Drescher Insolvency Timing and Managerial Decision-Making

2014
ISBN: 978-3-658-02819-0
Verlag: Springer
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 191 Seiten, eBook

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.

Zielgruppe

Research

Autoren/Hrsg.

Drescher, Frederik

Inhaltsverzeichnis

InInsolvency Timing as an Agency Problem.- Financial Distress and Insolvency Timing.- Managerial Insolvency Timing Decision.- Experimental Testing of Interest Alignment Instruments.

Über Autor(innen)

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.