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dc.contributor.authorPoletti-Hughes, Jannine*
dc.contributor.authorOzkan, Aydin*
dc.date.accessioned2017-02-23T12:01:29Z
dc.date.available2017-02-23T12:01:29Z
dc.date.issued2014
dc.identifier.citationPoletti-Hughes J and Ozkan A (2014) Ultimate Controllers, Ownership and the Probability of Insolvency in Financially Distressed Firms. Managerial and Decision Economics. 35(1): 36–50.en_US
dc.identifier.urihttp://hdl.handle.net/10454/11463
dc.descriptionnoen_US
dc.description.abstractThis paper investigates the impact of corporate ownership and control on the outcome of financial distress. It is argued that the likelihood of financial distress resulting in insolvency depends on whether firms have controllers, the type of controllers and their cash flow ownership. Using a sample of 484 UK firms, 81 of which filed for insolvency, we show that financially distressed firms with controllers are more likely to be insolvent than widely held firms, where the probability of insolvency is greater when controllers are family or financial institutions. However, the probability of insolvency reduces significantly as the controllers’ cash flow ownership increases beyond 10%en_US
dc.language.isoenen_US
dc.relation.isreferencedbyhttp://dx.doi.org/10.1002/mde.2605en_US
dc.subjectCorporate ownership; Corporate control; Insolvency; Firms; Financial distressen_US
dc.titleUltimate Controllers, Ownership and the Probability of Insolvency in Financially Distressed Firmsen_US
dc.status.refereedyesen_US
dc.typeArticleen_US
dc.type.versionNo full-text in the repositoryen_US


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