Insolvency Timing and Managerial Decision-Making

ISBN-13: 9783658028183 / Angielski / Miękka / 2013 / 191 str.

Frederik Drescher

Opis

​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.

Spis treści

InInsolvency Timing as an Agency Problem.- Financial Distress and Insolvency Timing.- Managerial Insolvency Timing Decision.- Experimental Testing of Interest Alignment Instruments.

O autorze

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.

Blurb

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.