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The CV effect: To what extent does the chance to reorganize depend on a bankruptcy judge’s profile?
International Review of Law and Economics ( IF 1.216 ) Pub Date : 2021-02-03 , DOI: 10.1016/j.irle.2021.105984
Régis Blazy , Stéphane Esquerré

This study explores the link between the individual profiles of French commercial judges and the bankruptcy cases they supervised between 2006 and 2012. A “Curriculum Vitae effect” prevails: the chance to reorganize after filing for bankruptcy varies with the composition of the chambers. We also confirm the existence of a limited (but not marginal) appointment bias, suggesting that bankruptcy cases are not fully randomized across judges. Several variables accounting for the judges’ profiles are found to be significant. The presence of female judges increases the chances of a successful plan (for continuation). We find a similar influence of the judges’ managerial skills and of the highest academic profiles. However, a mismatch between the judges’ profiles (mostly oriented toward big businesses) and bankrupt firms (closer to small and medium-sized enterprises) undermines the probability of reorganizing. We also focus on the two main filters for reorganization: i) the decision to open an observation period, and ii) the court supervision of such a period. Our findings provide normative recommendations to better align lay justice with litigants’ needs. The results from France can be extended to other mixed bankruptcy systems.



中文翻译:

简历的效果:重组的机会在多大程度上取决于破产法官的形象?

本研究探讨了法国商业法官的个人简介和他们2006年和2012年A“之间的监督破产案件之间的联系简历“效果”占上风:申请破产后进行重组的机会因商会的组成而异。我们还确认存在有限的(但不是边缘性的)任命偏见,这表明破产案件并未在法官之间完全随机化。人们发现,考虑到法官概况的几个变量很重要。女法官的在场增加了成功计划(继续执行)的机会。我们发现法官的管理技能和最高学术成就也受到类似的影响。但是,法官的个人资料(主要针对大企业)和破产的公司(更接近中小型企业)之间的不匹配破坏了重组的可能性。我们还专注于重组的两个主要过滤器:i)决定开放观察期的决定,以及ii)法院对这一观察期的监督。我们的调查结果提供了规范性建议,以更好地使非司法公正与诉讼人的需求保持一致。法国的结果可以扩展到其他混合破产制度。

更新日期:2021-03-18
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