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The Management of Economic Decline and the Dimension of Organizational Change

Author

Listed:
  • Mihaela Onofrei

    (Alexandru Ioan Cuza University, Iasi, Romania)

  • Dan Lupu

    (Alexandru Ioan Cuza University, Iasi, Romania)

Abstract

In the current climate, more and more companies are faced with multiple failures, which are the basic problem that crisis management must resolve. In situations of economic decline, the need for change at the organizational level is imperative to facilitate the recovery of a company. This study aims to identify methods of corporate restructuring, which would be to adopt could be adopted by Romanian companies in a time of crisis, to ensure business sustainability. The research methodology has a theoretical and an empirical component and it is based on statistical methods that facilitated a quantitative approach, using a sample of 82 companies listed on Bucharest Stock Exchange, all of them being declared insolvent between 2000 and 2010. The research results have contributed to the classification of companies, both by generating causes of insolvency and by restructuring methods.

Suggested Citation

  • Mihaela Onofrei & Dan Lupu, 2012. "The Management of Economic Decline and the Dimension of Organizational Change," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 14(32), pages 470-484, June.
    • Handle: RePEc:aes:amfeco:v:14:y:2012:i:32:p:470-484
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Jernej Mencinger & Aleksander Aristovnik & Miroslav Verbic, 2014. "The Impact of Growing Public Debt on Economic Growth in the European Union," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 16(35), pages 403-403, February.
    2. Bogdan Constantin VORONEANU, 2013. "Current Trends In The Approach Of The Credit Relationships Between Banks And Companies," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 3(3), pages 91-97, June.
    3. Sorin-Nicolae Borlea & Monica-Violeta Achim, 2014. "From the Insolvency of the Enterprises towards the Insolvency of the Municipality: New Legislative Challenges in Romanian Space," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 4(7), pages 398-414, July.
    4. Urbano, David & Aparicio, Sebastian, 2016. "Entrepreneurship capital types and economic growth: International evidence," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 34-44.
    5. Valentin-Petru Măzăreanu, 2013. "Considerations on Risk in Supply Chain Management Information Systems Implementation," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 15(33), pages 128-139, February.

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    More about this item

    Keywords

    organizational change; restructuring; businesses sustainability; insolvency;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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