Chloé Zapha

About me

As a research-economist at the Banque de France, I am in charge of analyzing insolvencies, state-guaranteed loan schemes, and the resilience of businesses in the face of natural disasters. Previously a research fellow at France Stratégie, I completed my doctoral thesis at the LEDa (Laboratoire d’Économie de Dauphine - Université PSL) in 2023 under the supervision of Anne Epaulard and a CIFRE contract at the Banque de France. My thesis offers an economic analysis of bankruptcy laws in France, focusing in particular on preventive procedures, the rebound of firms after restructuring and the efficiency of (small) commercial courts in deciding whether to save or liquidate distressed firms.

Research Interests

• Applied microeconomics in the fields of corporate finance, banking, climate risks
• Law and Economics, corporate bankruptcy

Publications

Working Papers

Work in progress

• The impact of floods on firms’ financial performance in France with Nicoletta Berardi, Elie Malhaire, Loriane Py and Jules Tapin

Other

Short articles

• State-guaranteed loans: how do firms choose to repay?, with Mathias Lé and Frédéric Vinas, Oct. 2024, Eco Notepad 369, Banque de France
• Out-of-court proceedings to help companies exit the crisis, with David Fouet, Dec. 2021, Eco Notepad 234, Banque de France
• Speed un restructuring proceedings in response to Covid-19? Dec. 2020, Eco Notepad 192, Banque de France
• Distressed firms: how effective are preventive procedures ? with Anne Epaulard Fev. 2020, English article, France Stratégie

Awards

• 2023, Recipient of the "Young Researcher Award" at the 8th Annual Conference of the French Association of Law and Economics (AFED 2023) for the paper titled "Corporate Bankruptcy and the (In-)Efficiency of Small Commercial Courts
• 2022, Co-recipient of the "Best Doctoral Paper Award" at the 38th Conference of the French Finance Association (AFFI 2022) for the paper titled "Access to Bank Credit after Emerging From Corporate Bankruptcy