies is comparably higher than that of liquidated firms.
- 4. Data
- 4.1 The Initial Data Collection Process
- 4.2 Presentation and Interpretation of Data - Computation of Descriptive Statistics
- 4.2.1 Preliminary Assessment of the Quality of Gathered Data
- 4.2.2 Historical Development of the Occurrence of Bankruptcy Events
- 4.2.3 Successful Reorganization vs. Liquidation
- 4.2.4 Equity Returns
- 4.2.5 Firm Profitability
- 5. Summary and Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This study aims to analyze insolvency regulation in France, specifically examining the impact of reforms on company reorganization success, equity returns, and profitability. The research uses empirical data to test several hypotheses regarding the effectiveness of the regulatory changes.
- Impact of French bankruptcy reforms on business outcomes.
- Comparison of French and US insolvency regimes.
- Analysis of equity returns of insolvent companies.
- Examination of the profitability of reorganized versus liquidated firms.
- Historical development of bankruptcies in France.
Zusammenfassung der Kapitel (Chapter Summaries)
Chapter 1 introduces the topic of insolvency regulation in France. Chapter 2 provides background on bankruptcy regimes in the West, focusing specifically on French regulation, including an overview of post-1985 developments, early reforms, and the 2006 and 2009 reforms. A comparison of French and US insolvency regimes is also presented. Chapter 3 outlines the hypotheses to be tested. Chapter 4 details the data collection process and presents descriptive statistics on bankruptcy occurrences, reorganization success rates, equity returns, and firm profitability.
Schlüsselwörter (Keywords)
French insolvency regulation, bankruptcy reforms, company reorganization, equity returns, firm profitability, comparative analysis, US bankruptcy regime, empirical data analysis.
- Quote paper
- MSc Thomas Hoehl (Author), 2009, Insolvencies and Insolvency Regulation in France, Munich, GRIN Verlag, https://www.grin.com/document/181582
