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A generalized model of decision‐making processes for companies in financial distress

Author

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  • Stewart A Leech
  • Nicole Clark
  • Philip A Collier

Abstract

Decisions by insolvency experts are vital to the future of a company in financial difficulties and impact the financial returns to creditors and other stakeholders. This paper describes a generalized model of the decision‐making processes used by insolvency experts when dealing with companies in financial distress. The model includes identification of high‐level factors that are important in making insolvency decisions and how these factors are used in the decision‐making processes of insolvency experts. In particular, financial and non‐financial factors are required for judgments about relevant stakeholders and the future of a company. Validation experiments show a high degree of conformance between the model and a variety of actual cases.

Suggested Citation

  • Stewart A Leech & Nicole Clark & Philip A Collier, 1999. "A generalized model of decision‐making processes for companies in financial distress," Accounting Forum, Taylor & Francis Journals, vol. 23(2), pages 155-174, June.
    • Handle: RePEc:taf:accfor:v:23:y:1999:i:2:p:155-174
    DOI: 10.1111/1467-6303.00009
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    Cited by:

    1. Vicky Arnold & Philip A. Collier & Stewart A. Leech & Steve G. Sutton & Andrew Vincent, 2013. "Incase: Simulating Experience To Accelerate Expertise Development By Knowledge Workers," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 20(1), pages 1-21, January.
    2. Vicky Arnold & Nicole Clark & Philip A. Collier & Stewart A. Leech & Steve G. Sutton, 2004. "Explanation provision and use in an intelligent decision aid," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 12(1), pages 5-27, January.
    3. Sutton, Steve G. & Arnold, Vicky & Collier, Phil & Leech, Stewart A., 2021. "Leveraging the synergies between design science and behavioral science research methods," International Journal of Accounting Information Systems, Elsevier, vol. 43(C).

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