...Rizwan Ali; Ali Amin; Ramiz Ur Rehman; Collins G. Ntim Purpose The characteristics of the family businesses change after the transition of a firm to the next generation. We examine the effects of post-succession behavior of lone founder firms and family firms on the level of financial distress...

... by firms in covenant default and, third, to provide an estimate of the cost to creditors of managerial risk-shifting. Design/methodology/approach The paper examines the relationship between market volatility and investment of financially distressed firms in a real options framework. The debt is taken...

...Yuan George Shan; Indrit Troshani; Jimin Wang; Lu Zhang Purpose This study investigates the convergence-of-interest and entrenchment effects on the relationship between managerial ownership and financial distress using evidence from the Chinese stock market. It also analyzes whether...

... of financial distress. The findings suggest that creditors view executive pay disparity are associated with higher credit risk and CEO entrenchment. Originality/value This paper reveals one “dark” side of executive pay disparity: it increases the cost of debt and identifies a significant role played...

...Gaurav Gupta; Jitendra Mahakud Purpose The purpose of this study is to examine the impact of financial distress (FD) on investment-cash flow sensitivity (ICFS) of Indian firms. Design/methodology/approach The study uses the system generalized method of moments (GMM) technique to investigate...

...Guilherme Freitas Cardoso; Fernanda Maciel Peixoto; Flavio Barboza Purpose The purpose of this paper is to investigate what board characteristics affect companies in periods of financial distress (FD) among non-financial Brazilian firms and examine which model best fits to predict FD. Design...