Titlebook: Insolvency Timing and Managerial Decision-Making; Frederik Drescher Book 2014 Springer Fachmedien Wiesbaden 2014 Experiment.Financial Dist

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Frederik Drescherlly defined as attacks on an individual or socially marginalised group, may impact access to web content for socially marginalised groups. In addition, rendered invisibility, for example being unable to choose your gender in a web form, may act as a psychological and practical barrier to accessing w

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Frederik Dreschershould consider the diversity of users and disabilities but also the educational and societal contexts, as well as subjectivities (i.e. personal experience of disability, own motivations, etc.). Co-design is a method that encompasses all those features, but it is not easy to achieve with impaired us

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Introduction,n in which the financial conditions of a company have deteriorated to a degree where it is unlikely to remain in business without adequate restructuring measures. Free (out-of- court) restructuring is subject to time limits as imposed by the German Insolvency Code. It postulates that at a certain po

Ceramic

Insolvency Timing as an Agency Problem,ntly, it is also subsumed under the broader terms of contract theory or theory of incentives. It forms an integral part of new institutional economics, which also encompass the concepts of property rights and transaction costs. These concepts were developed in reaction to the Neoclassical Equilibriu

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Financial Distress and Insolvency Timing,te 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 g

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Managerial Insolvency Timing Decision,contingent on the individual characteristics of the decision-maker. In this process, the decision-maker combines his personal preferences and beliefs to reach a final choice. The literature broadly distinguishes two complementing cognitive systems performing this combination: reasoning and intuition

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Experimental Testing of Interest Alignment Instruments,f interest alignment instruments requires the formulation of testable hypotheses. Four main causal hypotheses are put forward here that state the expected relation between different settings of interest alignment instruments and the resulting managerial insolvency timing decision. Each hypothesis al

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Conclusion,areholders in Germany. It was shown that an initiation of prepackaged insolvency proceedings is generally in the best interests of shareholders as soon as the legal insolvency trigger of threatening illiquidity is objectively reached. This is due to superior restructuring instruments provided by the