NAGIOS: RODERIC FUNCIONANDO

Successful turnarounds in bankrupt firms? assessing retrenchment in the most severe form of crisis

Repositori DSpace/Manakin

IMPORTANT: Aquest repositori està en una versió antiga des del 3/12/2023. La nova instal.lació está en https://roderic.uv.es/

Successful turnarounds in bankrupt firms? assessing retrenchment in the most severe form of crisis

dc.contributor.author	Rico Llopis, Manuel
dc.contributor.author	Puig Blanco, Francisco
dc.date.accessioned	2023-09-18T09:02:56Z
dc.date.available	2023-09-19T04:45:06Z
dc.date.issued	2021	es_ES
dc.identifier.citation	Rico, M., & Puig, F. (2021). Successful turnarounds in bankrupt firms? Assessing retrenchment in the most severe form of crisis. BRQ Business Research Quarterly, 24(2), 114–128	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/89322
dc.description.abstract	During economic downturns, firms file for bankruptcy in an effort to attempt a “turnaround.” The objective of this study is to assess the effectiveness of retrenchment strategies in the context of bankruptcy, as the most severe form of crisis. We conducted a longitudinal analysis of a sample of 868 bankrupt Spanish firms during the period 2004–2017. The empirical results show that stakeholder support and deep cost retrenchment increase the likelihood of survival and performance recovery, while aggressive layoffs are detrimental for turning bankrupt firms around. Surprisingly, intense asset retrenchment had no significant effects on firm survival and also pushed performance downward. The findings suggest that retrenchment should not be regarded as a general remedy for firms suffering the most severe of crisis. Bankrupt firms should focus on restoring stakeholder relationships and reducing superfluous expenses, while making employees redundant or selling assets should be evaluated carefully when attempting a turnaround.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Sage Journals	es_ES
dc.subject	turnaround	es_ES
dc.subject	strategy	es_ES
dc.subject	decline	es_ES
dc.subject	retrenchment	es_ES
dc.subject	stakeholders	es_ES
dc.subject	Spain	es_ES
dc.title	Successful turnarounds in bankrupt firms? assessing retrenchment in the most severe form of crisis	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::SOCIOLOGÍA	es_ES
dc.identifier.doi	10.1177/2340944421994117	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES
dc.type.hasVersion	VoR	es_ES
dc.rights.accessRights	open access	es_ES