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Reorganisation success in bankruptcy: the role of entrepreneur experience, characteristics and commitment

Author

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  • Stefan Mayr
  • Christine Mitter
  • Christine Duller
  • Viktoria Mooshammer

Abstract

We examine how entrepreneur experience, characteristics and commitment impact the success of a firm's reorganisation. We refer to the resource-based view and upper echelons theory as a theoretical basis. Empirical research is based on a sample of 158 bankrupt Austrian small- and medium-sized enterprises (SMEs). To test our model, we applied bivariate analyses and logistic regression. The personality of the entrepreneur, in particular strong dynamic-creative talents, as well as concentrated ownership and financial contributions as reflections of owners' commitment appear to be important drivers for overcoming a crisis successfully. While management and industry experience of the entrepreneur as well as education seem not to influence reorganisation success, having a reorganisation plan appears to be the most decisive factor. Our findings indicate that the entrepreneurial traits that are essential for company growth and the avoidance of failure do not impact the success of the firm's reorganisation.

Suggested Citation

  • Stefan Mayr & Christine Mitter & Christine Duller & Viktoria Mooshammer, 2021. "Reorganisation success in bankruptcy: the role of entrepreneur experience, characteristics and commitment," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 13(5), pages 528-548.
    • Handle: RePEc:ids:ijeven:v:13:y:2021:i:5:p:528-548
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    Cited by:

    1. Luminița RUS & Daniela ZĂPODEANU & Carmen SCORȚE & Sorina MOCIAR-COROIU, 2022. "Indicators And 3r-Type Measures In Overcoming Financial Difficulties Of Companies," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(2), pages 153-165, December.

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