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JOURNAL OF ACCOUNTING AND FINANCE
Do Changes in Chapter 7 Asset Exemptions Fundamentally Alter Bankruptcy Outcomes?
New Evidence From the State of Oregon
Author(s): Donald D. Hackney, Daniel L. Friesner, Matthew Q. McPherson
Citation: Donald D. Hackney, Daniel L. Friesner, Matthew Q. McPherson, (2020) "Do Changes in Chapter 7 Asset Exemptions Fundamentally Alter Bankruptcy Outcomes? New Evidence From the State of Oregon," Journal of Accounting and Finance, Vol. 20, ss. 5, pp. 86-106
Article Type: Research paper
Publisher: North American Business Press
Abstract:
Hackney, Friesner, and McPherson (2018) developed a methodology to identify the optimal distribution of discharged debts in Chapter 7 bankruptcy filings. In 2013, Oregon adopted debtor-choice status. Applying the methodology to data from Oregon immediately before, during, and after, the conversion to debtor choice status should facilitate an accurate assessment of the impact of debtor-choice status on the distribution of debt disbursements. The results suggest that the optimal proportion of assets retained by households through exemptions is between 3-4% of all disbursements, and that the legislation did not noticeably impact convergence to this optimum proportion.
