|Publication type:||Article in scientific journal|
|Type of review:||Peer review (publication)|
|Title:||Ein neues Bankinsolvenzrecht für die Schweiz|
Birchler, Urs W.
|Published in:||Schweizerische Zeitschrift für Volkswirtschaft und Statistik|
|Publisher / Ed. Institution:||Springer|
|Subjects:||Bank restructuring; Corporate bankruptcy; Insolvency regulation; Systemic stability|
|Subject (DDC):||346: Private law (CH)|
|Abstract:||In Switzerland, new bank insolvency legislation is under consideration. The article compares the proposed regulation with the rules that would be optimal from an economic point of view. Optimal rules are a compromise between value maximization and absolute priority on the one hand (ex post optimality), and the avoidance of perverse incentives on the other (ex ante optimality). Existing Swiss rules are severely deficient in these respects. In contrast, the proposed revision is a reasonable approximation to an economic optimum in some respects, while it deviates from it in others.|
|Fulltext version:||Published version|
|License (according to publishing contract):||Licence according to publishing contract|
|Departement:||School of Management and Law|
|Appears in collections:||Publikationen School of Management and Law|
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