Insolvency Timing and Managerial Decision-Making An Experimental Study of Alignment of Managerial Decision-Making on Insolvency Timing with Shareholder Interests in Germany |
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| Author:
| Drescher, Frederik |
| ISBN: | 978-3-658-02818-3 |
| Publication Date: | Oct 2013 |
| Publisher: | Springer Fachmedien Wiesbaden GmbH
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| Book Format: | Paperback |
| List Price: | USD $54.99 |
Book Description:
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Frederik Drescher addresses the timing of non-mandatory insolvency filings based on threatening illiquidity (§ 18 InsO) with the aim of a company's restructuring as an agency problem between owners and management. The hypothesis of a tendency towards delayed insolvency filings, which was developed using a decision model, is experimentally confirmed. Moreover, the author analyzes different incentive instruments potentially leading to earlier insolvency filings.
Frederik Drescher addresses the timing of non-mandatory insolvency filings based on threatening illiquidity (§ 18 InsO) with the aim of a company's restructuring as an agency problem between owners and management. The hypothesis of a tendency towards delayed insolvency filings, which was developed using a decision model, is experimentally confirmed. Moreover, the author analyzes different incentive instruments potentially leading to earlier insolvency filings.