Financial Distress and Insolvency Timing

Frederik Drescher
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Frederik Drescher: TU München

Chapter 3 in Insolvency Timing and Managerial Decision-Making, 2014, pp 23-52 from Springer

Abstract: 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.

Keywords: Financial Distress; Insolvency Proceeding; Insolvency Regulation; Liquidity Crisis; Asset Utilization (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-02819-0_3

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DOI: 10.1007/978-3-658-02819-0_3

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