The paper provides a review of features of restructuring strategies, indicating that distress may limit the choice available. It then introduces the decision theory to show that the final choice may be influenced by objective criteria and by subjective or non-rational criteria as well as by...

In the article there is offered the author’s interpretation of the essence of the term «viability of an enterprise», it is described feasibility of its use in a crisis management process (identification of crisis and its profoundness) and in economic management (a target imperative, a basis...

We explore the timing of the replacement of a manager as an important incentive mechanism, using a real options approach in a situation where the timing of the decision to replace the manager is related to a major change in a firm's strategies that involves spending large amounts of various sunk...

The research reported here sought to identify top managers' mental models about the management of diversification and to determine whether these beliefs are associated with important strategic decisions. The study identified three broad sets of beliefs or orientations about the management of...

Increased media exposure to layoffs and corporate quarterly financial reporting have created arguable a common perception - especially favored by the media itself - that the companies have been forced to improve their financial performance from quarter to quarter. Academically the relevant...

In this study we are the first to draw on longitudinal matched employer-employee data to study CEO turnover. Using this data we contribute to the existing literature by examining the effect of previously unstudied individual characteristics on CEO turnover. Additionally, we are able to examine...

This paper investigates management turnover among the top and bottom stock market performers of the UK FT500 using clinical methodology. Consistent with previous research, we find that management turnover is higher among poor stock market performers. We identify forced departures through a new...

The popular press and scholarly studies have noted a number of trends in corporate governance. This paper addresses the broad question of whether these trends are linked. And, if so, how; The paper finds that a trend toward greater board diligence will lead to trends toward more external...