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| Format: | Artículo científico |
| Language: | en |
| Published: |
Fundação Escola de Comércio Álvares Penteado
2020
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| Subjects: | |
| Online Access: | https://www.redalyc.org/articulo.oa?id=94768442001 https://www.redalyc.org/journal/947/94768442001/ https://www.redalyc.org/journal/947/94768442001/html/ https://www.redalyc.org/journal/947/94768442001/94768442001.epub https://www.redalyc.org/journal/947/94768442001/movil |
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Table of Contents:
- Corporate Financial Distress and Reorganization: A Survey of Theoretical and Empirical Contributions Vinicius Augusto Brunassi Silva Richard Saito Administración y Contabilidad Bankruptcy reorganization corporate distress Purpose This paper presents both a theoretical and empirical review of the bankruptcy and reorganization literature. We point out the main articles developed in the field and present a group of studies carried out after the approval of the new bankruptcy law in Brazil.Design/methodology/approach This paper provides a survey of the literature on bankruptcy and corporate reorganization. We investigate classic and recent papers in the field and present the results of some Brazilian studies that consider the announcement of the Brazilian bankruptcy law in 2005.Findings We show that information asymmetry, coordination problems, and heterogeneity between creditors are pivotal to the resolution of financial distress. Moreover, the choice of restructuring is made according to the least-cost alternative. We discuss the practical implications of the literature by analyzing three cases of reorganization in Brazil and reveal that the complexity of each case can drive the decision to approve or reject the reorganization plan.Originality/value We investigate the evolution of the bankruptcy and reorganization literature and provide a survey that explores both the international and Brazilian literature. 2020 artículo científico 1806-4892 https://www.redalyc.org/articulo.oa?id=94768442001 https://www.redalyc.org/journal/947/94768442001/ https://www.redalyc.org/journal/947/94768442001/html/ https://www.redalyc.org/journal/947/94768442001/94768442001.epub https://www.redalyc.org/journal/947/94768442001/movil 10.7819/rbgn.v22i0.4057 en http://www.redalyc.org/revista.oa?id=947 Revista Brasileira de Gestão de Negócios - RBGN application/pdf Fundação Escola de Comércio Álvares Penteado Revista Brasileira de Gestão de Negócios - RBGN (Brasil) Num.1 Vol.22