Corporate Insolvency Law in India

Consequent Increase

The 2008 financial crisis was followed by a global economic downturn, a credit crunch, and a reduction in cross-border lending, trade finance, and foreign direct investment, which adversely affected businesses around the world. The consequent increase in the number of firm insolvencies in the corporate sector highlights the need for commercial bankruptcy laws to liquidate efficiently unviable firms and reorganize viable ones, so as to maximize the total value of proceeds received by creditors, shareholders, employees, and other stakeholders. India's weak insolvency regime, its significant inefficiencies, and systematic abuse are some of the reasons for the distressed state of credit markets in India today. The Code promises to bring about far-reaching reforms with a thrust on creditor driven insolvency resolution. It aims at early identification of financial failure and maximizing the asset value of insolvent firms. The Code also has provisions to address cross-border insolvency through bilateral agreements and reciprocal arrangements with other countries.

Bankruptcy law challenges the United Arab Emirates

Emerald Expert Briefings ◽

10.1108/oxan-db217823 ◽

2017 ◽

Keyword(s):

United Arab Emirates ◽

Financial Institutions ◽

Foreign Investment ◽

Direct Investment ◽

Arab Countries ◽

Bankruptcy Law ◽

2008 Financial Crisis ◽

Content Type ◽

Oil Sector ◽

Subject Legislation on insolvency in the United Arab Emirates. Significance The long-awaited federal bankruptcy law came into effect on December 29, three months after its publication. The 2008 financial crisis highlighted the need to adopt comprehensive insolvency legislation, after many debtors fled the country to avoid penal consequences -- including time in prison -- when their businesses crashed. However, despite low oil prices it was not until 2016 that steps to formalise the bankruptcy law were expedited, with the aim of promoting foreign investment and business development. Impacts Foreign direct investment in the non-oil sector will increase. Some financial institutions could be slow to take account of the new legislation. Other Gulf Arab countries may look to the UAE bankruptcy law as a model.

ANALYZING THE TFP PERFORMANCE OF CHINESE INDUSTRIAL ENTERPRISES

The Singapore Economic Review ◽

10.1142/s0217590816500077 ◽

2018 ◽

Vol 63 (05) ◽

pp. 1263-1284

Author(s):

KUI-WAI LI

Keyword(s):

Regression Analysis ◽

Direct Investment ◽

Industrial Output ◽

Factor Productivity ◽

Domestic Consumption ◽

2008 Financial Crisis ◽

Industrial Enterprises ◽

Product Acceptability ◽

The Impact

After nearly four decades of rapid growth, the China economy is faced with various challenges. The 2008 crisis would have served as the last straw as China experienced falls and volatilities in industrial output, export and foreign direct investment. The new policy focuses on expansion of domestic consumption and rebalancing. Given the unreliability of Chinese products, there is a need to rebuild product acceptability and market confidence. The structure of industrial enterprises, especially the small- and medium-sized enterprises, will play a crucial role in the next phase of development in the China economy. This paper uses the data on Chinese industrial enterprises to estimate the productivity performance of enterprises across regions and industries. The discussion is placed on the impact of the 2008 financial crisis on the China economy and industries enterprises. By using a simple methodology and OLS regression analysis on the estimation of total factor productivity, the empirical results show that SMEs and non-SMEs do perform differently in different industries and across regions, but SMEs suffered more than non-SMEs since the 2008 crisis.

International Political Economy, Global Financial Orders and the 2008 Financial Crisis

Perspectives on Politics ◽

10.1017/s1537592712003660 ◽

2013 ◽

Vol 11 (1) ◽

pp. 155-166 ◽

Cited By ~ 25

Author(s):

Daniel W. Drezner ◽

Kathleen R. McNamara

Keyword(s):

Political Economy ◽

Financial Crisis ◽

Global Economy ◽

International Political Economy ◽

Economic Downturn ◽

Global Finance ◽

2008 Financial Crisis ◽

The Great Depression ◽

Social Logics

The 2008 financial crisis triggered the most severe global economic downturn since the Great Depression. The crisis has provoked soul-searching among economists, yet international political economy (IPE) scholars have been relatively sanguine. We argue that IPE has strayed too far away from studying the geopolitical and systemic causes and consequences of the global economy. IPE must explain the generation and transformation ofglobal financial orders.Both the distribution of political power and the content of economic ideas will shape any emergent global financial order. A Kuhnianlife-cycle frameworkof global financial orders permits a systemic approach to global finance that integrates the study of power and social logics into our understanding of markets.

Regulatory Arbitrage in Cross-Border Crowdfunding

The Oxford Handbook of IPOs ◽

10.1093/oxfordhb/9780190614577.013.36 ◽

2018 ◽

pp. 745-772

Author(s):

Arjya B. Majumdar

Keyword(s):

Small Businesses ◽

Disruptive Innovation ◽

Critical Aspect ◽

Regulatory Arbitrage ◽

2008 Financial Crisis ◽

Cross Border ◽

Equity Crowdfunding ◽

The World ◽

Low Threshold ◽

In the aftermath of the 2008 financial crisis, small businesses found it increasingly difficult to raise funds. As a response, equity crowdfunding has emerged as a viable alternative for sourcing capital to support innovative, entrepreneurial ideas and ventures. A number of securities regulators across the world have dealt with, or are in the process of dealing with, equity crowdfunding as a disruptive innovation to established processes of corporate fundraising. However, most equity crowdfunding regulations do not take into account one critical aspect of crowdfunding—that of cross-border crowdfunding. Using a comparative analysis of a number of jurisdictions around the world in their treatment of equity crowdfunding, this chapter argues that in jurisdictions where crowdfunding activities are unregulated or have a low threshold of regulations, the opportunities arising from the resultant regulatory arbitrage could then be used by fund-seeking companies based in jurisdictions where crowdfunding is prohibited or highly regulated.

Deglobalization: The Rise of Disembedded Unilateralism

Annual Review of Financial Economics ◽

10.1146/annurev-financial-110217-022625 ◽

2018 ◽

Vol 10 (1) ◽

pp. 219-237 ◽

Cited By ~ 7

Author(s):

Harold James

Keyword(s):

Financial Regulation ◽

The Political ◽

Economic Data ◽

Economic Nationalism ◽

2008 Financial Crisis ◽

Financial Flows ◽

Cross Border ◽

European Banking ◽

Modern Economic ◽

There is some evidence of deglobalization in the aftermath of the 2008 financial crisis. The economic data are mixed and indicate a stall, but not a collapse, of globalization. Cross-border financial flows have been reduced, but the overall outcome mostly reflects changes in European banking. Trade is not growing as quickly as before the crisis, but that may be the consequence of technology shortening supply chains. There are more protectionist measures, but they have not radically cut trade. But political deglobalization has advanced much further, and consequently, there is the prospect of more intense conflicts over trade and financial regulation in the future, as well as one of an increasing backlash against migration. Globalization depends on a complex system of regulating cross-border flows and on embedding domestic rules in an international order. The political momentum is directed against the existing methods or regulation and against the complex rules that had been established to manage globalization. The promise given by populist myth builders is that eliminating international entanglements can make life simpler, less regulated, and above all, less subject to the dictates of an administrative class. Modern economic nationalism or unilateralism can be understood as a reversal of the process of embedding and may thus be termed “disembedded unilateralism.”

Do Crises Hit Female-Managed and Male-Managed Firms Differently? Evidence from the 2008 Financial Crisis

10.1596/34458 ◽

2020 ◽

Author(s):

Tanima Ahmed ◽

Silvia Muzi ◽

Kohei Ueda

Keyword(s):

Financial Crisis ◽

2008 Financial Crisis ◽

Mathematics without Apologies

10.23943/princeton/9780691175836.001.0001 ◽

2017 ◽

Cited By ~ 2

Author(s):

Michael Harris

Keyword(s):

Number Theory ◽

Financial Crisis ◽

Pop Culture ◽

First Century ◽

2008 Financial Crisis ◽

Dinner Party ◽

Mathematical Life ◽

Personal Experiences ◽

Guided Tour

What do pure mathematicians do, and why do they do it? Looking beyond the conventional answers, this book offers an eclectic panorama of the lives and values and hopes and fears of mathematicians in the twenty-first century, assembling material from a startlingly diverse assortment of scholarly, journalistic, and pop culture sources. Drawing on the author's personal experiences as well as the thoughts and opinions of mathematicians from Archimedes and Omar Khayyám to such contemporary giants as Alexander Grothendieck and Robert Langlands, the book reveals the charisma and romance of mathematics as well as its darker side. In this portrait of mathematics as a community united around a set of common intellectual, ethical, and existential challenges, the book touches on a wide variety of questions, such as: Are mathematicians to blame for the 2008 financial crisis? How can we talk about the ideas we were born too soon to understand? And how should you react if you are asked to explain number theory at a dinner party? The book takes readers on an unapologetic guided tour of the mathematical life, from the philosophy and sociology of mathematics to its reflections in film and popular music, with detours through the mathematical and mystical traditions of Russia, India, medieval Islam, the Bronx, and beyond.