Jules Banaken

Managing corporate defaults in the CEMAC zone Jules Banaken

Default of payment refers to a company that is not able to honor its payments to a third party on the due date of the invoice for goods delivered or services rendered. The literature on the phenomenon of non-payment by bank-financed firms is almost non-existent, to the benefit of an abundant literature on business failure, the latter being seen essentially from a legal perspective. Indeed, if for a long time researchers have ignored the phenomenon of corporate default, considering it as a fashion effect, and therefore marginal, to give pride of place to that of bankruptcy, the daily reality puts us back in front of the harmful consequences of corporate default on banks and other credit institutions: bank bankruptcy, massive layoffs, restructuring, financial interventions by the State in order to limit the systemic effects. This book aims to fill this gap. It addresses the subject by focusing on companies in the CEMAC zone.