Conclusions

Abstract

This concluding chapter offers our view on the restructuring challenges that firms will have to address in the near future. Extensive transformations of entire industries are inducing firms to evolve beyond their current scope and to scale up to meet fierce economic and competitive pressures—as well as regulatory pressures in the case of banks. Ultimately, firms should be able to transform their restructuring activities as tools to create value for both shareholders and bondholders. To this end, new theoretical approaches and empirical evidence are needed.