Bank Responses to Corporate Reorganization: Evidence from an Emerging Economy

Oreng, Mariana Aparecida Calabrez; Saito, Richard; Silva, Vinicius A. B.

doi:10.1590/1807-7692bar2019180053

Cited by 3 publications

(1 citation statement)

References 32 publications

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“…Brazil's judicial process was weak and needed reorganization for more effectiveness and transparency in the system (Leite et al 2018;Ribeiro Jr and Barbosa 2019). Oreng et al (2019), investigating how bank creditors responded to 125 corporate reorganization filings in SMEs from 2006 to 2016, demonstrated that the share of the bank's debt to its creditors was not significant and needed judicial process restructuring. While examining Russia's functions within the institution of bankruptcy's procedural and legal regulations, Ageeva and Lang (2019) found that the law enforcement practice of declaring debtors insolvent, identifying problems with procedural rules, and formulating proposals for their elimination was weak.…”

Section: Literature Review and Research Gapmentioning

confidence: 99%

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

Chawla¹,

Kumar²,

Patel

2022

Preprint

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This paper analyzes the factors responsible for the efficacy of resolving insolvency issues, influencing the ease of doing business (EoDB) ranking in the BRICS (Brazil-Russia-India-China-South Africa) nations' context, focusing on India. Besides, the study examines the legal framework and judicial decisions on insolvency resolution that boost stakeholders' confidence and improve the business environment. We applied descriptive statistics, the analytical hierarchy process (AHP), and the fuzzy analytical hierarchy process (F-AHP) to analyze and interpret the findings. The key results show that insolvency resolution has been one of the priorities of the governments of Brazil, Russia, and China for almost a decade. Resolving insolvency is the prime factor responsible for India's rank improvement, whereas it is not a priority for South Africa. The AHP calculations prove the Indian government's commitment to insolvency resolution, syncing with experts' opinions. Future EoDB studies concerning other nations may employ the AHP techniques, bringing new results.. The findings add value to the knowledge base on insolvency resolution, contributing to the EoDB ranking vis-a-vis the business environment and providing a broader implication for further research.

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Section: Literature Review and Research Gapmentioning

confidence: 99%

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

Chawla¹,

Kumar²,

Patel

2022

Preprint

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Abuse of Vote by Prevalent Creditors in Reorganizing Bankruptcies: The Unintended Consequences of Judicial Activism

Neto

2020

SSRN Journal

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Foreign and Russian Studies of Share Buyback Practices: A View from the Corporate Governance Perspective

Ткаченко

Батаева

2020

Upravlencheskie nauki

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The paper discusses the mechanism of shares buyback and its implementation in foreign countries and in Russia. The publication purpose is to study the practice of buybacks in the aspect of corporate governance, satisfaction of stakeholders interests being in the new economic realities by the impact of sanctions and the COVID-19 pandemic. The authors use the method of content analysis of publications by Russian and foreign researchers based on Google Scholar since 1990 to 2020, considering buyback programs in relation to corporate governance and influence on stakeholders. Also, the authors analyze the state of the Russian stock market by capitalization, by the number of issuers of shares on the MICEX-RTS from 2013 to 2020. There are analyzed programs for repurchase of shares of Russian companies for the period 2018–2020. There have been put forward and tested three hypotheses related to the impact of sanctions and the coronavirus pandemic on the policy of implementing buyback deals by the companies. The “share buyback” is usually considered to a greater extent from the point of view of corporate finance in the Russian business field, outside the context of corporate governance and even more so outside of relations with stakeholders. There is a dominant approach to buybacks from the point of view of shareholders rather than from the point of view of stakeholders in Russian business practice. There is no discussion about the negative impact of buybacks on their interests in the public opinion and in the expert environment, due to the relative weakness of the positions of Russian stakeholders. The future research may focus on assessing the impact of share buyback programs on the risks system and benefits for financial and non-financial stakeholders. Also, there should be emphasized on studying the impact of share buybacks on the corporate governance quality and on studying their impact on top management remuneration, being assessed the effectiveness and efficiency of programs buybacks.

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Bank Responses to Corporate Reorganization: Evidence from an Emerging Economy

Cited by 3 publications

References 32 publications

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

Abuse of Vote by Prevalent Creditors in Reorganizing Bankruptcies: The Unintended Consequences of Judicial Activism

Foreign and Russian Studies of Share Buyback Practices: A View from the Corporate Governance Perspective

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