The “Cinderella” Effect in Business Groups: Choosing Which Subsidiary is the Princess

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F25%3A43926827" target="_blank" >RIV/62156489:43110/25:43926827 - isvavai.cz</a>

Výsledek na webu

<a href="https://doi.org/10.1016/j.irfa.2025.104649" target="_blank" >https://doi.org/10.1016/j.irfa.2025.104649</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.irfa.2025.104649" target="_blank" >10.1016/j.irfa.2025.104649</a>

Jazyk výsledku

angličtina

Název v původním jazyce

The “Cinderella” Effect in Business Groups: Choosing Which Subsidiary is the Princess

Popis výsledku v původním jazyce

This study examines the nature of financial distress for firms within business groups distributed across twenty-five European countries from 2000 to 2018. We show that business group membership and a firm&apos;s importance within the group explain both the incidence and resolution of financial distress. We find that critical subsidiaries have a negligible chance of default and bankruptcy. Less critical firms, however, are more likely to default and liquidate. It suggests that the future resolution of financial distress could be decided during the group formation and the subsidiary&apos;s positioning. We also show the persistent effect of national legal regimes.

Název v anglickém jazyce

The “Cinderella” Effect in Business Groups: Choosing Which Subsidiary is the Princess

Popis výsledku anglicky

This study examines the nature of financial distress for firms within business groups distributed across twenty-five European countries from 2000 to 2018. We show that business group membership and a firm&apos;s importance within the group explain both the incidence and resolution of financial distress. We find that critical subsidiaries have a negligible chance of default and bankruptcy. Less critical firms, however, are more likely to default and liquidate. It suggests that the future resolution of financial distress could be decided during the group formation and the subsidiary&apos;s positioning. We also show the persistent effect of national legal regimes.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50206 - Finance

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Review of Financial Analysis

ISSN

1057-5219

e-ISSN

1873-8079

Svazek periodika

107

Číslo periodika v rámci svazku

November

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

14

Strana od-do

104649

Kód UT WoS článku

001582962400001

EID výsledku v databázi Scopus

2-s2.0-105016693480