Exploring the indirect costs of a firm in business rescue

Rosslyn-Smith, Wesley; Abreu, Nicole Varela Aguiar De; Pretorius, Marius

doi:10.1080/10291954.2019.1667647

Cited by 13 publications

(11 citation statements)

References 40 publications

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“…BR's success depends on contextual factors that include the competencies of BRPs and the regulation of their activities (CIPC, 2020;Naidoo et al, 2018;Pretorius, 2018). There is growing interest in the BR scholarship and BRP capacity to implement BR processes to benefit the economy (Bradstreet, 2011;CIPC, 2020;Pretorius, 2013Pretorius, , 2014Rosslyn-Smith et al, 2020;Schweizer & Nienhaus, 2017). Despite this increase, discussions about the business rescue and the business turnaround constructs lead to the need to categorize the field's practical and theoretical basis (Ghazzawi, 2017;Pretorius, 2013).…”

Section: Results Of Literature Review and Evident Gapsmentioning

confidence: 99%

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The State of Business Rescue Practitioners Professional Accreditation

Ayaya

Pretorius

2021

Sage Open

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Business rescue practitioners (BRPs) are subject to many allegations of abuse and, therefore, professional accreditation has become a pre-requisite. The Companies and Intellectual Property Commission (CIPC) licensing is linked to multiple professional bodies’ knowledge and practices but is not generic. This study was guided by one key question: What is BRPs’ accreditation’s current state in a multiple professional body occupation? We used data mapped to scholarly and documented policy sources, categorized results from extensive reading, and integrated critical constructs (after the deconstruction of concepts) to yield a conceptual framework to develop a comprehensive understanding of professional accreditation. The results confirm the existence of a legal framework and institutional arrangements that are not coherently applied because of the absence of a professional accreditation framework (PAF). The proposed conceptual framework captures the concepts of the business rescue domain, professionalism, competency, accreditation, and definition of key terms to provide an interpretive approach to the BRPs’ accreditation reality resulting in a PAF based on the integration of BRP tasks and services and accreditation, competency, and professionalism.

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Section: Results Of Literature Review and Evident Gapsmentioning

confidence: 99%

“…Rosslyn-Smith et al (2020) assessed indirect costs of business rescue and contend that the BR process is a multi-dimensional concept. Business rescue covers positive, protective, corrective, and punitive roles.…”

Section: Results Of Literature Review and Evident Gapsmentioning

confidence: 99%

The State of Business Rescue Practitioners Professional Accreditation

Ayaya

Pretorius

2021

Sage Open

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“…It is well documented that the cures proposed in the regime are time-consuming and expensive, which diminishes the efficacy of the legislation. Reviewed studies (Rosslyn-Smith, De Abreu and Pretorius, 2020;Kahamba, 2018;Rosslyn-Smith and Pretorius, 2018;Levenstein, 2015) and other studies (see, for instance, Francis and Desai, 2005) proffered that taking part in business rescue is quite expensive since it is associated with indirect and direct costs during a time when the corporate holds restricted resources. Direct costs are paid as expenses, e.g., legal fees, and indirect costs are not disbursed as expenses.…”

Section: Direct and Indirect Costsmentioning

confidence: 99%

“…Pretorius (2018) opined that business rescue is more concerned with grabbing power away from current managers as they have generated the problematic situation. A variation in leadership can have a progressive effect on the rescue of the firm (Rosslyn-Smith, De Abreu and Pretorius, 2020;Naidoo, Patel and Padia, 2018;Smith and Graves, 2005). Morever, Levenstein (2015) posited that the trial of directors and officers should be prohibited during the business rescue process since help from the directors and officers can be needed by the BRP in an effort reorganise the firm.…”

Section: Management Insubordinationmentioning

confidence: 99%

South African business rescue regime

Matenda

Sibanda

Nomlala

et al. 2023

IJRBS

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In South Africa, the devastating effects of the COVID-19 plague forced several corporates to resort to business rescue proceedings to guarantee the continuance of their operations. However, the low success rates associated with the current South African business rescue regime are a thing of concern among policymakers. In this article, we conduct a systematic literature review highlighting the shortcomings of the current South African business rescue mechanism and recommendations that can be adopted to improve its success rates. The study then proposes a broad agenda for future research. We discover that even though the South African business rescue mechanism is an economically significant, promising framework that gives companies time and space to find solutions for their problems, it is associated with numerous shortcomings that lessen its success rates. Also, the study results indicate that the regime can be improved in more than a few dimensions to augment its success rates. Further, the review divulges that implementing the current South African business rescue framework has some uncharted areas that need to be investigated. As a recommendation, policymakers should improve the business rescue regime to increase its success rates.

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“…Figure 13 shows the permanent-magnet synchronous generator configuration. This configuration is generally used in offshore wind turbines [71]. Its operating principle is like the synchronous generators, in terms of the dependence of the speed on the energy consumption of the EPS.…”

Section: Permanent-magnet Synchronous Generatormentioning

confidence: 99%

Comprehensive Analysis of Microgrids Configurations and Topologies

Candelo-Becerra

Santos

2022

Sustainability

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Microgrids have been proposed as a solution to the growing deterioration of traditional electrical power systems and the energy transition towards renewable sources. One of the most important aspects of the efficient operation of a microgrid is its topology, that is, how the components are connected. Some papers have studied microgrid topologies; however, these studies do not perform an exhaustive analysis of the types of topologies, their applications, characteristics, or technical advantages and disadvantages. The contribution of this paper is the integration of the most important functional properties of microgrid topologies in terms of reliability, efficiency, structure, costs, and control methods. The study analyzes 21 topologies divided into six classifications with their respective sub-classifications. The analysis was based on the characteristics of the current (AC or DC), the control mechanisms, the transition between the operating modes, and the operating costs. As a result of the evaluation, it was evidenced that SST-based completely isolated coupled AC topologies, completely isolated two-stage AC decoupled, and multiple microgrids show the best performances. In contrast, the use of two-stage and three-stage partially isolated AC decoupled topologies is not recommended because of their high operating cost and low efficiency and reliability.

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Exploring the indirect costs of a firm in business rescue

Cited by 13 publications

References 40 publications

The State of Business Rescue Practitioners Professional Accreditation

The State of Business Rescue Practitioners Professional Accreditation

South African business rescue regime

Comprehensive Analysis of Microgrids Configurations and Topologies

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