Firm exit after distress: differentiating between bankruptcy, voluntary liquidation and M&A

127 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

What do we really mean when we talk about ‘exit’? A critical review of research on entrepreneurial exit (2014, unknown): “…research are numerous and include factors that influence the mortality of firms (e.g. Brüderl et al., 1992), firm level determinants of exit (e.g. Balcaen et al., 2012; Ghemawat and Nalebuff, 1985), the relationship between funding and exit (e.g. Cumming, 2008), the relationship between…”
Making sense of entrepreneurial exit strategies: A typology and test (2015, background): “Balcaen et al. (2012) examined 6118 distress-related exits in Belgium and found that 41% filed for bankruptcy, 44% liquidated voluntarily, and 14% were acquired.”
Failure or voluntary exit? Reassessing the female underperformance hypothesis (2015, background): “In line with recent research (e.g., Balcaen et al., 2012), we account for a broader set of failure reasons beyond pure bankruptcy, such as that the business was not pro ﬁ table or other ﬁ nancial reasons.”
To Merge, Sell, or Liquidate? Socioemotional Wealth, Family Control, and the Choice of Business Exit (2019, unknown): “First, while exit by merger may be problematic for most businesses (Kanatas & Qi, 2004; Weber & Camerer, 2003), poor-performing firms can use the sale or liquidation mode of exit as a vehicle to generate immediate cash returns that owners can transfer to more highly valued uses (Balcaen et al., 2012”