We synthesise the empirical literature on the determinants and consequences of financial
distress, critique the findings and offer suggestions for future research. We categorise these …

Published in 1997, this text focuses on the conundrum between the academics ability to
distinguish between failing and non-failing businesses with models of over 85.5 per cent …

Although copious statistical failure prediction models are described in the literature,
appropriate tests of whether such methodologies really work in practice are lacking …

The topic of corporate distress and turnaround has been of interest to organizational change
theory for many decades. This article considers existing reviews in discussing the current …

There is a paradox in bank mergers. On average, bank mergers do not create value, yet they
continue to occur. Using cross-sectional analysis to examine 54 bank mergers announced …

Building on recent advances in the socioemotional wealth (SEW) literature and the concept
of bifurcation bias, we explore the first turnaround response of family firms to a decline in …

Using a hand collected data set of 138 buy-outs, this paper presents the first analysis of the
impact effects of public to private transactions (PTPs) in the UK during a period (1998–2004) …

Financial distress is a research topic in finance that has attracted attention from academia
following past financial crises. Although previous studies associate financial distress with …

We examine a sample of 552 firms that announce asset purchases. We find that the
announcement period returns are negatively related to the amount of free cash flow for …

Despite the advantages of debt, a significant number of firms that have an established
leverage policy deliberately become all-equity. These firms eliminate a substantial amount …