 Reorganisation success in bankruptcy: the role of entrepreneur experience, characteristics and commitmentStefan Mayr, Christine Mitter, Christine Duller and Viktoria Mooshammer International Journal of Entrepreneurial Venturing, 2021, vol. 13, issue 5, 528-548 Abstract: We examine how entrepreneur experience, characteristics and commitment impact the success of a firm's reorganisation. We refer to the resource-based view and upper echelons theory as a theoretical basis. Empirical research is based on a sample of 158 bankrupt Austrian small- and medium-sized enterprises (SMEs). To test our model, we applied bivariate analyses and logistic regression. The personality of the entrepreneur, in particular strong dynamic-creative talents, as well as concentrated ownership and financial contributions as reflections of owners' commitment appear to be important drivers for overcoming a crisis successfully. While management and industry experience of the entrepreneur as well as education seem not to influence reorganisation success, having a reorganisation plan appears to be the most decisive factor. Our findings indicate that the entrepreneurial traits that are essential for company growth and the avoidance of failure do not impact the success of the firm's reorganisation. Keywords: reorganisation; entrepreneur characteristics; SMEs; small- and medium-sized enterprises; financial crisis; bankruptcy. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijeven:v:13:y:2021:i:5:p:528-548 Access Statistics for this article More articles in International Journal of Entrepreneurial Venturing from Inderscience Enterprises Ltd |
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