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Despite the burgeoning research on business failure in industrial markets, not much has been conducted on the role played by marketing analytics in mitigating such failure in the post-pandemic period. Against this backdrop, this study was aimed at investigating the antecedents of marketing analytics success (MAS) and its overall effects on strategic business value and profitability. Drawing on quality-dominant logic through the dynamic capability lens, this study yielded a model that, on the basis of data, model, and deployment quality, explains the achievement of MAS and the avoidance of business failure. This study, the data for which were gathered in Australia from 314 sample elements, shows that MAS significantly contributes to strategic business value and profitability. Such findings present a theoretically rigorous and practically relevant framework of MAS capable of mitigating the causes of business failure by harnessing analytics insights.

The growth and failure of small and medium enterprises has been a topic of discussions world over among policymakers and researchers. This study was guided by the following objectives: to examine the contributions of small medium enterprises (SMEs), to determine the challenges affecting small medium enterprises, to examine how financial inclusiveness supports the growth of small medium enterprises, and to establish the relationship between financial inclusion and growth of small medium enterprises. The study used a cross-sectional research design. Descriptive design was used and supplemented by inferential statistics. Correlation and regression analysis were adopted. The study revealed that financial inclusion is significant in supporting SME growth. The study further also revealed that the cost of acquiring and servicing financial services is high; there is also difficulty in using some of the financial services, and the way financial providers treat financial users, some lacked some degree of respect and dignity. The study recommends that financial providers should continue sensitizing the public on the available financial services beyond credit services, which are common and known. Digital financial service providers should encourage their clientele to use digitalized financial services which are cheap, secure, and risk averse. The cost of capital should also be reduced to encourage borrowing while SMEs should innovatively produce goods that can be competitive at both domestic and international markets.

En la actualidad las empresas se desarrollan en mercados cada vez más competitivos, que las obliga a mantenerse en un mejoramiento continuo con la finalidad de prevenir posibles quiebras que terminen con la salida de la empresa del mercado. En este contexto se considera relevante analizar la situación económica de la empresa que la pueda llevar a enfrentar una situación de quiebra siendo este el tema de la presente investigación, para lo cual se aplicarán los modelos Altman Z-Score y Springate. Debido a su trayectoria y de acuerdo a la literatura revisada estos métodos se aplicaron en distintas economías a nivel mundial, por ello se pretende demostrar su validez y aplicación en el mercado peruano.

How can a family business reduce environmental uncertainty and dependence by developing its business model, changing the logic of creating and capturing value through its activities? We address this question by exploring the case of Cimber, a Denmark-based family-owned airline, which has developed different business models since its establishment in 1950. We build on resource dependence theory to investigate the actions that Cimber took in this process. We find an important role of the family in balancing internal and external influences, in shaping the scope and complexity of the business model, and in creating specific path dependencies in this process.

[EN] Purpose The purpose of this paper is to evaluate the contribution of location (geographical concentration) and firm structure (age and subsector) to the risk of business failure. Design/methodology/approach The Markov s regression analysis was made for a sample of over 11,700 Spanish textile-clothing firms. Findings The results obtained from the analysis suggest that the risk of business failure is increased by some risk factors relative to the structural characteristics of the firms (younger firms and specialization in low-tech activities), and under determined locational circumstances. Research limitations/implications Our conclusions have been obtained starting from a sample of manufacturing firms in the Spanish textile sector. An extension of this work would be to test its robustness in other countries (for example, Italy or Portugal) and/or for other industries such as footwear and furniture. Practical implications Explaining the different levels of risk business failure shown by firms in an industry. Originality/value Work that has studied the failure of the textile firms within this location- subsector relationship is still scarce. Given that the viability of clusters and of European textile have been put into question, our work evidences that the risk of failure related to the firm s location and structure needs to be tested jointly, so that the way in which the firm addresses environmental changes can be appraised., This investigation was supported by the Research Project GV2011-025 of the Generalitat Valenciana (Spain).

© 2017 Australasian Accounting Business and Finance Journal and Authors. This study investigates the narratives risk disclosures of the four British financial institutions that were adversely affected during the 2008 banking crisis. This investigation uses content analysis with the aid of the Concordance software to explore the risk disclosure of these companies for period 1998-2008.Risk disclosures in the Business Review sections of the annual reports of the banks were analysed into their historic and forward looking contents, and current firm performance was measured with respect to earnings per share and dividend while future performance was measured by growth in EPS and positive time lag in EPS. Consistent with its predictions, the study found significant negative relationship between extent of historic narrative disclosures and current and future firm performance, and a significant positive relationship between forward looking narrative risk disclosures and both current and future firm performance. Additional analysis shows that optimistic and pessimistic narrative risk disclosures are not significant in explaining current and future firm performance for these firms. Findings from this study are important for users of the financial statements and regulator because they highlight opportunity to detect warning signals for companies at risk of collapse. The study adds to the growing number of empirical investigations that provide alternative approach to understanding business failures.

The monthly index of business failures measures the number of enterprises for which a court-ordered reorganisation has been initiated. While the indicator is naturally influenced by current economic trends , it also depends on past business-creation trends. The vector error-correction model (VECM) described here makes it possible to distinguish between these two effects. We show that the increase in the number of business failures in 2008 was mainly due to a demographic effect, while the 2009 increase was the result of highly negative economic conditions. The persistence of a large number of failures in the first half of 2010 may be due to the expiration of stimulus measures. We also examine the effects of the introduction of the “ freelance entrepreneur ” (auto-entrepreneur) status in 2009., Les défaillances d’entreprises mesurent chaque mois le nombre d’entreprises en redressement judiciaire. Si cette statistique est naturellement influencée par les évolutions de la conjoncture économique, elle dépend également des évolutions passées des créations d’entreprises. Le modèle vectoriel à correction d’erreur proposé dans cet article permet de faire la part entre ces deux effets. Il montre que l’augmentation des défaillances en 2008 résulte principalement d’un effet démographique et, en 2009, d’une conjoncture très dégradée. Le nombre encore élevé de défaillances observé au premier semestre 2010 pourrait être lié à la fin des mesures de relance. Les effets inhérents à la création du statut d’auto-entrepreneur en 2009 sont également étudiés., Dolignon Cathy. Facteurs explicatifs des évolutions récentes des défaillances d’entreprises : une analyse économétrique. In: Économie & prévision, n°197-198, 2011-1-2. pp. 161-167.

D.Com. (Business Management) Please refer to full text to view abstract

M.A. The rate of change in the business arena is continuously increasing and companies are constantly seeking innovative products, services and knowledge-enabled processes to enable them to compete effectively against each other. IT plays an important role as an enabler of these processes. The problem is that the implementations of IT projects, commissioned to support and enable the business functions, often fail. The high rate of failing IT projects is a real and relevant concern of the business environment. Companies are wasting a significant portion of their resources on failed IT projects. More than often, IT projects fail to realize their intended purpose of reducing operating costs, increasing worker productivity, increasing cycle times and eventually increasing companies' market share. Management of these companies continues to complain about costly IT expenditure returning only a portion of the expected return on investment. The phenomenon of IT project failure has been in existence for many years and has in more recent years become a relevant topic calling for investigation and further study. Accordingly, this document is the culmination of the results of a study of the reasons why IT projects fail and offers possible measures to be taken to counter the failure of IT projects. The most significant and relevant reasons for IT project failure are listed in this document. These reasons span from the internal project environment through to the external project environment. Aligning these reasons with the environment of any anticiPated IT project will establish a base from which a successful IT project could be initiated. It is hoped that this document will serve as valuable input to the decision makers in the IT and business arenas that need to be made aware of the reasons for IT project failure in order for them to better manage their IT projects.

M.Ing. Sunter (1999:13) states "Unemployment is now the scourge of virtually every single nation." Sunter believes that unemployment or the creation of new jobs will be the responsibility of small businesses. If one however analyses the survival of new business ventures, failure is not the exception but the rule. According to literature 52% of all new business ventures are dissolved within the first four years of their existence and 63% within 6 years. Various publications on business incubators state that new business ventures that were incubated by business incubators demonstrated a success rate that is as high or higher than the failure rate of non-incubated new business ventures. A typical success rate of approximately 86% is quoted as the norm for these incubated ventures. The success rate can be attributed to the support provided by the incubators. The support and services provided by incubators consist typically of a range of products but the distinguishing attribute or feature is the support programme developed and tailored to meet the specific requirements of each individual organisation that joined the incubator. To ensure that jobs are created in South Africa it seems that incubators should be in a position to contribute much. The results of an evaluation of the achievements of seven of the highly visible incubators in South Africa, indicate that the flirtation with incubators resulted in very limited success. None of the seven examples were found to be very successful, but not all for the same reason. The aim of this dissertation is to identify some of the attributes that a high-technology incubator should possess to ensure success. The approach adopted was to: Define what a high-technology business incubator is. Identify the typical life-cycle of new ventures. Determine why new ventures fail. Determine the critical success factors of new ventures Determine the reasons for failure of South African high technology business ventures and incubators. Then based on the results of the above define some of the attributes a South African incubator should possess. The conclusion is that the attributes, excluding flexible lease space, shared business services and networking to the know-how network (technical) of the South African incubators are well developed. The following attributes were found lacking and should be fully developed: Education, training and information programmes; Networking to debt and equity capital and networking in general and Counselling and mentoring support. These attributes are those that will enable an incubator to develop and tailor support programmes to meet the specific requirements of individual firms. The South African environment is identified as being detrimental to the development of small new ventures and it was recommended that it should form the subject of further research.

An unprecedented amount of aid was extended by the Treasury, Fed and FDIC to companies, agencies and individuals. This aid was necessary and, in many cases, will return a profit to taxpayers.

This paper examines the effects of credit availability on small firm survivability over the period 2004 to 2008 for non-publicly traded small enterprises. Using data from the 2003 Survey of Small Business Finances, we develop failure prediction models for a sample of small firms that were confirmed to have been in business as of December 2003, with particular attention to the impact of credit constraints. We find that credit constrained firms were significantly more likely to go out of business than non constrained firms. Moreover, credit constraint and credit access variables appear to be among the most important factors predicting which small U.S. firms went out of business during the 2004-2008 period even though an extensive set of firm, owner, and market characteristics were also included as explanatory factors.

How does the belief that policymakers will bail out investors in the event of a crisis affect the allocation of resources and the stability of the financial system? I study this question in a model of financial intermediation with limited commitment. When a crisis occurs, the efficient policy response is to use public resources to augment the private consumption of those investors facing losses. The anticipation of such a “bailout” distorts ex ante incentives, leading intermediaries to choose arrangements with excessive illiquidity and thereby increasing financial fragility. Prohibiting bailouts is not necessarily desirable, however: it induces intermediaries to become too liquid from a social point of view and may, in addition, leave the economy more susceptible to a crisis. A policy of taxing short-term liabilities, in contrast, can correct the incentive problem while improving financial stability.

This thesis critically explores the regulation of the insolvency of essential services and the public interest through an examination of the common law and legislative responses in Australia, the United Kingdom and the United States. Drawing on understandings of the public interest gained from its analysis the thesis proposes a model of the public interest that may be used to justify representation of non-creditor interests within insolvency proceedings of essential services. The model also identifies non-creditor public interest considerations that extend beyond continuity of supply. The thesis then undertakes case studies of the regulation of insolvency within the Australian electricity industry and Melbourne's public transport industry to examine how effectively public interest issues have been addressed and how these are balanced against the interests of the firm and its creditors. The thesis argues that a fundamental problem of the regulation of insolvent essential services is balancing the general public's interest in the fate of the insolvent firm with the interests of others stakeholders, particularly creditors. The thesis demonstrates there is a great deal of inconsistency of response to this issue both within and between the jurisdictions under consideration. Focussing on the public interest in the continuity of supply, the United Kingdom has enacted ad hoc insolvency procedures which are initiated by the state and oust creditor control mainly in relation to the monopoly sector of various essential services. A different approach in the United States has meant public interest considerations are built into its insolvency law through a combination of legislative prescription, judicial interpretation of the Bankruptcy Code and a limited willingness to grant non-creditor representation rights in insolvency proceedings of essential services. The thesis argues that the integration model of the United States allows an appropriate balance to be struck between the interests of the firm and its creditors and the broader public interest when regulating the insolvency of essential services. In contrast Australia has not enacted ad hoc insolvency procedures or expressly integrated the public interest within its insolvency law. The case study of the Australian electricity industry shows, however, that the public interest in the continuity of supply is managed by allowing creditors' rights to be affected radically by utilities regulation such a state step-in rights and retailer of last regulation. The thesis demonstrates the fragmented and inconsistent nature of these provisions. The case study of Melbourne's train and tram industry and the examination of South Australia's privatisation of its electricity assets by way of lease show the ways in which private contracting rather than utilities regulation can manage public interest issues. The thesis concludes that while the public's interest in the continuity of supply of essential services in Australia is generally satisfactorily dealt with under current arrangements, what is less clear is whether public interest issues beyond continuity of supply will be given sufficient weight in insolvency proceedings, particularly in the context of a reorganising firm. The thesis argues it is within this area that there is space for integrating public interest considerations within Australia's insolvency law by expressly requiring the court to consider the public interest in such proceedings. Incorporating public interest considerations that recognise non-creditor stakeholder interests into Australian insolvency law requires theoretical justification. The thesis argues there are sound theoretical arguments for expanding insolvency's law role to accommodate broader stakeholder interests in the context of the insolvency of essential services and that the model of the public interest proposed by the thesis may be used as a basis for a court to grant representation rights to non-creditor interests within insolvency proceedings of essential services in Australia.

PurposeThe purpose of this paper is to present a model that studies the impact of a tightening monetary policy on banking failure in a developing country.Design/methodology/approachThe interest rate on treasury bills is included in the model to measure monetary policy. Since the model considers developing countries with low‐income level, the paper assumes that a secondary market does not exist.FindingsThe model shows that, despite treasury bills constituting an alternative source of profit for banks in developing countries, a tightening monetary policy increases the probability of banking failure. In addition, the model shows that efficiency level explains the asymmetric effect of monetary policy on the profit of the banks.Practical implicationsThe policy implication of the results of the paper is that the central bank should take into account the adverse effect of a tightening monetary policy on banking failure, when planning policy decisions.Originality/valueThe paper offers insights into the linkage between monetary policy and banking failure in developing countries.

The construction industry has unique characteristics that sharply distinguish it from other sectors of the economy. It is fragmented, very sensitive to the economic cycles and political environment, and has a significantly high rate of business failure. Business failure, collapse and bankruptcy are common terms in the industry due to the many risks inherited in how the industry operates. Throughout the world, the relative ease of entry gives rise to a large number of contracting firms competing fiercely in the market exposing many of them to business failure, Palestine is no exception. The objectives of this paper are to report on a research study which aims at exploring the causes of contractor's business failure in Palestine, and investigating their severity from the contractor's point of view. The study's results shows that the main causes of business failure are delay in collecting debt from clients (donors), border closure, heavy dependence on bank loans and payment of high interest on these loans, lack of capital, absence of industry regulations, low profit margin due to high competition, awarding contracts by client to the lowest bidder, and lack of experience in contract management. Based on these findings, recommendations to the Palestinian National Authority (PNA) and local contractors are presented in this paper.

Voluntary liquidations offer an interesting example of efficient and orderly asset reallocation. This study examines why firms liquidate, and what happens to their assets. One important determinant of voluntary liquidation concerns asset performance and marketability: liquidating firms have low asset productivity, low market-to-book ratios, and high liquidity. Another important determinant concerns management having the proper incentives to liquidate: high inside ownership, takeover pressure, and low debt levels. Financial factors thus establish whether a liquidation is profitable, while organizational factors determine whether management chooses to liquidate. The study also finds that many liquidating firm assets are sold to firms operating in the same industry. Returns to liquidating firm shareholders are significantly greater here, rather than when they are sold to firms in a different industry. Moreover, intra-industry liquidations tend to occur in superior performing industries when industry performance is at a peak.

During the 1980s, the New England economy prospered relative to the nation as a whole, with lower unemployment rates, more rapidly rising real estate prices, and lower rates of business failures. As the economic tide turned against New England at the end of the decade, the rate of business failures soared, in absolute terms as well as relative to nationwide statistics. This recent wave of business failures appears to have been far in excess of that attributable to the decline in New England economic activity. Moreoever, it has undesirable implications for the regional economy and can be expected to slow economic recovery in the area. The authors explore several explanations for the increase in business failures, including employment losses, industry mix effects, and credit availability. Their findings suggest that difficulties in the banking sector have contributed significantly to the very high rate of business failures in New England.