Corporate Restructuring of Dutch Companies: An Empirical Analysis

van Frederikslust, Ruud A.I.; Leermakers, Werner T.J.; Soedito, S. Noraly; van Dalen, Jan

doi:10.2139/ssrn.392594

Corporate Restructuring of Dutch Companies: An Empirical Analysis

28 Pages Posted: 26 May 2003

See all articles by Ruud A.I. van Frederikslust

Ruud A.I. van Frederikslust

Erasmus University Rotterdam (EUR) - Department of Financial Management

Jan van Dalen

Erasmus University Rotterdam (EUR) - Rotterdam School of Management (RSM)

Abstract

Firms in performance decline may choose a wide variety of restructuring strategies for recovery. Different kind of strategies may have different implications for stakeholders, such as managers, shareholders and lenders. The choice of recovery strategies is therefore among others determined by the influence of these stakeholders, which can be measured by the lending structure, ownership structure and corporate governance mechanisms. The effects of these characteristics are examined for a sample of 75 Dutch listed companies. The companies have experienced a decline in stock return in the period 1985-1998. The results will be analysed and compared with similar studies in the United States, the United Kingdom, Canada and Japan.

Keywords: restructuring, recovery, corporate governance

JEL Classification: G32, G34

Suggested Citation: Suggested Citation

van Frederikslust, Ruud A.I. and Leermakers, Werner T.J. and Soedito, S. Noraly and van Dalen, Jan, Corporate Restructuring of Dutch Companies: An Empirical Analysis. Available at SSRN: https://ssrn.com/abstract=392594 or http://dx.doi.org/10.2139/ssrn.392594