Corporate financial distress: restructuring and turnaround
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Bingley
emerald Publishing
2021
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| Edition: | First edition |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | xvii, 163 Seiten Illustrationen, Diagramme |
| ISBN: | 9781839829819 |
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| adam_text | Table of Contents List of Tables and Figures About the Author Preface Chapter 1 ix xiii xv Corporate Distress and Financial Equilibrium: Genesis and Prognosis 1. Introduction and Background 2. Defining Corporate Distress: From Decline to Crisis 3. Crisis Factors: Identification, Handling and Governance 3.1 The Time Factor 3.2 Internal Causes 3.2.1 Inefficiency Crisis 3.2.2 Overcapacity Crisis 3.2.3 Product-related Crisis 3.2.4 Crisis Related to Lack of Planning and Innovation 3.3 External Causes: A Holistic Vision 4. Business Distress: The Importance of the Financial Structure Equilibrium 4.1 Financial Requirements and Their Constant Variability 4.2 Interdependence and Complementarity of the Company’s Different Sources of Financing 4.3 The Choice of the Most Convenient Financial Structure and ‘Leverage’ 4.4 Assessment of the Financial Equilibrium 1 1 4 7 7 8 8 9 9 9 9 11 11 14 18 22
vi Table of Contents Chapter 2 Chapter 3 Chapter 4 Corporate Recovery Plans between Value Protection and Management Turnaround 1. Corporate Financial Distress and Continuity: The Protection of Business Value. National, Economic and Legal Dimensions 2. The Feasibility of a Recovery Business Plan: Best Practice Principles (CNDCEC) 3. Turnaround Strategy of a Financially Distressed Company 4. Developing a Business Turnaround Plan Financial and Operational Business Turnarounds: Execution and Monitoring Complexity 1. The Recovery Project, Its Complexity and Execution 2. Company Organisation: A Strategic Resource in the Recovery Process 3. Organisational Recovery as an Element of the Action Plan 4. Feasibility of the Recovery Financial Plan as a Result of a Correct Execution Process (Deployment) 5. The Monitoring of the Recovery Business Plan Common Characteristics of Firms in Financial Distress and Prediction of Bankruptcy or Recovery: An Empirical Research Carried out in Italy 1. Overview of Corporate Financial Distress and Bankruptcy (with a Special Focus on Italy) and ‘Early Warning’ Signs 2. The Company Recovery in Theoretical and Empirical Research Work 3. An Empirical Analysis by the University of Pisa in 2012 on the Correlation between Financial Flows and Economic Performance (as a Predictive Element of the Crisis) 4. Empirical Analysis by the University of Pisa in 2013 on: (a) Cash Flow and Correlations with the Economic Performance of Italian Listed Companies and (b) Predictive Capacity of Past Operating Cash Flows and Profits over Future Operating Cash Flows and
Profits 25 25 32 37 43 51 51 55 56 60 64 67 67 68 69 73
Table of Contents 5. Corporate Crises, Weak Signals and Debt Restructuring: An Empirical Analysis in 2014-2015 by Bocconi University and SDA Bocconi 6. Business Administrative Systems (BAS) and Bankruptcy Financial Distress (Based on the Observatory on Corporate Crisis ֊ ОСІ Survey (2011)) 6.1 Reorganisation Strategies and Administrative Systems 6.2 Business Administrative Systems in Financial Distress Situation 6.3 Results 7. Innovative Empirical Research by Bocconi University and Parthenope University in 2018 on Corporate Recovery over a 10-year Observation Period (2007-2016) 8. Empirical Research for the Predictive Ability of Cash Flows for Measuring Firm Performance (2020) 8.1 Data Source 8.2 Regression Model 8.3 Results 9. Conclusions Chapter 5 Business Case: The Financial Restructuring of the ‘Alpha’ Group (2013-2015) 1. The ‘Alpha’ Group and Its Business Model Over Time 2. The Reference Market and Sector 3. Causes of the Alpha Group Crisis 3.1 Exogenous Causes 3.2 Endogenous Causes 4. Recovery Actions: The 2013-2015 Financial and Strategic Recovery Plan 5. The Proposal of a Financial Intervention 6. A Successful Turnaround: Overcoming the Financial Crisis Situation of the Alpha Group 7. The Achievement of the Commercial, Economic, Equity and Financial Objectives of the Recovery Plan during the Turnaround Period vii 79 81 82 84 85 88 94 94 95 95 97 101 101 102 105 106 107 109 114 118 118
viii Table of Contents 8. The Group’s Performance in the Recovery Phase (2013-2015) 9. The Prospective Financial Balance: Guidelines and Strategic Objectives of the Post Turnaround Plan (2016-2018) 10. From Financial Crisis to Value Creation: The Search for a Partner to Foster International Growth 11. Conclusions 119 128 136 136 References 139 Index 161
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| adam_txt |
Table of Contents List of Tables and Figures About the Author Preface Chapter 1 ix xiii xv Corporate Distress and Financial Equilibrium: Genesis and Prognosis 1. Introduction and Background 2. Defining Corporate Distress: From Decline to Crisis 3. Crisis Factors: Identification, Handling and Governance 3.1 The Time Factor 3.2 Internal Causes 3.2.1 Inefficiency Crisis 3.2.2 Overcapacity Crisis 3.2.3 Product-related Crisis 3.2.4 Crisis Related to Lack of Planning and Innovation 3.3 External Causes: A Holistic Vision 4. Business Distress: The Importance of the Financial Structure Equilibrium 4.1 Financial Requirements and Their Constant Variability 4.2 Interdependence and Complementarity of the Company’s Different Sources of Financing 4.3 The Choice of the Most Convenient Financial Structure and ‘Leverage’ 4.4 Assessment of the Financial Equilibrium 1 1 4 7 7 8 8 9 9 9 9 11 11 14 18 22
vi Table of Contents Chapter 2 Chapter 3 Chapter 4 Corporate Recovery Plans between Value Protection and Management Turnaround 1. Corporate Financial Distress and Continuity: The Protection of Business Value. National, Economic and Legal Dimensions 2. The Feasibility of a Recovery Business Plan: Best Practice Principles (CNDCEC) 3. Turnaround Strategy of a Financially Distressed Company 4. Developing a Business Turnaround Plan Financial and Operational Business Turnarounds: Execution and Monitoring Complexity 1. The Recovery Project, Its Complexity and Execution 2. Company Organisation: A Strategic Resource in the Recovery Process 3. Organisational Recovery as an Element of the Action Plan 4. Feasibility of the Recovery Financial Plan as a Result of a Correct Execution Process (Deployment) 5. The Monitoring of the Recovery Business Plan Common Characteristics of Firms in Financial Distress and Prediction of Bankruptcy or Recovery: An Empirical Research Carried out in Italy 1. Overview of Corporate Financial Distress and Bankruptcy (with a Special Focus on Italy) and ‘Early Warning’ Signs 2. The Company Recovery in Theoretical and Empirical Research Work 3. An Empirical Analysis by the University of Pisa in 2012 on the Correlation between Financial Flows and Economic Performance (as a Predictive Element of the Crisis) 4. Empirical Analysis by the University of Pisa in 2013 on: (a) Cash Flow and Correlations with the Economic Performance of Italian Listed Companies and (b) Predictive Capacity of Past Operating Cash Flows and Profits over Future Operating Cash Flows and
Profits 25 25 32 37 43 51 51 55 56 60 64 67 67 68 69 73
Table of Contents 5. Corporate Crises, Weak Signals and Debt Restructuring: An Empirical Analysis in 2014-2015 by Bocconi University and SDA Bocconi 6. Business Administrative Systems (BAS) and Bankruptcy Financial Distress (Based on the Observatory on Corporate Crisis ֊ ОСІ Survey (2011)) 6.1 Reorganisation Strategies and Administrative Systems 6.2 Business Administrative Systems in Financial Distress Situation 6.3 Results 7. Innovative Empirical Research by Bocconi University and Parthenope University in 2018 on Corporate Recovery over a 10-year Observation Period (2007-2016) 8. Empirical Research for the Predictive Ability of Cash Flows for Measuring Firm Performance (2020) 8.1 Data Source 8.2 Regression Model 8.3 Results 9. Conclusions Chapter 5 Business Case: The Financial Restructuring of the ‘Alpha’ Group (2013-2015) 1. The ‘Alpha’ Group and Its Business Model Over Time 2. The Reference Market and Sector 3. Causes of the Alpha Group Crisis 3.1 Exogenous Causes 3.2 Endogenous Causes 4. Recovery Actions: The 2013-2015 Financial and Strategic Recovery Plan 5. The Proposal of a Financial Intervention 6. A Successful Turnaround: Overcoming the Financial Crisis Situation of the Alpha Group 7. The Achievement of the Commercial, Economic, Equity and Financial Objectives of the Recovery Plan during the Turnaround Period vii 79 81 82 84 85 88 94 94 95 95 97 101 101 102 105 106 107 109 114 118 118
viii Table of Contents 8. The Group’s Performance in the Recovery Phase (2013-2015) 9. The Prospective Financial Balance: Guidelines and Strategic Objectives of the Post Turnaround Plan (2016-2018) 10. From Financial Crisis to Value Creation: The Search for a Partner to Foster International Growth 11. Conclusions 119 128 136 136 References 139 Index 161 |
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| illustrated | Illustrated |
| index_date | 2024-07-03T16:34:22Z |
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| institution | BVB |
| isbn | 9781839829819 |
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| spelling | Tron, Alberto Verfasser (DE-588)1230419837 aut Corporate financial distress restructuring and turnaround by Dr Alberto Tron, Bocconi University, Italy First edition Bingley emerald Publishing 2021 xvii, 163 Seiten Illustrationen, Diagramme txt rdacontent n rdamedia nc rdacarrier Unternehmenssanierung (DE-588)4078612-2 gnd rswk-swf Überschuldung (DE-588)4061407-4 gnd rswk-swf Insolvenz (DE-588)4072843-2 gnd rswk-swf Insolvenz (DE-588)4072843-2 s Überschuldung (DE-588)4061407-4 s Unternehmenssanierung (DE-588)4078612-2 s b DE-604 Erscheint auch als Online-Ausgabe 978-1-83982-980-2 Erscheint auch als Online-Ausgabe, EPUB 978-1-83982-982-6 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=032543154&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Tron, Alberto Corporate financial distress restructuring and turnaround Unternehmenssanierung (DE-588)4078612-2 gnd Überschuldung (DE-588)4061407-4 gnd Insolvenz (DE-588)4072843-2 gnd |
| subject_GND | (DE-588)4078612-2 (DE-588)4061407-4 (DE-588)4072843-2 |
| title | Corporate financial distress restructuring and turnaround |
| title_auth | Corporate financial distress restructuring and turnaround |
| title_exact_search | Corporate financial distress restructuring and turnaround |
| title_exact_search_txtP | Corporate financial distress restructuring and turnaround |
| title_full | Corporate financial distress restructuring and turnaround by Dr Alberto Tron, Bocconi University, Italy |
| title_fullStr | Corporate financial distress restructuring and turnaround by Dr Alberto Tron, Bocconi University, Italy |
| title_full_unstemmed | Corporate financial distress restructuring and turnaround by Dr Alberto Tron, Bocconi University, Italy |
| title_short | Corporate financial distress |
| title_sort | corporate financial distress restructuring and turnaround |
| title_sub | restructuring and turnaround |
| topic | Unternehmenssanierung (DE-588)4078612-2 gnd Überschuldung (DE-588)4061407-4 gnd Insolvenz (DE-588)4072843-2 gnd |
| topic_facet | Unternehmenssanierung Überschuldung Insolvenz |
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