<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The aim of this paper is to fill the cognitive gap regarding the role of sanctions in the protection of a creditor’s property rights in the event of an entrepreneur insolvency. The impact of sanctions on transaction costs, including their identification and types, as well as the impact on the protection of creditor rights, has been poorly recognized in the subject literature to date. This article investigates the theory of transaction costs and property rights by providing an identification and description of formal negative sanctions, as well as their impact on counteracting the appropriation of creditors’ rights in bankruptcy proceedings. These studies are part of the discussion on the role of formalized negative sanctions, in terms of enforcing behaviours expected by the legislator.</p></abstract>

The aim of this paper is to fill the cognitive gap regarding the role of sanctions in the protection of a creditor’s property rights in the event of an entrepreneur insolvency. The impact of sanctions on transaction costs, including their identification and types, as well as the impact on the protection of creditor rights, has been poorly recognized in the subject literature to date. This article investigates the theory of transaction costs and property rights by providing an identification and description of formal negative sanctions, as well as their impact on counteracting the appropriation of creditors’ rights in bankruptcy proceedings. These studies are part of the discussion on the role of formalized negative sanctions, in terms of enforcing behaviours expected by the legislator.

Sanctions and their role in preventing the appropriation of the creditor’s property rights in bankruptcy proceedings–the case of Poland

Poznań University of Economics and Business

Department of Macroeconomics and Development Studies

Economics and Business Review

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The aim of this paper is to fill the cognitive gap regarding the role of sanctions in the protection of a creditor’s property rights in the event of an...

Sanctions and their role in preventing the appropriation of the creditor’s property rights in bankruptcy proceedings–the case of Poland

Published Online: Apr 07, 2019

Page range: 93 - 113

Received: Aug 22, 2018

Accepted: Dec 15, 2018

DOI: https://doi.org/10.18559/ebr.2019.1.6

Keywords
sanctions, bankruptcy law, transaction costs, property rights theory

© 2019 Sylwia Morawska et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Sanctions and their role in preventing the appropriation of the creditor’s property rights in bankruptcy proceedings–the case of Poland

Published Online: Apr 07, 2019

Page range: 93 - 113

Received: Aug 22, 2018

Accepted: Dec 15, 2018

DOI: https://doi.org/10.18559/ebr.2019.1.6

Keywordssanctions, bankruptcy law, transaction costs, property rights theory

© 2019 Sylwia Morawska et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
sanctions, bankruptcy law, transaction costs, property rights theory