Insolvency Timing and Managerial Decision-Making

✍ Scribed by Frederik Drescher (auth.)

Publisher: Gabler Verlag
Year: 2014
Tongue: English
Leaves: 205
Edition: 1
Category: Library

No coin nor oath required. For personal study only.

✦ Synopsis

Frederik Drescher addresses the timing of non-mandatory insolvency filings based on threatening illiquidity (§ 18 InsO) with the aim of a company's restructuring as an agency problem between owners and management. The hypothesis of a tendency towards delayed insolvency filings, which was developed using a decision model, is experimentally confirmed. Moreover, the author analyzes different incentive instruments potentially leading to earlier insolvency filings.

✦ Table of Contents

Front Matter....Pages I-XVII
Introduction....Pages 1-7
Insolvency Timing as an Agency Problem....Pages 9-22
Financial Distress and Insolvency Timing....Pages 23-52
Managerial Insolvency Timing Decision....Pages 53-92
Interest Alignment Instruments of Shareholders....Pages 93-106
Experimental Testing of Interest Alignment Instruments....Pages 107-146
Conclusion....Pages 147-150
Back Matter....Pages 151-191

✦ Subjects

Management/Business for Professionals

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