Chloé Zapha
About me
I am a researcher in the Microeconomic Analysis division at the Banque de France, previously a research fellow at France Stratégie. I hold a PhD in economics from the LEDa (Université PSL Dauphine, 2023), completed under a CIFRE contract with the Banque de France and supervised by Anne Epaulard.
My work sits at the intersection of applied microeconomics, corporate finance, banking, and law and economics. My dissertation examined bankruptcy law in France — covering preventive procedures, firm recovery after restructuring, and the efficiency of commercial courts in resolving financial distress.
Research interests: Banking, Corporate Finance, Financial Intermediation, Corporate Bankruptcy, Law and Economics
Working Papers
Publications
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Journal of Economic Behavior & Organization
Work in progress
- The Collection of Business Information at the Banque de France: History and User Guide of the FIBEN database with Frédéric Vinas
- The Effect of State-Guaranteed Loans on Firms’ Financial Performance and Their Access to Finance with Mathilde Lé
Other
Policy work
Court mergers have improved how bankruptcies are dealt with, with Anne Epaulard, Jan. 2026, Eco Notepad 428, Banque de France — also published on theOxford Business Law Blog , Feb. 2026State-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 up 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, Feb. 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"