Financial Distress, Corporate Restructuring and Firm Survival: An Empirical Analysis of German Panel Data

by Philipp Jostarndt

Philipp Jostarndt studies distress-induced changes in ownership and control, success factors in distressed equity infusions, and firms’ choice between in- and out-of-court debt restructurings. In addition, he analyzes the determinants of survival, acquisition, and bankruptcy as alternative paths to exit financial distress. He includes both the firm perspective as well as the market valuations of the undertaken restructurings and, where applicable, relates the findings to the microstructure of Germany’s revised bankruptcy legislation.

218 pages, Paperback

First published February 22, 2007