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Abstract
The literature review indicates that bankruptcy law may play an important role in and be one of the factors infuencing the development of entrepreneurship, innovation, and thus economic growth, among other things. In previous studies, the analysis of the impact of bankruptcy law on individual variables has been conducted independently. Our aim was to conduct a holistic analysis, taking several factors into account simultaneously. Therefore, a descriptive model was proposed, based on which the following research hypothesis was formulated: In countries characterised by an efective legal system and at the same time debtor-friendly bankruptcy law, the level of risk acceptance among entrepreneurs is higher, which is refected in higher levels of entrepreneurship and innovation. Based on the selected variables, a cross-sectional analysis was conducted using linear models estimated on the basis of the least-squares method. Additionally, to strengthen the conclusions drawn, the models were assessed in such a way enabling the analysis of causality as defned by Granger based on the two-step process. The results obtained allowed us to confrm the research hypothesis: in countries characterised by an efcient legal system and at the same time debtor-friendly bankruptcy law, the level of risk acceptance among entrepreneurs is higher, which is refected in higher levels of entrepreneurship and innovation. The research results are particularly important from the point of view of legislators who are responsible for drafting amendments to bankruptcy law. Including certain debtor-friendly provisions may, in the long run, lead to increased entrepreneurship and innovation, and thus economic development.
Citations
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7
CrossRef
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0
Web of Science
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5
Scopus
Authors (4)
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Sylwia Morawska dr hab.
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Michał Łukowski Dr
Cite as
Full text
- Publication version
- Accepted or Published Version
- DOI:
- Digital Object Identifier (open in new tab) 10.1007/s11365-021-00773-3
- License
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Details
- Category:
- Articles
- Type:
- artykuły w czasopismach
- Published in:
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International Entrepreneurship and Management Journal
no. 18,
pages 473 - 498,
ISSN: 1554-7191 - Language:
- English
- Publication year:
- 2022
- Bibliographic description:
- Prusak B., Morawska S., Banasik P., Łukowski M.: The impact of bankruptcy regimes on entrepreneurship and innovation. Is there any relationship?// International Entrepreneurship and Management Journal -Vol. 18, (2022), s.473-498
- DOI:
- Digital Object Identifier (open in new tab) 10.1007/s11365-021-00773-3
- Sources of funding:
-
- COST_FREE
- Verified by:
- Gdańsk University of Technology
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