Corporate Crisis and Sustainable Reorganization: Evidence from Bankrupt Austrian SMEs

Abstract

Bankruptcy and failure continue to affect small and medium-sized enterprises (SMEs) worldwide. Since bankruptcies are costly and disruptive, it seems useful to identify factors and resources that are essential for SMEs to overcome a crisis and to reorganize in a way that leads to a sustainable and lasting renewal. By drawing on longitudinal data, we identified essential elements of sustainable reorganization of bankrupt SMEs in Austria that ensure long-term survival and competitiveness. The results of our study show that the pivotal factor in turnaround is repositioning, which is characterized by a unique selling proposition combined with some kind of innovation and change, and integration into networks.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 83 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.