Corporate Financial Distress: A Roadmap of the Academic Literature Concerning its Definition and Tools of Evaluation

Agostini, Marisa

doi:10.1007/978-3-319-78500-4_2

Cited by 9 publications

(5 citation statements)

References 151 publications

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“…The occurrence of the financial crisis has made enterprise managers realize the importance of the level of financial distress. Companies are vulnerable during financial crises [33]. Based on the negative correlation between financial crisis and corporate performance, as an exogenous variable the financial crisis will amplify this effect [34].…”

Section: Relationship Between Financial Distress and Cfpmentioning

confidence: 99%

The Impact of CSR and Financial Distress on Financial Performance—Evidence from Chinese Listed Companies of the Manufacturing Industry

et al. 2020

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This paper explores the impact of corporate social responsibility (CSR) and financial distress on corporate financial performance (CFP) in Chinese listed companies of the manufacturing industry. Covering a total of 1445 manufacturing observations from 2013 to 2018 by matching the China Stock Market & Accounting Research Database (CSMAR) and Ranking CSR Ratings (RKS) database and regression models, we find that CSR has a significant positive impact on CFP, and the relationship is more pronounced for firms that are more stable. Further, the win-win relationship of CSR and CFP is also stronger in state-owned enterprises (SOEs). These empirical results suggest that enterprises should actively embrace CSR in response to the call of the country. At the same time, corporate stability should be increased to enhance the role of CSR in promoting CFP. We provide a quantitative analysis of the CSR, CFP, and financial distress of listed firms, and help to alleviate managers’ concern of CSR fulfillment and risk control.

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Section: Relationship Between Financial Distress and Cfpmentioning

confidence: 99%

The Impact of CSR and Financial Distress on Financial Performance—Evidence from Chinese Listed Companies of the Manufacturing Industry

et al. 2020

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“…Financial distress is terminology in corporate finance used to represent a condition where the company's commitment to pay debts to creditors had been violated or unable to be paid. Financial distress is a serious problem that could lead to the company's bankruptcy (Agostini, 2018;Sun et al, 2014). It is usually linked to the high cost for the company due to not being able to pay their obligations, called financial distress cost (Bae, 2012).…”

Section: Introductionmentioning

confidence: 99%

Empirical Evidence of Financial Distress in Indonesia

Amri

Aryani

2021

JAP

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ABSTRACTThis study aims to give empirical evidence on the development of research on financial distress in Indonesia. We identified articles with a cause-effect relationship where financial distress was used as the dependent variable. This study analyzed twenty-eight articles about financial distress, obtained from eighteen nationally accredited journals indexed under Sinta 2. We classified articles based on the research variables used, then analyzed them by using the charting field method. This study found that internal factors such as financial condition and corporate governance are used more often than external factors such as inflation, exchange rate, and Gross Domestic Product (GDP) in research about financial distress in Indonesia. Moreover, some variables gave inconsistent results and should be studied further to find such inconsistencies.ABSTRAKPenelitian ini bertujuan untuk memberikan bukti empiris tentang studi perkembangan financial distress di Indonesia. Kami mengidentifikasi artikel yang memiliki hubungan sebab akibat dimana financial distress ditempatkan sebagai variabel dependen. Penelitian ini menganalisis dua puluh delapan artikel tentang financial distress yang berasal dari delapan belas jurnal nasional terakreditasi dan terindeks Sinta 2. Kami mengklasifikasikan artikel berdasarkan variabel penelitian yang digunakan, kemudian melakukan pendekatan pemetaan (charting field). Studi ini menemukan faktor internal seperti kondisi keuangan dan tata kelola perusahaan lebih sering digunakan dibandingkan dengan faktor eksternal seperti inflasi, nilai tukar dan produk domestic bruto (PDB) dalam penelitian financial distress. Selain itu, terdapat beberapa variabel yang menunjukkan ketidakkonsistenan terhadap financial distress. Sehingga, perlu dilakukan pengkajian mendalam untuk mengetahui penyebab ketidakkonsistennya variabel-variabel tersebut.

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“…Beberapa perusahaan tidak mampu menghindari kondisi financial distress. Financial distress adalah terminologi dalam keuangan perusahaan yang digunakan untuk menggambarkan suatu kondisi di mana komitmen perusahaan untuk membayar hutang kepada kreditur telah dilanggar atau tidak dapat dibayar (Sun, et al, 2014;Agostini, 2018). Hal tersebut pada umumnya terkait dengan tingginya biaya bagi perusahaan karena tidak mampu membayar kewajibannya, yang disebut dengan biaya financial distress (Bae, 2012).…”

Section: Pendahuluanunclassified

Financial Distress: Studi pada Jumlah Dewan Komisaris, Karakteristik CEO, dan Leverage Perusahaan Manufaktur di Indonesia

Mahardini¹,

Framita²

2022

jamr

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This study aims to determine the impact of the board size of commissioners, CEO characteristics and leverage in the potential of financial distress in manufacturing companies listed on the Indonesia Stock Exchange for the 2016-2020 period. This research is done using quantitative methods. The research population of 192 companies and was taken samples by 72 companies using purposive sampling. The analysis technique used is panel data regression analysis. Based on the result of the research can be concluded that the measure of the board size of commissioners, gender CEO and leverage has a significant effect on the potential of financial distress. Whereas, CEO education does not have a significant effect on the potential of financial distress.

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Corporate Financial Distress: A Roadmap of the Academic Literature Concerning its Definition and Tools of Evaluation

Cited by 9 publications

References 151 publications

The Impact of CSR and Financial Distress on Financial Performance—Evidence from Chinese Listed Companies of the Manufacturing Industry

The Impact of CSR and Financial Distress on Financial Performance—Evidence from Chinese Listed Companies of the Manufacturing Industry

Empirical Evidence of Financial Distress in Indonesia

Financial Distress: Studi pada Jumlah Dewan Komisaris, Karakteristik CEO, dan Leverage Perusahaan Manufaktur di Indonesia

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