Abstract
A comprehensive exploration of financial distress requires its classification within the larger context of corporate crisis. According to Krystek (1987), a corporate crisis is an unplanned as well as unintended process of limited duration and controllability which can lead to ambivalent outcomes. It presents a substantial and sustained threat to the company's status as a going-concern or even renders it impossible. This is due to adverse effects on dominant goals of the company, whose threatening or non-achievement put the company's existence as an independent entity in the market with its original goals at risk.
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© 2014 Springer Fachmedien Wiesbaden
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Drescher, F. (2014). Financial Distress and Insolvency Timing. In: Insolvency Timing and Managerial Decision-Making. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-02819-0_3
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DOI: https://doi.org/10.1007/978-3-658-02819-0_3
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Publisher Name: Springer Gabler, Wiesbaden
Print ISBN: 978-3-658-02818-3
Online ISBN: 978-3-658-02819-0
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