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| Tekijä: | Lajili, K. Zeghal, D. |
| Otsikko: | Corporate governance and bankruptcy filing decisions |
| Lehti: | Journal of General Management
2010 : SUMMER, VOL. 35:4, p. 3-26 |
| Asiasana: | corporate governance corporate finance bankruptcy companies USA |
| Kieli: | eng |
| Tiivistelmä: | This paper expolores the nature and extent of potential linkages between corporate governance (henceforth as: c-g.) characteristics and bankruptcy filing (here as: b-f.) decisions. Based on a sample of financially (here as: fin-lly) distressed firms (as: d-firms.) formed and matched with a group of fin-lly healthy U.S. firms from 2001 to 2003, it is shown that besides of lower business and financial health indicators faced by fin-lly d-firms compared to their fin-lly healthy counterparts, the former group also faced higher director turnover and shorter outside director tenure. Moreover, it is indicated that interactions btw. two or more c-g. characteristics could have a significant impact on the b-f. decision, thus suggesting that a multi-theory foundation for c-g. research could be justified in the future. |
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