Impact of Life Cycle on Corporate Restructuring while in Financial Distress

Objective: The aim of this study is to investigate the impact of life cycle on corporate restructuring while in financial distress. Method: This study uses cluster analysis to classify data, and the Dickinson cash flow patterns (2011) to calculate life cycle as well as the Zmijewski modified pattern...

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Autores principales:	Dariush Damoori (Ph.D), Farahnaz Hozhabrie
Formato:	article
Lenguaje:	FA
Publicado:	Shahid Bahonar University of Kerman 2019
Materias:	corporate restructuring life cycle financial distress Accounting. Bookkeeping HF5601-5689
Acceso en línea:	https://doaj.org/article/f2f1f56deec64ee5af24298c556f5c98
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spelling	oai:doaj.org-article:f2f1f56deec64ee5af24298c556f5c982021-11-04T19:54:44ZImpact of Life Cycle on Corporate Restructuring while in Financial Distress2008-89142476-292X10.22103/jak.2019.11201.2614https://doaj.org/article/f2f1f56deec64ee5af24298c556f5c982019-07-01T00:00:00Zhttps://jak.uk.ac.ir/article_2273_e3b6de426fc2fe2285ba49b043b2f683.pdfhttps://doaj.org/toc/2008-8914https://doaj.org/toc/2476-292XObjective: The aim of this study is to investigate the impact of life cycle on corporate restructuring while in financial distress. Method: This study uses cluster analysis to classify data, and the Dickinson cash flow patterns (2011) to calculate life cycle as well as the Zmijewski modified pattern (2005) to determine financial distress. A sample of 100 companies listed in the Tehran Stock Exchange during 2010 to 2014 was surveyed. Result: The results indicated life cycle has positive and significant effect on corporate restructuring. Also, life cycle and corporate restructuring have positive and significant effects on the level of financial distress. Additionally, results showed that corporate life cycle has positive and significant effects on financial restructuring, operational restructuring and asset restructuring, whiles life cycle lacks significant effects on managerial restructuring Conclusion: The companies use restructuring during their life cycle, and distressed companies use more restructuring strategies in the last stages of their life cycle. Hence, as companies reach the final stages of their life cycle are more likely to use these strategies. We cannot comment on presence or absence of managerial changes during different stages of the life cycle.Dariush Damoori (Ph.D)Farahnaz HozhabrieShahid Bahonar University of Kermanarticlecorporate restructuringlife cyclefinancial distressAccounting. BookkeepingHF5601-5689FAمجله دانش حسابداری, Vol 10, Iss 2, Pp 113-135 (2019)
institution	DOAJ
collection	DOAJ
language	FA
topic	corporate restructuring life cycle financial distress Accounting. Bookkeeping HF5601-5689
spellingShingle	corporate restructuring life cycle financial distress Accounting. Bookkeeping HF5601-5689 Dariush Damoori (Ph.D) Farahnaz Hozhabrie Impact of Life Cycle on Corporate Restructuring while in Financial Distress
description	Objective: The aim of this study is to investigate the impact of life cycle on corporate restructuring while in financial distress. Method: This study uses cluster analysis to classify data, and the Dickinson cash flow patterns (2011) to calculate life cycle as well as the Zmijewski modified pattern (2005) to determine financial distress. A sample of 100 companies listed in the Tehran Stock Exchange during 2010 to 2014 was surveyed. Result: The results indicated life cycle has positive and significant effect on corporate restructuring. Also, life cycle and corporate restructuring have positive and significant effects on the level of financial distress. Additionally, results showed that corporate life cycle has positive and significant effects on financial restructuring, operational restructuring and asset restructuring, whiles life cycle lacks significant effects on managerial restructuring Conclusion: The companies use restructuring during their life cycle, and distressed companies use more restructuring strategies in the last stages of their life cycle. Hence, as companies reach the final stages of their life cycle are more likely to use these strategies. We cannot comment on presence or absence of managerial changes during different stages of the life cycle.
format	article
author	Dariush Damoori (Ph.D) Farahnaz Hozhabrie
author_facet	Dariush Damoori (Ph.D) Farahnaz Hozhabrie
author_sort	Dariush Damoori (Ph.D)
title	Impact of Life Cycle on Corporate Restructuring while in Financial Distress
title_short	Impact of Life Cycle on Corporate Restructuring while in Financial Distress
title_full	Impact of Life Cycle on Corporate Restructuring while in Financial Distress
title_fullStr	Impact of Life Cycle on Corporate Restructuring while in Financial Distress
title_full_unstemmed	Impact of Life Cycle on Corporate Restructuring while in Financial Distress
title_sort	impact of life cycle on corporate restructuring while in financial distress
publisher	Shahid Bahonar University of Kerman
publishDate	2019
url	https://doaj.org/article/f2f1f56deec64ee5af24298c556f5c98
work_keys_str_mv	AT dariushdamooriphd impactoflifecycleoncorporaterestructuringwhileinfinancialdistress AT farahnazhozhabrie impactoflifecycleoncorporaterestructuringwhileinfinancialdistress
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Impact of Life Cycle on Corporate Restructuring while in Financial Distress

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