Please use this identifier to cite or link to this item: doi:10.22028/D291-31978
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Title: Investments as key entrepreneurial action: the case of financially distressed target companies
Author(s): Rapp, David J.
Haßlinger, Marius
Olbrich, Michael
Language: English
Title: International journal of entrepreneurial venturing : IJEV
Volume: 10
Issue: 5
Startpage: 558
Endpage: 580
Publisher/Platform: Inderscience Enterprises
Year of Publication: 2018
Publikation type: Journal Article
Abstract: Recent entrepreneurship research characterises investments as the very essence of entrepreneurship, supplanting the discovery or creation of opportunities. M&A activity must, therefore, be understood as a key entrepreneurial action. Corresponding M&A decisions require a reliable appraisal beforehand. This is particularly true in case of financially distressed target companies, since such transactions include a high level of uncertainty. The recent financial crisis can be characterised as a cause of companies' financial distress. For the appraisal of such financially distressed companies, literature recommends the same methods used for the appraisal of healthy companies. As will be shown, prevalent appraisal methods cause a profound dilemma when applied for the appraisal of financially distressed companies. Consequently, they need to be substituted by a consistent alternative. The aim of this paper, therefore, is to discuss such an alternative method, which can be consistently applied for the entrepreneurial appraisal of financially distressed - or even bankrupt - companies.
DOI of the first publication: 10.1504/IJEV.2018.094627
URL of the first publication:
Link to this record: hdl:20.500.11880/29563
ISSN: 1742-5360
Date of registration: 25-Aug-2020
Faculty: HW - Fakultät für Empirische Humanwissenschaften und Wirtschaftswissenschaft
Department: HW - Wirtschaftswissenschaft
Professorship: HW - Prof. Dr. Michael Olbrich
Collections:UniBib – Die Universitätsbibliographie

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