Reasons for the failure of SME external takeovers

被引：5

作者：

Boussaguet, Sonia ^{[1
]}

De Freyman, Julien ^{[2
]}

机构：

[1] NEOMA Business Sch, 59 Rue Pierre Taittinger,BP 302, F-51061 Reims, France

[2] Grp ESC Troyes, 217 Ave Pierre Brossolette, F-10002 Troyes, France

来源：

REVUE INTERNATIONALE PME | 2018年 / 31卷 / 3-4期

关键词：

External takeover; SME; Failure; Causes of business failure; Bankruptcy case;

D O I：

10.7202/1054419ar

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article studies failed SME external takeovers. Responding to Argenti's (1976) call, it explores the causes of Business failure that are specific to the context of takeovers. We present and analyse six bankruptcy cases, based on an analytical grid proposed by Malecot (1981). Our findings confirm that bankruptcy proceedings indeed have three principal causes: the market, debt, and management. However, we also reveal a fourth cause, "organisational culture". The introduction of this new cause provides a less mechanical and richer perspective on business failure in such contexts. In addition, it invites us to discuss the danger relative to the "fit" between the individual and the organisation, a feature that is marginalised (or even ignored) as a cause of difficulties.

引用

页码：67 / 93

页数：27