Ethical Issues that arise in Bankruptcy

Boettcher, Jacques; Cavanagh, Sean; Xu, Mengli

doi:10.1111/basr.12042

Cited by 7 publications

(2 citation statements)

References 24 publications

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“…As future research lines, we propose to consider the inclusion of court resources and court efficiency. The commercial court (Juzgado de lo Mercantil) is responsible for the formal procedure, and both agility and efficiency are desirable [50]. We suggest combining firm-specific and location-specific factors when studying turnaround attempts, either in or out of the bankruptcy context.…”

Section: Discussionmentioning

confidence: 99%

Regional Disparities and Spatial Dependence of Bankruptcy in Spain

2021

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Firm survival, bankruptcy, and turnaround are of great interest nowadays. Bankruptcy is the ultimate resource for a company to survive when it is affected by a severe decline. Thus, determinants of firm turnaround and survival in the context of bankruptcy are of interest to researchers, managers, and policy-makers. Prior turnaround literature has broadly studied firm-specific factors for turnaround success. However, location-specific factors remain relatively unstudied despite their increasing relevance. Thus, this paper aims to evaluate the existence of spatial dependence on the outcome of the bankruptcy procedure. Economic geography and business literature suggest that location matters and closer companies behave similarly to further ones. For this purpose, we designed a longitudinal analysis employing spatial correlation techniques. The analyses were conducted on a sample of 862 Spanish bankrupt firms (2004–2017) at a regional level (province). For overcoming the limitations of the broadly usually logistic model employed for the turnaround context, the Moran’s Index and the Local Association Index (LISA) were applied with gvSIG and GeoDa software. The empirical results show that the predictors GDP per capita and manufacturing specialization are related to higher bankruptcy survival rates. Both characteristics tend to be present in the identified cluster of provinces with better outcomes located in the North of Spain. We suggest that location broadly impacts the likelihood of the survival of a bankrupt firm, which can condition the strategic decision of locating in one region or another. Our findings provide policy-makers, managers, and researchers with relevant contributions and future investigation lines.

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Section: Discussionmentioning

confidence: 99%

Regional Disparities and Spatial Dependence of Bankruptcy in Spain

2021

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“…La preocupación por los procesos de insolvencia ha sido una constante tanto en la investigación como en la praxis empresarial. Esta insistencia está claramente justificada por la afección que causa a múltiples agentes económicos, dentro y fuera de la organización, pero también por las externalidades negativas y los costes sociales inherentes a los procesos de liquidación (Boettcher et al, 2014). En el ámbito concreto de las finanzas, la investigación está profundamente enraizada en el análisis financiero; no obstante, su perspectiva de trabajo ha cambiado sustancialmente a lo largo del tiempo.…”

Section: Introductionunclassified

Recursos TIC y supervivencia empresarial: una revisión de la noción de ventaja competitiva

Sánchez

2020

Estudios de Economía

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El estudio de las disfunciones financieras de las empresas ha sido un tópico común en la investigación a lo largo de las últimas décadas; no obstante, algunos aspectos de los procesos de fracaso han recibido relativamente poca atención. Este trabajo profundiza en su dimensión temporal. Exploramos la forma en que una categoría concreta de recursos, los activos y capacidades vinculados a las tecnologías de la información, altera la probabilidad de sobrevivir durante diferentes horizontes arbitrarios. Diseñamos y ajustamos una regresión de Cox, partiendo de la fundamentación teórica aportada por el enfoque de recursos y capacidades. Hallamos evidencia indicativa de que las expectativas de supervivencia están influidas por el uso de recursos TIC orientados a la gestión comercial, por la experiencia de gestión en materia de TIC y por la habilidad para desplegar estrategias de colaboración interna y externa. Los resultados son robustos incluso cuando se consideran las particularidades de la actividad y las características financieras específicas de cada empresa.

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Bankruptcy Prevention: New Effort to Reflect on Legal and Social Changes

et al. 2017

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Every corporation has an economic and moral responsibility to its stockholders to perform well financially. However, the number of bankruptcies in Slovakia has been growing for several years without an apparent macroeconomic cause. To prevent a rapid denigration and to prevent the outflow of foreign capital, various efforts are being zealously implemented. Robust analysis using conventional bankruptcy prediction tools revealed that the existing models are adaptable to local conditions, particularly local legislation. Furthermore, it was confirmed that most of these outdated tools have sufficient capability to warn of impending financial problems several years in advance. A novel bankruptcy prediction tool that outperforms the conventional models was developed. However, it is increasingly challenging to predict bankruptcy risk as corporations have become more global and more complex and as they have developed sophisticated schemes to hide their actual situations under the guise of "optimization" for tax authorities. Nevertheless, scepticism remains because economic engineers have established bankruptcy as a strategy to limit the liability resulting from court-imposed penalties.

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Ethical Issues that arise in Bankruptcy

Cited by 7 publications

References 24 publications

Regional Disparities and Spatial Dependence of Bankruptcy in Spain

Regional Disparities and Spatial Dependence of Bankruptcy in Spain

Recursos TIC y supervivencia empresarial: una revisión de la noción de ventaja competitiva

Bankruptcy Prevention: New Effort to Reflect on Legal and Social Changes

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