Insolvency timing and managerial decision-making
Author(s)
Bibliographic Information
Insolvency timing and managerial decision-making
（Research）
Springer Gabler, c2014
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Note
Originally presented as the author's thesis (doctoral) -- Technische Universität München, 2013
Includes bibliographical references (p. [173]-191)
Description and Table of Contents
Description
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.
Table of Contents
InInsolvency Timing as an Agency Problem.- Financial Distress and Insolvency Timing.- Managerial Insolvency Timing Decision.- Experimental Testing of Interest Alignment Instruments.
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