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Peer reviewedD'Aveni, Richard – Organization Science, 1990
Suggests that bankruptcy occurs when creditors withdraw their support from a firm's top management team. Five characteristics measuring the relative status of top teams tested on a sample of 57 large bankrupt firms and 57 matched firms revealed that membership in political elites and board connections were negatively associated with bankruptcy.…
Descriptors: Financial Problems, Institutional Survival, Management Teams, Organizational Change
