This paper makes an empirical contribution to confirm the stylized fact that the performance of firms deteoriates in the years before exit. For this reason we evaluate whether market exits differ significantly in their employment development in the years before market drop-out compared to...

Unternehmenskrisen sind ein Realphänomen von hoher Relevanz. Die erfolgreiche Bewältigung verdient die besondere Aufmerksamkeit der Betriebswirtschaftslehre. Der vorliegende Artikel nutzt eine systematische Dokumentanalyse von Sanierungsplänen (sog. Insolvenzpläne) zur Identifikation...

Turnaround process involved many approaches of strategic and tactical attempts. However, such knowledge are difficult to identified since many previous studies only focused on what constitute successful turnaround, and limited to the use of financial data. As turnaround is a transformational...

During economic downturns, firms file for bankruptcy in an effort to attempt a "turnaround". The objective of this study is to assess the effectiveness of retrenchment strategies in the context of bankruptcy, as the most severe form of crisis. We conducted a longitudinal analysis of a sample of...

This paper makes an empirical contribution to confirm the stylized fact that the performance of firms deteoriates in the years before exit. For this reason we evaluate whether market exits differ significantly in their employment development in the years before market drop-out compared to...