Insolvency Timing and Managerial Decision-Making

​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.

Publication Year: 2014
Imprint: Springer Fachmedien Wiesbaden
Format: P
Weight (Gram): 2803