Publication detail

Czech Bankruptcy Procedures: Ex-post Efficiency View

Author(s): PhDr. Ondřej Vychodil , M.A., Ondřej Knot
Type: IES Working Papers
Year: 2006
Number: 3
ISSN / ISBN:
Published in: IES WP 2006/3
Publishing place: Prague
Keywords: bankruptcy, liquidation, ex-post efficiency
JEL codes: G33, K39
Suggested Citation: Knot, O. and O.Vychodil (2006). “Czech Bankruptcy Procedures: Ex-Post Efficiency View” IES Working Paper 3/2006, IES FSV. Charles University.
Abstract: The paper presents facts on the ex-post efficiency of the Czech bankruptcy procedures. First, it briefly summarizes in what aspects bankruptcy systems differ across countries and introduces the main observations made about the Czech case so far. Second, international data are presented to assess the Czech standings in four aspects of bankruptcies' ex-post efficiency – duration, recovery rate, administrative costs, and continuation/ liquidation decision. Third, the paper provides a summary of statistical observations on ex-post efficiency based on data on 903 Czech companies whose bankruptcies were completed during 2004 by the distribution of returns to the claim-holders. In the paper, understanding the ex-post efficiency is meant as an important prerequisite for an analysis from the ex-ante efficiency prospective.
Downloadable: WP 2006_3 Vychodil
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