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1 GCOESOFTLAW
2 1 2 2 * keiko.yamamoto@boj.or.jp COE COE
3
4 a ADR Alternative Dispute Resolution Q&A
5 a a DES DDS
6 b Gertner and Sharfstein [1991] Berkovitch and Israel [1998]
7 2 A B A B 2 1A B A B A B 4.5 A B
8 22 A B 4 A B 1 A B A B A B
9 a See, Jackson [2001] p Jackson [2001] p
10 A B 2 1 A B 32 A B
11 A B A B Aoki [1988] Aoki & Patrick [1994] A B
12 A B 3 3 A B 5 4 A B 4 5 A B A B 35 9
13
14
15 A B 5 A B 3 2 B A A 2 A B B 100 % 0 <1/ (1- ) d 42 d = n >1 n 2 41 A B <1/7 42 threat point 12
16 B A A 4-7, 3+7 B d (3, 3) 4-7, 3 B A 43 2 A 1 A % B A =4-7 A B 43 B 13
17 B A A 2 A B A 2 7 B B A B A 3 A B B 3 3 A B
18
19 B A A B B 2 A B A B B A A B A
20
21
22 Jackson [2001] p
23 Q&A
24 ADR RCC RCC ADR ADR ADR
25 ADR DCF Debt Equity Swap 100%
26 DES 75 DES DES DES DES
27
28 DES
29 85 DES DES
30
31 R CDAMS 05/6J Secondary Rule HP WG
32 NBL ADR ADR ADR NBL a ADR b
33 Aoki, Masahiko, Information, Incentives, and Bargaining in the Japanese Economy, Cambridge University Press, 1988., & Hugh Patrick, THE JAPANESE MAIN BANK SYSTEM ITS RELEVANCE FOR DEVELOPING AND TRANSFORMING ECONOMIES, Oxford University Press, Berkovitch, Elazar, and Ronen Israel, The Bankruptcy Decision and Debt Contract Reorganizations, European Finance Review, 2(1), 1998, pp Gertner, Robert, and David Scharfstein, A Theory of Workouts and the Effects of Reorganization Law, Journal of Finance, 46, 1991, pp Jackson, Thomas H., THE LOGIC AND LIMITS OF BANKRUPTCY LAW, Beardbooks, 2001 (originally published: Harvard University Press, 1986). 30
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