Title: BANKRUPTCY REFORM AND CONSUMER CHAPTER 11 FILING RATES: AN INTERRUPTED TIME-SERIES REGRESSION ANALYSIS
Abstract: ABSTRACT The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“Reform Act”) was designed to limit perceived abuses by individuals of the consumer-bankruptcy system by reducing the number of Chapter 7 filings through dismissal or conversion of abusive cases to Chapter 13. Beyond Chapters 7 and 13, the Reform Act impacted consumer Chapter 11 practice both directly and indirectly. The focus of this study is to examine what impact, if any, has the Reform Act had upon the consumer Chapter 11 filing rate? This question is examined through an interrupted time-series multiple regression analysis. Regression analyses were employed utilizing several independent variables to detect any relationship between Reform Act and their effect on the respective dependent variable. Four dependent variables were employed: per capita total consumer-bankruptcy filings, per capita total Chapter 11 bankruptcy filing rate, per capita consumer Chapter 11 bankruptcy filing rate and consumer Chapter 11 bankruptcy filings as a percentage of aggregate consumer-bankruptcy filing rates. The results indicated that the Reform Act, although impacting consumer filings, has not significantly impacted consumer Chapter 11 filings. Possible future research opportunities and potential policy implications are suggested. Keywords Business bankruptcy, bankruptcy reform, bankruptcy code, Chapter 11, consumer bankruptcy
Publication Year: 2015
Publication Date: 2015-10-01
Language: en
Type: article
Indexed In: ['crossref']
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