Corporate distress and turnaround: integrating the literature and directing future research

Schweizer, Lars; Nienhaus, Andreas

doi:10.1007/s40685-016-0041-8

Cited by 63 publications

(76 citation statements)

References 289 publications

(436 reference statements)

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“…Our case-based approach enabled us to link the data both to content and process aspects provided by the extant literature on strategic renewal and governance (e.g. Bammens et al 2011;Cater and Schwab 2008;Canterino et al 2013;Grinyer et al 1988;Greiner et al 2003;Huff et al 1992;Pfeffer and Salancik 1978;Schoenberg et al 2013;Stopford and Baden-Fuller 1990;Schweizer and Nienhaus 2017). When doing this, we identified several topics that related to the distinctive role, tasks and behaviours of the non-family board members and the owners.…”

Section: Discussionmentioning

confidence: 99%

The advisory role of non-family board members: a case-based study of a family firm

2019

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The objective of this case-based study is to provide insights into the advisory role of non-family board members in a family firm attempting strategic renewal. By studying the non-family board members of a family firm in a Nordic country, we suggest that non-family board members' advisory role evolves in a dynamic way. We show at the micro-level how the role, content, intensity, and locus of advice change and how it can be both inertia-and stress-inducing. This facilitates the renewal and hence a firm's capacity to improve its alignment with changing external demands. We highlight the collaborative nature of the advisory role and the importance of the non-family member chair in ensuring effective board processes. Through our research we contribute to the understanding on the contextual nature of the board roles and tasks and on family firm renewals. We provide insights into how the family firm owners and the chair of the board can enhance the prospects that the non-family board members create value through their advisory role.

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Section: Discussionmentioning

confidence: 99%

The advisory role of non-family board members: a case-based study of a family firm

2019

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“…The available empirical literature on the determinants and consequences of financial distress is voluminous and has been published in journals spanning across a number of disciplines. We adapt Schweizer and Nienhaus's (), Brauer's () and Haleblian et al . 's () approaches to selecting papers for review by identifying, reviewing, and classifying relevant works.…”

Section: Introductionmentioning

confidence: 99%

Determinants and consequences of financial distress: review of the empirical literature

Habib

Costa

Huang

et al. 2018

Accounting & Finance

137

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We synthesise the empirical literature on the determinants and consequences of financial distress, critique the findings and offer suggestions for future research. We categorise these indicators into (i) firm-level fundamental determinants, (ii) macroeconomic determinants and (iii) firm-level corporate governance determinants. We categorise the consequences into (i) financial reporting and auditing consequences, (ii) firm-level operational consequences, (iii) capital market consequences and (iv) corporate governance consequences. We suggest that future research can make a more meaningful contribution, by developing more comprehensive models of predicting financial distress which will entail a departure from the current partial analysis to a more holistic complex analysis.

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“…In doing so, we deepen knowledge about the determinants of successful turnarounds ( Boyne & Meier, 2009;D. D. Baker & Cullen, 1993;Schweizer & Nienhaus, 2017;V. L. Baker & Duhaime, 1997).…”

Section: Introductionmentioning

confidence: 99%

Firm Performance and the Strategic Components of Bankruptcy Reorganization Plans

Monteiro

Caleman

Pongeluppe

2019

BAR, Braz. Adm. Rev.

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We investigate the influence of bankruptcy reorganization plans on the recovery of distressed firms. Using qualitative comparative analysis (QCA), specifically, we perform an in-depth investigation of a set of reorganization plans submitted by publicly traded companies in Brazil. We find that the improvement in firm performance is positively related to a good diagnosis of the factors causing the crisis, a clear definition of the firm's resources, and a clear identification of the firm's competitive strengths. We also find that the absence of a good industry analysis is a critical condition for a reorganization plan to fail. However, the explicit mentioning of the firm's relevant market is negatively associated with the company's uplifting in crisis. We discuss the theoretical and managerial implications of these findings.Firm performance and the strategic components of bankruptcy reorganization plans 3 OPEN ACCESS

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Corporate distress and turnaround: integrating the literature and directing future research

Cited by 63 publications

References 289 publications

The advisory role of non-family board members: a case-based study of a family firm

The advisory role of non-family board members: a case-based study of a family firm

Determinants and consequences of financial distress: review of the empirical literature

Firm Performance and the Strategic Components of Bankruptcy Reorganization Plans

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