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The business failure process : towards an integrative model of the literature
Crutzen, Nathalie; Van Caillie, Didier
2007International Workshop on Default Risk and Financial Distress
 

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Keywords :
Business Failure; Failure causes and process
Abstract :
[en] Considering the fragmented literature dedicated to business failure prevention and considering the need for a unifying conceptual framework on how and why companies fail, the aim of this paper is to gather the findings from the multiple studies focused on the identification of failure factors and of failure paths, in order to propose a unifying model showing the chronological combination of the diverse factors leading a company to bankruptcy. An in-depth analysis of the existing literature and of its limitations leads us to the elaboration of an original integrative model on how and why companies fail. It is founded on a resource-based view of the firm (Wernerfelt, 1984) and it represents the different general phases through which a company goes by in its evolution towards its juridical failure. Moreover it emphasizes the fact that all companies do not necessarily follow the same paths before they disappear (Argenti, 1976).
Disciplines :
Accounting & auditing
Author, co-author :
Crutzen, Nathalie  ;  Université de Liège - ULiège > HEC-Ecole de gestion : UER > Diagnostic et contrôle de l'entreprise
Van Caillie, Didier  ;  Université de Liège - ULiège > HEC-Ecole de gestion : UER > Diagnostic et contrôle de l'entreprise - Centre d'Etude de la Performance des Entreprises (C.E.P.E.)
Language :
English
Title :
The business failure process : towards an integrative model of the literature
Publication date :
September 2007
Event name :
International Workshop on Default Risk and Financial Distress
Event organizer :
EIASM
Event place :
Rennes, France
Event date :
Septembre 2007
Audience :
International
Available on ORBi :
since 03 December 2009

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