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Springer Gabler - Management | Insolvency Timing and Managerial Decision-Making

Insolvency Timing and Managerial Decision-Making

Drescher, Frederik

2014, XVII, 191 p. 35 illus.

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  • ​Publication in the field of economic sciences

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.



·         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.

Content Level » Research

Keywords » Experiment - Financial Distress - Insolvency Proceedings - Interest Alignment Instruments - Managerial Decision Making

Related subjects » Management

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