Insolvency Timing and Managerial Decision-Making
Description
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.
Keywords
Business & EconomicsManagement
2013Book
Author(s)Frederik Drescher
PublisherSpringer Fachmedien Wiesbaden
ISBN9783658028183
LanguageEnglish
