This paper examines the pivotal role of Nicola Miraglia in steering the Banco di Napoli through a tumultuous period of economic crisis and institutional decay in the late 19th and early 20th centuries. Miraglia undertook the daunting task of managing a bank on the brink of bankruptcy due to the...

This paper examines the pivotal role of Nicola Miraglia in steering the Banco di Napoli through a tumultuous period of economic crisis and institutional decay in the late 19th and early 20th centuries. Miraglia undertook the daunting task of managing a bank on the brink of bankruptcy due to the...

Many companies struggle with strategy implementation due to the complex nature of execution. Some strategy execution systems depend on numerous indicators, making it challenging for managers to oversee effectively. Additionally, during times of financial difficulty, companies require a...

The primary objective of this study is to address the limitations in existing turnaround management literature by providing managers with a reliable framework and step-by-step guidance for successful turnarounds. This research examines ten real-life turnaround experiences through primary...

Many countries' insolvency systems focus on restructuring financial liabilities, and ignore operational liabilities such as leases and long-term supplier contracts. We model insolvency procedures with and without operational restructuring options. Such options avoid excessive liquidation of...

"This Research Handbook presents a systematic review of the latest research on organizational decline and turnaround. Showcasing contributions from leading scholars across the globe, chapters critically assess turnaround practices and highlight promising future directions for study. Representing...

Unternehmenskrisen stellen im Eintrittsfall enorme Herausforderungen an das Management und die Stakeholder. Vor diesem Hintergrund widmet sich die Arbeit der wichtigen wie zeitlosen Frage, wie Krisenunternehmen wirksam saniert werden können. Nach einer theoretischen Aufarbeitung und Analyse der...

Though there is now a growing body of research on entrepreneurial turnaround, little effort has been made to integrate emergent knowledge that remains highly fragmented and inconsistent. To address these issues, we explore and analyze the literature on entrepreneurial turnaround by...

Although family firms are the most common form of enterprise worldwide, what is currently known about the decline and turnaround of family businesses remains ambiguous. Therefore, a systematic literature review is required. Based on a review of the literature, the unique complexities that emerge...

Despite abundant research into causes and responses to organizational decline, turnaround success rates remain remarkably low. To help remedy this issue, we adopt a relatively novel perspective that examines turnaround from a process strategy perspective as opposed to the more prominent content...

Corporate decline and turnaround have long been an important topic of study for strategic management scholars. This stream of research has explored why organizations decline and what sorts of actions their leaders take to achieve successful performance turnaround. The emergence of powerful...

Die restrukturierungs- und insolvenzrechtliche Priorität legt fest, in welcher Reihenfolge Eigen- und Fremdkapitalgeber in der finanziellen Krise des Unternehmens Zugriff auf den Unternehmenswert erhalten. Damit entfaltet die Priorität verhaltenssteuernde Anreizwirkungen und bestimmt...

Im Januar 2021 trat das StaRUG in Kraft und schuf erstmals einen rechtlichen Rahmen für Sanierungen außerhalb des Insolvenzverfahrens. Neben den Regelungen zum Restrukturierungsplan enthält das Gesetz auch Bestimmungen zur Sanierungsmoderation und zum Sanierungsvergleich, die zunächst...

Das Handbuch liefert einen systematischen Überblick und inhaltlichen Tiefgang über die wirtschaftlichen, rechtlichen und tatsächlichen Herausforderungen von Krankenhausrestrukturierungen. Die in der juristischen Literatur bestehenden Lücken werden geschlossen und alle relevanten Umstände...

All too often organizations appoint a new CEO to turnaround their fortunes, only to see a familiar pattern of failure repeated with each new strategy. Is this simply a case of poor leadership, or are there more complex issues at play? John Oliver’s ground-breaking book introduces the...

I develop a theoretical model for investigating the cost of failure to commit in the provision of bailouts to financial institutions. When a financial institution fails, the fiscal authority often deviates from its ex ante no-bailout commitment: the ex post best response is to bail out. The...

I develop a theoretical model for investigating the cost of failure to commit in the provision of bailouts to financial institutions. When a financial institution fails, the fiscal authority often deviates from its ex ante no-bailout commitment: the ex post best response is to bail out. The...

This study examines the influence of financial distress on corporate restructuring decisions and whether this restructuring varies across the Firm Life Cycle (FLC) stages of Pakistani non-financial listed firms for the 12 years from 2005 to 2016 inclusive. FLC stages and financial distress are...

This paper presents principles that could guide the design of more targeted policy support and facilitate the restructuring of firms adversely impacted by the COVID-19 pandemic. To this end, the paper takes stock of vulnerabilities and risks in the enterprise sector and assesses countries'...

Part I. Fundamentals -- Chapter 1. Reprise – The Five Phases of Restructuring -- Chapter 2. Debt Distress in the EMs -- Chapter 3. Ten Observations - Corporate Debt Restructuring in the EMs -- Part II. Application -- Chapter 4. Case 1 – Horizon Bank -- Chapter 5. Case 2 – Global...