Optimal Corporate Bankruptcy System Design: From the Perspective of the Contingent Governance
Taking the traditional theory of corporate governance as a logical starting point, this paper builds and interprets the theoretical models of the corporate contingent governance, on the basis of the results of some scholars’ researches on the corporate contingent governance theories. Then under this theoretical framework, the optimal bankruptcy system under the conditions of the perfect market economy and the sub-optimal bankruptcy system under the conditions of imperfect market economy are conceptualized, built and designed.
KeywordsCorporate governance The contingent governance Corporate bankruptcy system Design
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