Insolvency Timing and Managerial Decision-Making

  • Frederik Drescher

Table of contents

  1. Front Matter
    Pages I-XVII
  2. Frederik Drescher
    Pages 1-7
  3. Frederik Drescher
    Pages 9-22
  4. Frederik Drescher
    Pages 23-52
  5. Frederik Drescher
    Pages 53-92
  6. Frederik Drescher
    Pages 93-106
  7. Frederik Drescher
    Pages 147-150
  8. Back Matter
    Pages 151-191

About this book

Introduction

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.

Keywords

Experiment Financial Distress Insolvency Proceedings Interest Alignment Instruments Managerial Decision Making

Authors and affiliations

  • Frederik Drescher
    • 1
  1. 1.TU MünchenMünchenGermany

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-658-02819-0
  • Copyright Information Springer Fachmedien Wiesbaden 2014
  • Publisher Name Springer Gabler, Wiesbaden
  • eBook Packages Business and Economics
  • Print ISBN 978-3-658-02818-3
  • Online ISBN 978-3-658-02819-0
  • About this book