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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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| Paper Title: | NUDGE THEORY AND ITS BEHAVIOURAL IMPACT ON STAKEHOLDERS: A PERSPECTIVE UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 |
| Authors Name: | CA. Pradeep Kabra , Dr. MUKESH KUMAR SHARMA |
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IJRTI_206199
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| Published Paper Id: | IJRTI2509054 |
| Published In: | Volume 10 Issue 9, September-2025 |
| DOI: | |
| Abstract: | Abstract: In modern regulatory systems, the integration of behavioral economics into legal frameworks has gained prominence, especially in areas where financial decisions are influenced by human psychology. Traditional economic models assume that individuals act rationally in their self-interest; however, real-world behavior often deviates due to cognitive biases, heuristics, and framing effects. Nudge Theory, developed by Thaler and Sunstein, offers a way to influence such behavior subtly by structuring choices in a way that encourages better decision-making without restricting freedom. Legal mechanisms, particularly those dealing with financial distress and recovery, increasingly rely on these behavioral tools to align stakeholder actions with broader economic goals. This article examines the Insolvency and Bankruptcy Code, 2016 (IBC) through the perspective of Nudge Theory, highlighting how the Code reshapes the decision-making environment for stakeholders such as promoters, creditors, investors, and insolvency professionals. By embedding nudges like making resolution the default outcome, enforcing disclosure norms, simplifying legal procedures, and leveraging loss aversion, the IBC promotes timely resolution and responsible financial behavior. The article evaluates the behavioral impact of these provisions, outlines their successes in improving recovery rates and reducing NPAs, and discusses ongoing challenges that hinder optimal outcomes. Ultimately, the IBC serves as a compelling example of how behavioral economics can enhance the effectiveness of legal-economic reforms |
| Keywords: | NUDGE THEORY |
| Cite Article: | "NUDGE THEORY AND ITS BEHAVIOURAL IMPACT ON STAKEHOLDERS: A PERSPECTIVE UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.10, Issue 9, page no.a475-a480, September-2025, Available :http://www.ijrti.org/papers/IJRTI2509054.pdf |
| Downloads: | 0001666 |
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2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2509054
Registration ID:206199
Published In: Volume 10 Issue 9, September-2025
DOI (Digital Object Identifier):
Page No: a475-a480 Country: Surat, Gujarat, India Research Area: Management Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2509054 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2509054 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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