20.500.12556/RUL-176310 The impact of institutionalized representation creditors' committees and the resolution of corporate liquidation bankruptcies We utilize micro-level data on corporate liquidation bankruptcies in Slovenia to conduct the first systematic quantitative investigation of the impact of creditors' committees (CCs) on liquidation bankruptcy outcomes. Slovenian law permits, but does not mandate, the establishment of a CC in liquidation bankruptcy proceedings, ensuring variation in CC incidence across cases. To address the non-random formation of CCs, we use propensity score matching and employ a rich set of covariates. Our findings reveal that CCs boost the liquidation value of bankrupt debtors' assets, thereby facilitating recovery, particularly for priority and ordinary unsecured creditors. Additionally, CCs elevate the overall rate of creditors' recovery relative to the value of liquidated assets. However, CCs also prolong the duration of proceedings and increase the likelihood of litigation. Our analysis thus underscores the multifaceted nature of the effect of institutionalized creditor representation on the efficacy of liquidation bankruptcy proceedings. corporations bankruptcy company liquidation corporate bankruptcy liquidation bankruptcy proceedings creditors’ committees debt recovery duration Slovenia korporacije stečaj likvidacija podjetja true false true Angleški jezik Slovenski jezik Članek v reviji 2025-11-27 18:43:22 2025-11-27 18:47:35 2025-12-20 03:53:15 0000-00-00 00:00:00 2024 0 0 Str. 397-425 Vol. 58 2024 0000-00-00 Zaloznikova Objavljeno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 346 0929-1261 10.1007/s10657-024-09823-x 214569987 s10657-024-09823-x.pdf s10657-024-09823-x.pdf 1 92E440E83D8DC4462CD3AE780261D5F0 491f64b30f4d6cf72504ef8246fdd21ce839087c63afc5ca76ff4aa73af15f8d 91e44a79-cbb8-11f0-9328-0050569b8976 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=222614 https://link.springer.com/article/10.1007/s10657-024-09823-x 0 872d348d-cbb8-11f0-9328-0050569b8976 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=222613 Ekonomska fakulteta 0 0 0