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Financial Distress and Insolvency Timing

In: Insolvency Timing and Managerial Decision-Making

Author

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  • Frederik Drescher

    (TU München)

Abstract

A comprehensive exploration of financial distress requires its classification within the larger context of corporate crisis. According to Krystek (1987), a corporate crisis is an unplanned as well as unintended process of limited duration and controllability which can lead to ambivalent outcomes. It presents a substantial and sustained threat to the company's status as a going-concern or even renders it impossible. This is due to adverse effects on dominant goals of the company, whose threatening or non-achievement put the company's existence as an independent entity in the market with its original goals at risk.

Suggested Citation

  • Frederik Drescher, 2014. "Financial Distress and Insolvency Timing," Springer Books, in: Insolvency Timing and Managerial Decision-Making, edition 127, chapter 3, pages 23-52, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-02819-0_3
    DOI: 10.1007/978-3-658-02819-0_3
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