Sales forecast rationality and small business reorganisation

Mikko Hakola

International Journal of Management and Enterprise Development, 2011, vol. 11, issue 2/3/4, 85-108

Abstract: This research examines the rationality of the sales forecasts made by entrepreneurs and administrators of 23 small reorganisation companies during legal reorganisation processes in Finland in 2008-2009. The findings are consistent with previous research, where small company entrepreneurs were optimistic and overconfident. The most important results are that the administrators' sales forecasts tend to be as optimistic and overconfident as the entrepreneurs' sales forecasts. These findings may give new perspective for academics in legal reorganisation research where the reasons for failure of legal reorganisation have been investigated for a long period without clear findings.

Keywords: forecast rationality; optimism; overconfidence; enterprise development; business reorganisation; small companies; sales forecasting; entrepreneurship; Finland; small firms. (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmede:v:11:y:2011:i:2/3/4:p:85-108

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