S-Space College of Social Sciences (사회과학대학) Institute for Social Development and Policy Research (사회발전연구소) Development and Society Development and Society Vol.34 No.1/2 (2005)
Rescuing Business : Reorganizing Bankrupt Firms as Organizational Processes
- Park, Chan-Ung
- Issue Date
- Institute for Social Development and Policy Research, Center for Social Sciences, Seoul National University
- Development and Society, Vol.34 No.1, pp. 49-73
- In the present paper, I examined the processes of corporate bankruptcy proceedings of the listed companies on the Korea Stock Exchange. I collected a comprehensive list of all listed companies that went bankrupt since 1990. The main findings are as follows: first, the economic crisis resulted in a number of large firms going bankrupt; second, the duration varies substantially across the firms that survived; and finally, a set of organizational characteristics such as sales, assets, firm age at the time of bankruptcy, and, most importantly, when a firm filed for bankruptcy influenced the duration of bankruptcy proceedings. These findings illustrate the impacts of key organizational factors and institutional environments on the organizational processes of post-bankruptcy proceedings toward going back to business.
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