Stefan Mayr, Christine Mitter, Andrea Aichmayr,
"Corporate Crisis and Sustainable Reorganization: Evidence from Bankrupt Austrian SMEs"
, in Journal of Small Business Management, Vol. 54, Nummer 1, Seite(n) 108-127, 2017, ISSN: 1540-627X
Corporate Crisis and Sustainable Reorganization: Evidence from Bankrupt Austrian SMEs
Sprache des Titels:
Bankruptcy and failure continue to affect small and medium-sized enterprises (SMEs) world-
wide. 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 sustain-
able 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 com-
petitiveness. 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.