Legal environment and corporate finance: evidence from the Italian manufacturing industry
Falavigna G, Ippoliti R (2021)
Journal of Economic Structures 10(1): 21.
Zeitschriftenaufsatz
| Veröffentlicht | Englisch
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Autor*in
Falavigna, Greta;
Ippoliti, RobertoUniBi
Einrichtung
Abstract / Bemerkung
**Abstract**
Considering the Italian manufacturing industry between 2014 and 2016 (more than 250,000 observations), this technical note analyzes the relation between the courts’ ability to enforce credit rights and the opportunity to finance business activities with trade credits instead of financial debts, delaying payments and decreasing the financial costs. According to our results, and considering mortgage foreclosure, if the time necessary to settle an insolvency case increases by 1000 days, we can expect an increase in operating debt between 3 and 11%, and a decrease of financial expenses between 3000 and 7000 Euro.
Considering the Italian manufacturing industry between 2014 and 2016 (more than 250,000 observations), this technical note analyzes the relation between the courts’ ability to enforce credit rights and the opportunity to finance business activities with trade credits instead of financial debts, delaying payments and decreasing the financial costs. According to our results, and considering mortgage foreclosure, if the time necessary to settle an insolvency case increases by 1000 days, we can expect an increase in operating debt between 3 and 11%, and a decrease of financial expenses between 3000 and 7000 Euro.
Erscheinungsjahr
2021
Zeitschriftentitel
Journal of Economic Structures
Band
10
Ausgabe
1
Art.-Nr.
21
Urheberrecht / Lizenzen
eISSN
2193-2409
Page URI
https://pub.uni-bielefeld.de/record/2958985
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Falavigna G, Ippoliti R. Legal environment and corporate finance: evidence from the Italian manufacturing industry. Journal of Economic Structures. 2021;10(1): 21.
Falavigna, G., & Ippoliti, R. (2021). Legal environment and corporate finance: evidence from the Italian manufacturing industry. Journal of Economic Structures, 10(1), 21. https://doi.org/10.1186/s40008-021-00252-6
Falavigna, Greta, and Ippoliti, Roberto. 2021. “Legal environment and corporate finance: evidence from the Italian manufacturing industry”. Journal of Economic Structures 10 (1): 21.
Falavigna, G., and Ippoliti, R. (2021). Legal environment and corporate finance: evidence from the Italian manufacturing industry. Journal of Economic Structures 10:21.
Falavigna, G., & Ippoliti, R., 2021. Legal environment and corporate finance: evidence from the Italian manufacturing industry. Journal of Economic Structures, 10(1): 21.
G. Falavigna and R. Ippoliti, “Legal environment and corporate finance: evidence from the Italian manufacturing industry”, Journal of Economic Structures, vol. 10, 2021, : 21.
Falavigna, G., Ippoliti, R.: Legal environment and corporate finance: evidence from the Italian manufacturing industry. Journal of Economic Structures. 10, : 21 (2021).
Falavigna, Greta, and Ippoliti, Roberto. “Legal environment and corporate finance: evidence from the Italian manufacturing industry”. Journal of Economic Structures 10.1 (2021): 21.
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