Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 528-548 |
| Number of pages | 21 |
| Journal | Int. J. Entrep. Venturing |
| Volume | 13 |
| Issue number | 5 |
| DOIs | |
| Publication status | Published - 2021 |
Keywords
- Bankruptcy
- Entrepreneur characteristics
- Financial crisis
- Reorganisation
- Small- and medium-sized enterprises
- SMEs
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In: Int. J. Entrep. Venturing, Vol. 13, No. 5, 2021, p. 528-548.
Research output: Contribution to journal › Article › peer-review
TY - JOUR
T1 - Reorganisation success in bankruptcy: The role of entrepreneur experience, characteristics and commitment
AU - Mayr, S.
AU - Mitter, C.
AU - Duller, C.
AU - Mooshammer, V.
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PY - 2021
Y1 - 2021
N2 - We examine how entrepreneur experience, characteristics and commitment impact the success of a firm's reorganisation. We refer to the resource-based view and upper echelons theory as a theoretical basis. Empirical research is based on a sample of 158 bankrupt Austrian small- and mediumsized enterprises (SMEs). To test our model, we applied bivariate analyses and logistic regression. The personality of the entrepreneur, in particular strong dynamic-creative talents, as well as concentrated ownership and financial contributions as reflections of owners' commitment appear to be important drivers for overcoming a crisis successfully. While management and industry experience of the entrepreneur as well as education seem not to influence reorganisation success, having a reorganisation plan appears to be the most decisive factor. Our findings indicate that the entrepreneurial traits that are essential for company growth and the avoidance of failure do not impact the success of the firm's reorganisation.
AB - We examine how entrepreneur experience, characteristics and commitment impact the success of a firm's reorganisation. We refer to the resource-based view and upper echelons theory as a theoretical basis. Empirical research is based on a sample of 158 bankrupt Austrian small- and mediumsized enterprises (SMEs). To test our model, we applied bivariate analyses and logistic regression. The personality of the entrepreneur, in particular strong dynamic-creative talents, as well as concentrated ownership and financial contributions as reflections of owners' commitment appear to be important drivers for overcoming a crisis successfully. While management and industry experience of the entrepreneur as well as education seem not to influence reorganisation success, having a reorganisation plan appears to be the most decisive factor. Our findings indicate that the entrepreneurial traits that are essential for company growth and the avoidance of failure do not impact the success of the firm's reorganisation.
KW - Bankruptcy
KW - Entrepreneur characteristics
KW - Financial crisis
KW - Reorganisation
KW - Small- and medium-sized enterprises
KW - SMEs
UR - https://www.mendeley.com/catalogue/ca1f830b-3a5b-3f00-84ef-b11f57e70e5b/
U2 - 10.1504/ijev.2021.119144
DO - 10.1504/ijev.2021.119144
M3 - Article
SN - 1742-5360
VL - 13
SP - 528
EP - 548
JO - Int. J. Entrep. Venturing
JF - Int. J. Entrep. Venturing
IS - 5
ER -