Vandezande, Leen; Meeus, Leonardo; Belmans, Ronnie (2007)
This paper analyses the duration of the time to exit of distressed firms, differentiating between court driven exits (mainly bankruptcies) and voluntary liquidations. It examines how long firms survive after initial signs of economic distress. The study is conducted on an extensive dataset of 5,233 Belgian distress-related exits of mature firms, the majority being privately held. The results highlight that slack resources have an opposite effect on the timing of court driven exits and voluntary liquidations. On the one hand, high levels of available and potential slack increase the time to court driven exit, as they allow distressed firms to postpone an impending court driven exit. On the other hand, high available slack resources shorten the time to voluntary liquidation, since they make voluntary liquidation easier. Further, a high level of stakeholder dependence increases the time to exit after distress, whether the firm exits through voluntary liquidation or through a court decided exit. This is explained by the fact that stakeholder dependence increases the complexity of the exit decision and the exit procedure.
Eager to test the hypothesis that the crisis of 2008 exerted significant impact on the way companies manage their IT, we invited a selections of high-profile companies to participate in a study. We targeted companies that were seriously hit by the crisis but nevertheless were displaying best practices in managing their IT against this background. We interviewed eighteen CIOs and ten of the CFOs of those same companies about the way they were dealing with IT management in the current crisis.
Verhaegen, K.; Meeus, Leonardo; Delvaux, Bram; Belmans, Ronnie (2006)
People's self-regulatory focus may determine the effectiveness of stop-smoking campaigns. An experiment with 226 young smokers investigated the persuasiveness of different emotional appeals for different self-regulatory foci. A congruency effect emerges for attitude toward the advertisement and behavioral intentions: Young smokers with a promotion focus are more persuaded by sadness–joy than fear–relief campaigns, and the opposite is true for those with a prevention focus. As predicted by the regulatory relevancy principle, ad involvement mediates this effect.
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