A resource-based analysis of bankruptcy law, SMEs and corporate recovery

Cook, Gary A. S. and Pandit, Naresh R. and Milman, David (2012) A resource-based analysis of bankruptcy law, SMEs and corporate recovery. International Small Business Journal, 30 (3). pp. 275-293. ISSN 0266-2426

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Abstract

The UK Company Voluntary Arrangement (CVA) is an early example of a bankruptcy regime designed to aid the rescue of financially distressed SMEs. Its efficacy hinges on its application to aid only viable companies with liquidation as the preferred option for companies that are not viable. This article proposes the resource-based view as a theoretical means to assess the viability of bankrupt SMEs. Seven hypotheses are tested and provide support for the central proposition, that a company which has resource strength, but is pushed into bankruptcy by temporary factors, is more likely to succeed in a CVA. The article concludes that the resource-based view is useful for analysing the viability of bankrupt companies and that well-designed bankruptcy law can promote SMEs and entrepreneurship.

Item Type: Journal Article
Journal or Publication Title: International Small Business Journal
Uncontrolled Keywords: /dk/atira/pure/subjectarea/asjc/1400/1403
Subjects:
Departments: Faculty of Arts & Social Sciences > Law School
ID Code: 63315
Deposited By: ep_importer_pure
Deposited On: 11 Apr 2013 10:34
Refereed?: Yes
Published?: Published
Last Modified: 29 Jan 2020 07:35
URI: https://eprints.lancs.ac.uk/id/eprint/63315

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