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Prof. Evžen Kočenda published an article in Journal of Comparative Economics

26/11/2021

Professor Evžen Kočenda from the Institute of Economic Studies and his colleagues, profesor Ichiro Iwasaki a Yoshisada Shida have published an article Distressed acquisitions: Evidence from European emerging markets in the latest issue of Journal of Comparative Economics. 

Journal of Comparative Economics is the best journal in the field of comparative economics and its mission is to lead the new orientations of research in the field. In recent years, a new orientation of comparative economics targets the research of the economic effects of various institutions and their importance in the process of economic development.

Abstract: 
We analyze factors behind 23,213 distressed acquisitions in European emerging markets from 2007 to 2019. Besides the impact of financial ratios, legal form, ownership structure, firm size, and age, we emphasize the role of institutions and channels of their propagation. We show that the quality and enforcement of insolvency laws are linked with the lower probability of distressed acquisitions, followed by corruption control and progress in banking reforms. The impact of institutions is larger in less-advanced countries as compared to economically stronger ones. The effect of institutions increased after the financial crisis but declined as the economic situation improved.

The complete article is available here.

Congratulations! 

 

 

 

Autor - Barbora Holková

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