Firm Closures

• Defining Types of Firm Closure
• Effects of Insolvency Law Reform
• Structural Transformation and Firm Closures
• Corporate Succession
• Macroeconomic Effects of Firm Turbulence

Research in this area focuses primarily on the empirical analysis of various forms of market exit, ranging from voluntary closures and takeovers to insolvencies. Particular attention is devoted to the regulation of insolvency and restructuring law, which has seen significant reforms in recent years. In addition, researchers are examining the role of banks in the restructuring of firms experiencing financial difficulties, and the effects of various aspects of insolvency law reform. Last but not least, researchers in this area analyse the determinants and effects of takeovers and mergers.