Wertzuteilung wirken. The success of a corporate restructuring depends not only on the know-how of the turnaround-managers but also … on the structure of the legal framework. In this paper we analyze the influence of German insolvency law and tax regime … German insolvency plan procedure. We compare these results with those of options models proposed e.g. by Bebchuk or Aghion …

conducted on a test sample of 380 business entities: 190 companies subject to bankruptcy in the years 2007-2011 and 190 “healthy …-dimensional bankruptcy predictors used to predict and early detect symptoms of companies threatened with bankruptcy. …

household and corporate balance sheets. In the end, effective solutions depend on developing a comprehensive strategy combining …

Existing models of decline and turnaround assume an automatic initiation of a turnaround strategy when decline occurs …. However, extended decline over time suggests that the turnaround strategy did not match the causality and severity of the … in the turnaround process by influencing strategies and inducing management changes. Incorporating the need for, and role …