Erschienen: 02.10.2013 Abbildung von Drescher | Insolvency Timing and Managerial Decision-Making | 2014 | 2013 | An Experimental Study of Align...


Insolvency Timing and Managerial Decision-Making

An Experimental Study of Alignment of Managerial Decision-Making on Insolvency Timing with Shareholder Interests in Germany

2014 2013. Buch. xvii, 191 S. 35 s/w-Abbildungen, Bibliographien. Softcover

Springer Gabler. ISBN 978-3-658-02818-3

Format (B x L): 14,8 x 21 cm

Gewicht: 285 g

In englischer Sprache


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. Using a decision model, the author develops the hypothesis of a tendency towards delayed insolvency filings and confirms it experimentally. Moreover, he analyzes different incentive instruments potentially leading to earlier insolvency filings.   Contents ·         Insolvency Timing as an Agency Problem ·         Financial Distress and Insolvency Timing ·         Managerial Insolvency Timing Decision ·         Experimental Testing of Interest Alignment Instruments       Target Groups ·         Researchers and students in the field of business economics with a focus on corporate restructuring and decision theory ·         Practitioners in corporate restructuring and insolvency professionals, managers and company owners     The Author Frederik Drescher holds a degree in Business Administration from WHU Otto Beisheim School of Management and wrote his doctoral thesis at Technische Universität München under the supervision of Prof. Dr. Gunther Friedl. He is a consultant with a special focus on corporate restructuring.


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