A Strategic Perspective on Bankruptcy
Bill George, Andrew N. McLean
Harvard Business School, April 11, 2007
Bankruptcy -> restructuring
"take-it-or-get-nothing": a powerful bargaining tool
uncertainty of market movements leads to uncertainty of restructuring
out-of-court: less expensive, higher challenges
court-supervised: extraordinary demands are placed on management, easier access to finance
social cost of restructuring via bankruptcy
No comments:
Post a Comment