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Routledge Companion to Turnaround Management and Bankruptcy

Professors Jan Adriaanse and Jean-Pierre van der Rest have completed an edited volume on Turnaround Management and Bankruptcy which was recently published by Routledge. A book written by leading experts in the field of business, law and finance, this edited volume brings together the latest thoughts and developments on turnaround management and business rescue from an academic, management, judiciary and turnaround/insolvency practitioner perspective.

The Companion presents different viewpoints on turnarounds and business rescue. Presenting a state-of-the-art review of failure research, such as on bankruptcy prediction, causes of decline, or distressed asset valuation, it also presents the latest insights from turnaround management research as well as a contemporary insight into law debates on insolvency legislation reform, cross-border judicial issues and insolvency policy effectiveness. In this way, the volume presents a modern, interdisciplinary and scholarly overview of the latest insights, issues and debates in turnaround management and business rescue, from an international perspective.

This Routledge Companion to aims at a wider audience interested in turnarounds and failure, such as faculty and students in the fields of business, strategic management, marketing, economics, law, accountancy, finance, but also at judges, insolvency practitioners, lawyers, accountants and turnaround professionals, as well as the EU and government officials, staff of trade unions and employer’s associations.


In preparing the Companion we are grateful for the contributions of many scholars and practitioners in the field of Turnaround Management & Bankruptcy:

Part I: Overview

1. History of Turnaround Management and Business Rescue (Donald Bibeault, Turnaround Management Association)

2.Turnaround Management and the Legal Regime of Default and Insolvency in Western History (late Middle Ages-Present Day) (Dave De ruysscher, Vrije Universiteit Brussel)

PART II Business Failure

3. Causes of Decline (William McKinley, Southern Illinois University at Carbondale / University of Zurich)

4. Predicting Business Failure (Nico Dewaelheyns, Sofie De Prijcker & Karen Van Den Heuvel, University of Leuven)

5. Why Must Companies Reorganize and Why do they Wait so Long? (Kathryn Harrigan, Columbia Business School, Columbia University)

6. A Theoretical Framework for Restructuring (Joost De Haas, INSEAD & Pieter Klapwijk, Nyenrode Business University)

7. Distressed Asset Valuation (Jan Vis, Rotterdam School of Management (RSM), Erasmus University Rotterdam)

PART III Turnaround Management

8. Turnaround Strategies (Donald Bibeault, TMA)

9. Turnaround Management in the Context of the Organizational Life Cycle (Gianpaolo Abatecola, Vincenzo Uli, University of Rome – Tor Vergata)

10. Human Considerations in Turnaround Management: a practitioner’s view (Yuval Bar-Or, John Hopkins Carey Business School, University of Pennsylvania)

11. The Executioner’s Dilemma: explaining role stress by ethical conflict and social embeddedness among those that carry out downsizing (Rick Aalbers & Philippos Philippou, Radboud University)

PART IV Legal Issues and Ethics

12. Why Rescue? A Critical Analysis of the Current Approach to Corporate Rescue (Paul Omar & David Burdette, Nottingham Trent University)

13. Pre-Insolvency Arrangements: a comparative perspective (Alexandra Kastrinou, Nottingham Trent University & Lézelle Jacobs, University of the Free State)

14. On the Future of European Business Rescue (Gert-Jan Boon, Leiden University & Stephan Madaus, Martin-Luther-Universität Halle-Wittenberg

15. Effectiveness of Preventive Insolvency Frameworks in the EU (Mihaela Carpus Carcea, Daria Ciriaci, Carlos Cuerpo, Dimitri Lorenzani & Peter Pontuch, European Commission)

16. The Ethics of State Bankruptcy (Jukka Kilpi, University of Helsinki)

PART V Industry Perspectives

17.Turnaround Management in Knowledge Intensive Industries (Vincent Barker, University of Kansas &Achim Schmitt, Ecole Hôtelière de Lausanne (EHL))

18. Small Businesses and Turnarounds (Jörg Freiling, University of Bremen & Hartmut Meyer, Fachhochschule für Ökonomie und Management)

19. Restaurant Failure: an industry perspective (H.G. Parsa, Denver University & Jean-Pierre van der Rest, Leiden University)

PART VI Case & Game

20. General Motors Case (Jan Adriaanse & Jean-Pierre van der Rest, Leiden University)

21. Holiday Hotel Group Serious Game (Jan Adriaanse, Leiden University. Arnoud Griffioen, Hotelschool The Hague & Jean-Pierre van der Rest, Leiden University)


Epilogue: A Synopsis of the Present and Future of Turnaround Management and Bankruptcy (Tim Verdoes, Jean-Pierre van der Rest, Jan Adriaanse, Leiden University)