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An Investigation Of Industry And Firm Structural Characteristics In Corporate Turnarounds

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  • Laurie W. Paint

Abstract

This article uses the structure/conduct/performance framework as an underpinning to investigate the attributes of turnaround firms. Turnaround is defined as a substantial improvement of the firms's return on assets relative to the average return of its industry. Industry and firm structural characteristics including concentration, industry growth, R&D, advertising, market share, size, diversification, capital intensity and margins are identified. The results of a series of univariate and multivariate tests run on a sample of turnaround and non‐turnaround firms indicate that size, R&D, and an interaction between operating margin and advertising can be helpful in explaining some turnaround situations.

Suggested Citation

  • Laurie W. Paint, 1991. "An Investigation Of Industry And Firm Structural Characteristics In Corporate Turnarounds," Journal of Management Studies, Wiley Blackwell, vol. 28(6), pages 623-643, November.
    • Handle: RePEc:bla:jomstd:v:28:y:1991:i:6:p:623-643
    DOI: 10.1111/j.1467-6486.1991.tb00983.x
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    Cited by:

    1. Piotr Bieniasz-Krzywiec, 2015. "Corporate Turnaround – Biproraf Case Study," GUT FME Conference Publications, in: Blazej Prusak (ed.),ENTERPRISES IN UNSTABLE ECONOMY, chapter 16, pages 211-222, Faculty of Management and Economics, Gdansk University of Technology.
    2. Jose L. Barbero & Alicia Ramos & Catherine Chiang, 2017. "Restructuring in dynamic environments: a dynamic capabilities perspective," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 26(4), pages 593-615.
    3. Giriati, 2018. "Determinants of the Success of Corporate Recovery in Financial Distressed Company," GATR Journals jfbr141, Global Academy of Training and Research (GATR) Enterprise.

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