English, Article, Journal or magazine article edition: Petites et grandes entreprises face à la faillite au XIXème siècle en France : du droit à la pratique Pierre-Cyrille Hautcoeur; Nadine Levratto

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Bookmark: http://trove.nla.gov.au/version/44216
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Petites et grandes entreprises face à la faillite au XIXème siècle en France : du droit à la pratique
Author
  • Pierre-Cyrille Hautcoeur
  • Nadine Levratto
Physical Description
  • preprint
Notes
  • Cet article étudie l'application de la législation sur les faillites en France au XIXème siècle. Il utilise deux sources : la statistique annuelle des faillites mise en place à partir de 1840 par le Ministère de la Justice et les dossiers individuels de faillite conservées par les archives du Tribunal de commerce de Paris. Il montre que l'évolution de la législation ne peut pas suffire à expliquer les comportements en matière de faillite, qui reflètent aussi des transformations économiques. Surtout, il démontre à partir de l'exemple parisien que les tribunaux ne traitent pas toujours à l'identique toutes les entreprises, accordant un traitement de faveur aux plus grandes d'entre elles. Ce travail donne ainsi de nouveaux arguments contre une vision légaliste et rétrospective de l'impact de la législation des faillites sur l'activité économique, et en faveur d'une étude empirique de son application concrète. ###[english abstract: This paper studies the implementation of bankruptcy law in 19th century France. It uses two sources: first, the annual exhaustive statistical appraisal of bankruptcies published from 1840 on; second, individual bankruptcy files conserved at the Paris Merchant Court archives. We show that the changes in bankruptcy law cannot explain the changes in the number and size of bankruptcies, suggesting changes in the practice of the courts as well as in the behaviour of firms. Most importantly, the Parisian example suggests that the courts didn't treat all firms on the same basis, privileging the important ones. This gives new arguments against a purely legalistic and retrospective vision of the impact of bankruptcy law on economic activity, and in favour of an empirical study of its concrete implementation.]###
  • RePEc:pse:psecon:2007-30
  • Economic literature studies bankruptcy as a homogenous phenomenon. Insolvency concerns all kind of firms and judgements are made without any reference to the firm’s size. We consider this assumption does not hold and we try to consider the alternative one, i.e. judges take into account the judicial form and the size. We test it over the 19th century whereas the bankruptcy law evolves towards its modern design. This period also present another great advantage: the limited liabilities companies are created in the second part of the 19th century and, at the same time legislator authorizes the free creation of public societies. It is thus appropriate to see whether judges applied the law indifferently or if they considered differently individual merchants and companies. The first part of the paper describes bankruptcy law and its changes over the period; the second section shows the global changes in the courts activity using national data. The data specially collected in the archives of commercial court of Paris allow us to introduce the legal status and the firms’ size as discriminating factors.
  • bankruptcy law, commercial courts, law and economics, firms default
  • RePEc:drm:wpaper:2008-7
Language
  • English
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