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This paper explores predicting early signals of business failure using modern models for bankruptcy prediction. It reviews how continuous operations enhance market value, strengthening competitiveness and reputation among stakeholders. The study involves medium and large companies in the Montenegrin market from 2015 to 2020, comprising 30 bankrupt and 70 financially stable firms. Logistic regression is also employed to create a logit model for early detection of bankruptcy signals in companies. This research establishes the empirical validity of modern models in predicting business failure in the Montenegrin market, particularly through logistic regression. Significant indicators, such as the Degree of Indebtedness (DI) and turnover ratio of business assets (TR), exhibit strong predictive power with a p-value less than 0.001 according to Likelihood ratio tests. The paper underscores the potential benefits of bankruptcy prediction for both internal and external stakeholders, especially investors, in enhancing the competitiveness of Montenegro's large and medium-sized companies. Notably, the research contributes by bridging the gap between theory and practice in Montenegro, as bankruptcy prediction models have not been extensively applied in the market. The authors suggest the possible applicability of the created logit model to neighboring countries with similar economic development levels. In that sense, the concept of predicting bankruptcy is positioned as integral to corporate strategy, impacting the overall reduction of bankruptcies. The paper concludes by highlighting its role as a foundation for future research, addressing the literature gap in the application of bankruptcy prediction models in Montenegro. The created logit model, tailored to the specific needs of Montenegrin companies, is presented as an original contribution, emphasizing its potential to strengthen the competitiveness of companies in the market. [ABSTRACT FROM AUTHOR]

Several jurisdictions in the Commonwealth Caribbean have undertaken reform and modernisation of their insolvency legislation. The dominant model for the new enactments has been Canada's federal statute, the Bankruptcy and Insolvency Act, RSC 1985, which has already been transplanted into six jurisdictions of the region. The transplantation has introduced lexicon which, while part of the vocabulary of the old statutes for personal insolvency, has, traditionally, been unfamiliar to the region's corporate insolvency law, hence the phrase, '"old–new" lexicon', in the title. This article examines the meanings of some of this lexicon, particularly 'bankruptcy' and cognate terms, including 'acts of bankruptcy'. The examination extends to the term 'receiving order', operationally related to bankruptcy. Legal interpretation of the terms is enriched in the discussion by insights from linguistics. While showing that the importation of these terms into the region's corporate insolvency law is semantically problematic, the article elucidates the signification of the terms. It points out that some of the 'old–new' terms may tend to reduce the efficacy in the contemplated lay administration of the statutes. It also warns that the 'old–new' lexicon threatens to undermine key goals of the reform exercise, suggesting a need for deeper scrutiny in the transplantation process. [ABSTRACT FROM AUTHOR]

Economic abuse is a form of family violence that severely inhibits victim survivors’ capacities to rebuild their lives. Although its effects are widely felt, it remains a hidden problem. This article contributes to the burgeoning scholarship on economic abuse by investigating its perpetuation through family-owned companies. Victim survivors commonly bear the liability for business failure and phoenix activity as ‘straw’ directors. Recent reforms introduced to deter and penalise illegal phoenix activity have increased the risks for survivors who are coerced or defrauded into becoming directors. The study examines how corporate law and the courts have responded to straw directors in the context of family companies. It interrogates the notion that victim survivors assume responsibility for business decisions voluntarily, as rational economic men with relatively equal bargaining power. This article proposes reforms to disrupt harm from economic abuse through coerced directorships, and to militate against the unintended consequence of recent reforms. [ABSTRACT FROM AUTHOR]

Business failure and exit are concomitants of business discontinuance which must be extensively studied as businesses such as tutorial centers can experience unfavorable events. This paper investigated the internal (i.e., owner/founder orientations) and external (i.e., compliance with government policies) antecedents leading to business failure and the eventual exit in the shadow education industry in 2013, particularly of Philippine privately owned tutorial centers which are divided into non-registered and registered services. Using the multiple case study approach, empirical findings showed that business failure is primarily caused by internal factors specifically the owner/founder orientations, while non-compliance with government regulations is secondary. The owner/founder orientations were comprised of motivation, characteristics/behavior, skill managerial deficiencies, capabilities, and financial knowledge shortcomings. Nonregistered tutorial centers asserted that only skill/managerial deficiencies and capabilities lead to failure while registered tutorial services perceived all as reasons for business failure. Not complying with government policies can affect more the registered tutorial services than the non-registered centers. Business exit was chosen by all the owners of tutorial centers as a viable option in case of business failure. Future studies can consider obtaining more participants and comprehensively investigating tutorial centers from different countries to enrich cross-country research in shadow education. [ABSTRACT FROM AUTHOR]

The retail sector is experiencing unprecedented change, from ongoing shifts in shopping behaviour to retailer rationalisation and business failure. Internationally, this is impacting the crucial economic and social role of many highly developed city centres. This paper examines how key stakeholders have responded to the challenges of adapting city centres for the future. Empirically, the paper draws on a series of repurposing schemes across five case study cities. Conceptually, theories of assemblage are used as an analytical framework to understand how heterogeneous networks combine to repurpose city centres. The paper makes a distinctive contribution by revealing symbiosis between mixed uses that challenge traditional high street norms, and suggests that harnessing common desires could underpin productive shared governance and support business communities' efforts to bring vibrancy and enhance resilience. [ABSTRACT FROM AUTHOR]

Because prudent corporate governance often requires managers to take risks based on statistically expected outcomes, corporate failures that have a small but finite chance of occurring cannot always be prevented. This Article makes three related claims about risk-taking in corporate governance. This Article's first claim is that managers should not automatically be presumed to be at fault for corporate failures that result from risk-taking decisions based on statistical methodologies that reasonably justify the decisions ex ante. Conceptually, the business judgment rule should protect corporate managers for engaging in a reasonable decision-making process, including one that is statistically based. Jurisdictionally, however, the scope of the business judgment rule is narrowly limited (primarily, to state-law shareholder derivative lawsuits), leaving a large protection gap. To fill this gap, this Article's second claim is that corporate managers should also be protected by a "statistics-based governance" rule that exempts them from liability, under both federal and state law, for making risk-taking decisions based on statistical methodologies that reasonably justify their decision-making (assuming good faith, and no managerial conflicts of interest or fraud). Part of the rationale for this claim is that a statistics-based governance rule would be more objective, and thus less subject to criticism, than the business judgment rule. The Article's third claim concerns expected-value analysis, which is the statistical methodology most generally accepted and widely used for making risktaking decisions. When determining an expected value, corporate managers should ask, "Expected value to whom?" For most risk-taking decisions, this determination should only take into account the firm and its investors. However, for decisions that could cause significant economic, environmental, or other social harm, this determination should also endeavor to take into account the public. [ABSTRACT FROM AUTHOR]

This study uses different feature selection methods in the field of business failure prediction and tests the capability of Genetic Programming (GP) as an appropriate classifier in this field. The prediction models categorize the insolvency/non-insolvency of a firm one year in advance from a large set of financial ratios. Different selection strategies based on two evolutionary algorithms were used to reduce the dimensionality of the financial features considered. The first method considers the combination between the global search provided by an evolutionary algorithm (differential evolution) with a simple classifier, together with the possible use of classical filters in a first step of feature selection. Secondly, genetic programming is used as a feature selector. In addition, these selection approaches will be compared when GP is used exclusively as a classifier. The results show that, when using GP as a classifier method, the proposed selection method with GP stands out from the rest. Moreover, the use of GP as a classifier improves the results with respect to other classifier methods. This shows an added value to the use of GP in this field, in addition to the interpretability of GP prediction models. [ABSTRACT FROM AUTHOR]

The object of this study is the financial difficulties that impacted the success of business owners in Hatfield, Gauteng province, South Africa. Compared to a global failure rate of 50 %, five out of every seven entrepreneurs in Hatfield, South Africa fail during the first year of operation. This study aimed at looking into the relationship between entrepreneur failure and financial literacy. The methodology employed in this study is interpretive philosophy-based qualitative research. An ethnographic research technique was also used to analyze the current economic condition of business owners in Hatfield. The population was sampled using non-probability purposive sampling techniques. Semi-structured interviews were used to gather the study’s leading source of data. The primary research results are thematically examined while also considering the secondary sources. Eliminating financial and liquidity constraints was listed as a goal of financial literacy. Findings garnered revealed that financial, liquidity and credit restrictions are the primary causes of business failures in Hatfield. The lack of financial resources for new businesses in Hatfield, as revealed, prompted several liquidity issues in Hatfield, and further lowers the growth rate of Hatfield businesses. It was discovered that Hatfield’s entrepreneurs usually experienced premature failure due to inadequate financial education and training. Impliedly, Hatfield business owners possessed poor cash management, defaulting on loan payments due to lack of financial education. Conversely, only few entrepreneurs and business owners in Hatfield, South Africa possess financial literacy competence with the necessary skills needed to better analyze their financial statements appropriately and increase profitability of their business. The practical implication of this finding is that, most entrepreneurs have high possibility to experience premature business liquidity when they have low or no financial literacy [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic altered the local economic geographies of many U.S. cities, and it remains unclear how long these changes will persist. This study analyzed the sociospatial dynamics of business closures in Miami-Dade County, Florida, from August 2020 to August 2021 with an explicit focus on reconciling the pandemic's effects in the context of location theory. We found that traditional urban centers and transit-concentrated areas experienced disproportionately higher rates of business closures during the study period, suggesting a potential wave of commercial suburbanization in Miami. Middle-class and working-class Hispanic neighborhoods suffered the most business closures. The results of correlation analysis and spatial regression models suggested a positive association between the incidence of COVID-19 cases and business closures at both zip code and individual business levels. These results also beckon a revaluation of the role of certain urban externalities in traditional location theory. The importance of automobile accessibility and agglomeration effects are poised to persist beyond the pandemic, but the benefits of proximity to the public transport system might decline. The trends observed in Miami suggest that the pandemic could generate more automobile-reliant employment subcenters in U.S. cities and amplify problems of intraurban inequality and urban sprawl. [ABSTRACT FROM AUTHOR]

The concept of financial failure has become even more important with the effect of recent economic crises. As a matter of fact, the recent economic conjuncture has been affecting many sectors and businesses, especially critical sectors. In this respect, failure to fulfill short-term obligations, declaring a concordat with its creditors for debt restructuring, deterioration in cash flow, interruption of operations and loss of active elements, etc. the problems that arise drag businesses into financial failure and then bankruptcy. In this study, financial failure risks were estimated in the light of the data between the years 2017-2021 of 11 cement companies within the Stone and Soil Based Sector in Borsa Istanbul. Altman Z-Score and Springate S-Score models, which are frequently preferred in the literature, were used in the aforementioned risk estimations. According to the results obtained from the two models used in the study, it has been observed that the risk of financial failure in the sector is relatively low. In the evaluation to be made in terms of enterprises, it can be said that 5 companies are exposed to the risk of financial failure according to Z score values and 4 companies according to S score values. [ABSTRACT FROM AUTHOR]

Artificial intelligence (AI) proves decisive in today's rapidly developing society and is a motive force for the evolution of financial technology. As a subdivision of artificial intelligence research, machine learning (ML) algorithm is extensively used in all aspects of the daily operation and development of the supply chain. Using data mining, deductive reasoning, and other characteristics of machine learning algorithms can effectively help decision-makers of enterprises to make more scientific and reasonable decisions by using the existing financial index data. At present, globalization uncertainties such as COVID-19 are intensifying, and supply chain enterprises are facing bankruptcy risk. In the operation process, practical tools are needed to identify and opportunely respond to the threat in the supply chain operation promptly, predict the probability of business failure of enterprises, and take scientific and feasible measures to prevent a financial crisis in good season. Artificial intelligence decision-making technology can help traditional supply chains to transform into intelligent supply chains, realize smart management, and promote supply chain transformation and upgrading. By applying machine learning algorithms, the supply chain can not only identify potential risks in time and adopt scientific and feasible measures to deal with the crisis but also strengthen the connection and cooperation between different enterprises with the advantage of advanced technology to provide overall operation efficiency. On account of this, the paper puts forward an artificial intelligence-based corporate financial-risk-prevention (FRP) model, which includes four stages: data preprocessing, feature selection, feature classification, and parameter adjustment. Firstly, relevant financial index data are collected, and the quality of the selected data is raised through preprocessing; secondly, the chaotic grasshopper optimization algorithm (CGOA) is used to simulate the behavior of grasshoppers in nature to build a mathematical model, and the selected data sets are selected and optimized for features. Then, the support vector machine (SVM) performs classification processing on the quantitative data with reduced features. Empirical risk is calculated using the hinge loss function, and a regular operation is added to optimize the risk structure. Finally, slime mould algorithm (SMA) can optimize the process to improve the efficiency of SVM, making the algorithm more accurate and effective. In this study, Python is used to simulate the function of the corporate business finance risk prevention model. The experimental results show that the CGOA-SVM-SMA algorithm proposed in this paper achieves good results. After calculation, it is found that the prediction and decision-making capabilities are good and better than other comparative models, which can effectively help supply chain enterprises to prevent financial risks. [ABSTRACT FROM AUTHOR]

This section presents notices of corporate dissolution filed in Missouri as of March 2023 which involve companies such as Abacus One, LLC, AIC Structural Consultants, Inc., and EEG Properties LLC.

This study focuses on the search for the causes, or combination of circumstances, that lead to business failure processes. There is renewed interest in this subject due to the adverse consequences that the recent economic crisis has caused in the business world. A fuzzy set Qualitative Comparative Analysis (fsQCA) is thus carried out to identify the combination of financial ratios that points to situations of financial difficulty. The study centres on the cooperative sector, represented by a sample of 56 companies holding this legal status, belonging to various different productive sectors. The results obtained, and confirmed through a number of different robustness tests, reveal the presence of sufficient conditions comprising combinations of variables reflecting high indebtedness, low liquidity, low solvency and small firm size, representing a scenario that would be sufficient for an entity to face business continuity problems. Thanks to its ability to identify combinations of variables that warn of business failure, as well as its ease of interpretability, the fsQCA technique can be extremely useful for business management and the identification of business failure situations. [ABSTRACT FROM AUTHOR]

Financial failure gained importance after the second half of the 1900s and started to become an important concept for the continuity of businesses. The concept of financial failure, which allows businesses to take precautions and predict their financial situations in order to have a sustainable structure; It can cause undesirable consequences such as bankruptcy, inability to pay debts, cessation of activities, loss of assets. This study was carried out in order to determine the financial failures of businesses operating in the Textile, Clothing and Leather Sector of Borsa Istanbul (BIST). In the study, various analyzes were carried out using the financial statement data of 23 companies in the relevant sector between the years 2017-2021. Springate S and Fulmer H Score models were used as a method in the study. As a result of the study, in accordance with the literature, it was found that the risk of financial failure of the relevant sector is high and the sector has a fragile structure. As stated in other studies, the unique structure of the sector is also important in evaluating the financial failure situation. It is recommended to valuable authors that future studies should be based on different periods and sectors. [ABSTRACT FROM AUTHOR]

The article focuses on Australian business management improvement programs and provides a critical assessment of their scope, effectiveness, and areas for improvement. It highlights deficiencies in management capabilities, especially within small and medium-sized enterprises (SMEs), and discusses the need for better program design, evaluation, and institutional analysis to address persistent issues in program performance.

Doubtlessly, the primary goal of every construction company is to maximise profitability. Without this, construction companies cannot survive. Incidentally, Ugandan local construction contractors (LCCs) continue to collapse in a short period, despite enormous public and private investments in the construction sector. This study investigates the profitability of LCCs in Uganda. An investigation was conducted to develop a regression model that would enable LCCs to enhance their profitability and minimise business failure. A questionnaire survey was conducted to collect primary data from 47 local construction companies registered with the Uganda National Association of Building and Civil Engineering Contractors (UNABCEC) and secondary data were collected from audited books of accounts covering from year 2016 to 2018. Thirty-five valid responses were received, representing a response rate of 74%. Data were coded into SPSS version 25, analysed and displayed using the relative importance index (RII), statistical correlation and regression analysis. The findings indicated that the profitability of LCCs was unsatisfactory when compared to the profitability ratios recommended for the construction industry and those of contractors in other countries. The results also indicate that the profitability of LCCs is significantly affected by the timeliness of payments, cost of finance, competitive bidding environment, project delays, price fluctuations and corruption tendencies, in that order. The findings of this study will benefit construction industry players by providing awareness about the factors affecting the profitability of LCCs. A regression model to enhance profitability was developed using regression analysis. This will help LCCs enhance their profitability by developing mitigation strategies that prevent low profitability; consequently, business failure will be minimised. [ABSTRACT FROM AUTHOR]

Due to operating in the mining and iron sectors with fierce competition and encountering more financial obstacles compared to larger enterprises, SMEs (small and medium-sized enterprises) become more likely to face business failures, have lower financial performance and have high financial risk. To overcome those financial impediments and become more competitive against their rivals, social media usage might be a solution. This is because even under the conditions of the covid-19 pandemic, social media has also stimulated online purchasing behaviours of customers and has been used as an effective tool by SMEs for marketing purposes. However, SMEs' usage of these channels might differ depending on the countries where they are located, so their impacts on financial obstacles might be different. In this regard, this research examines whether the impacts of social media usage on the financial problems of SMEs differ depending on their location. To achieve this goal, the researchers employ an online survey and direct it to the executives of 1156 Czech, Slovakian and Hungarian SMEs. The researchers apply Ordinal Logistic Regression with the Logit function in SPSS statistical tool for analyzing purposes. The results confirm the fact that while differences do not exist among countries regarding the impact of social media usage on business failures, the effects of social media usage on financial performance and financial risk differ between Hungarian and Czech-Slovakian SMEs. Czech and Slovakian SMEs show similar attitudes in all of the analyzed variables. [ABSTRACT FROM AUTHOR]

The article presents notices of corporate dissolution by voluntary action involving companies in Missouri. Among the firms are C&C Management of Perryville, Inc., Cottages Senior Housing of Belton, LLC, Cottages Senior Housing of Kansas City, LLC, Cape Girardeau License Bureau, Inc., and The Kyser Family, Inc.

Predicting the bankruptcy of a company has led to several investigations. The use of financial ratios has been proposed as an indicator to measure the stability of a business unit. Altman developed a Z-Score model, which used organization's financial information to predict the probability of business failure 2-3 years in advance. The following work proposes the application of this model in Colombian companies to measure the probability of financial insolvency between the years 2016 and 2019. In order to fulfill the objective, the research was carried out under a quantitative approach. The results of the measurements show that the model can be applied as a predictive financial tool to measure the probability of financial insolvency of companies in Colombia. It can be concluded that Altman's Z model can be applied to Colombian business structures to predict financial emergency situations one, two and three years in advance. [ABSTRACT FROM AUTHOR]

Entrepreneurship has seen one of the major growths in Pakistan, in fact, just last year, the country ranked as 4th in the World for the highest ratio of startups and small businesses. With many new campaigns and programs in support for new and thriving business ideas for youth by the government and tax wagers, the market has seen a significant growth in the last few years however the sustainability and effectiveness hasn’t grown alongside. One of the major reasons is the ineffective marketing strategies that small businesses implement due to their lack of exposure to understanding the industry. Another hypothesis that can be reached is the effect of Covid in the recent months especially since last year that has brought a huge downturn in the industry and has significantly damaged the state of existing as well as new SMEs in its duration. Our study adopted a simple questionnaire through which we tested and found out the insight and learned how ineffective marketing has affected businesses everywhere resulting in business failures and bankruptcy, along with the current Covid situation that has driven many SMEs to forced closure. Through this study, many rising businesses in their initiation phase will learn the keys to rescuing a failing business specially through recognizing the importance of marketing and its latest trends. [ABSTRACT FROM AUTHOR]

In this paper, we analysed how business age and mortality are related during the first years of life, and tested the different hypotheses proposed in the literature. For that, we used data on US business establishments, with 1-year resolution in the range of age of 0–5 years, in the period 1978–2019, published by the US Census Bureau. First, we explored the adaptation of classical techniques of survival analysis (the life table and Peto–Turnbull methods) to business survival analysis. Then, we considered nine parametric probabilistic models, most of them well known in reliability analysis and in the actuarial literature, with different shapes of the hazard function, that we fitted by maximum-likelihood method and compared with the Akaike information criterion. Our findings show that newborn firms seem to have a decreasing failure rate with age during the first 5 years in market, with the exception of the first months of some years in which the risk can rise. [ABSTRACT FROM AUTHOR]

The purpose of the paper is to propose two new procedures that deal with overfitting problem using neural techniques for variable selection and business failure prediction. The first procedure, called HVS-AUC, is based simultaneously on (i) the backward search, (ii) the HVS measure (Heuristic for Variable Selection), and (iii) the AUC criterion (Area Under Curve). The second procedure, called forward-AUC, is based on (i) the forward search and (ii) the AUC criterion. Using a sample of bankrupt and non-bankrupt firms in France, the implementation of the procedures using neural networks shows that the profitability, the repayment capacity, the taxation, and the importance of investment have a strong explanatory power in bankruptcy prediction. These procedures also provide more parsimonious and more efficient models compared to Linear Discriminant Analysis. [ABSTRACT FROM AUTHOR]

The article discusses the effect of divestiture on partial or full disposal of a business unit through sale, exchange, closure, or bankruptcy. Topics include the difference between the technicalities of the terms exit and divesture; strategic moves of late to focus on its core surface mining and underground hard rock mining equipment products, technologies, and systems.

This study examines the potential effect of COVID‐19 on agricultural financing by drawing lessons from past global crises and their link to agricultural financing. With significant impact in multiple sectors, COVID‐19 has caused significant liquidity shortage in the banking and financial institutions sectors that led to widespread business failure. Analysis at the macro, sectoral, and farmer levels confirms the decline in the financing allotted to the agricultural sector in Africa, which could exacerbate the existing structural gap in agricultural financing. Many policy responses and stimulus packages designed to address the negative effects of the crisis are found not to be enough. At the farmer level, findings indicate that many farmers are finding it more difficult to access credit than before the COVID‐19 crisis. For individual governments, a better understanding of the magnitude of the agricultural sector financing and investment needs to propose appropriate complementary responses is lacking. We suggest that, in the face of such a crisis, while in the short term the agricultural sector needs emergency funding, in the medium and long term, greater financial support is required, including long‐term resources at concessional rates, guarantee funds, and more suitable insurance products combined with social safety nets. [ABSTRACT FROM AUTHOR]

Self‐perceived cognitive factors are the vital components in the early stage of entrepreneurship development activities. This paper examines the effect of self‐perceived cognitive factors on entrepreneurship development activities in Oman by using the Oman Global Entrepreneurship Monitor survey data collected in 2019. Using the ordered logit regression model, the study found that there is a significant and positive effect of business opportunities on the development of entrepreneurship activities. Necessary skills and creativity also have a significant positive effect on entrepreneurship development activities. However, fear of failure in business has a significant negative effect on it. Young and adult Omani populations perceive that they have adequate knowledge, skills, and capacity for innovation and creativity for entrepreneurship, and they have a positive attitude toward entrepreneurship. The majority of young populations perceive that there is enough opportunity to start a business, but many entrepreneurs are afraid to take risks that entail possible failure. To reduce the uncertainty and fear of failure in business, the government needs to create a business‐friendly environment and support entrepreneurs in various aspects. [ABSTRACT FROM AUTHOR]

The COVID-19 pandemic has affected various aspects of human life and forced many businesses to close. In attempt to manage the outbreak, many countries have executed series of Movement Control Orders (MCOs) and non-pharmaceutical intervention (NPI). Small food operators in Malaysia endeavor to keep operating their businesses, with strict policies imposed by the government. This study reviews the literature pertaining to the impacts of COVID-19 on business, specifically small food businesses in Malaysia and identify their survival strategies during the crisis. Major shift from traditional towards online approach, using modern technology such as food apps was an eye-opening strategy. The online platform provides great opportunities for food businesses during the current emergency, adding the financial aid from Malaysian Government. The current pandemic offers a unique opportunity for food business operators to identify another dimension expanding the business model and begin to adapt into modern technology. [ABSTRACT FROM AUTHOR]

This study explores the influence of political risk on firms in the tourism industry. It addresses a research gap regarding the impact of political risk on firm-level performance and failure and uncovers the role of organizational slack in this relationship. Firm-level political risk is estimated from 2002 to 2019 financial data for firms across six tourism sectors in a developed economy, the United States. Such risk is found to be significantly associated with firm performance and business failure. From the perspectives of the resource-based view and the threat-rigidity hypothesis, the results support the moderating effects of absorbed and unabsorbed slack on links between risk, performance, and business failure. Given that the COVID-19 pandemic has highlighted the tourism industry's vulnerability, this study will be of interest to tourism firms seeking to improve business sustainability and resilience. [ABSTRACT FROM AUTHOR]

Purdue Pharma, the bankrupt drug manufacturer at the center of the opioid crisis, settled its civil and criminal liability for opioid harms with the Department of Justice in a deal that contained a "poison pill" that prevented creditors from objecting to any subsequent plan of reor-ganization for Purdue: if creditors exercised their rights and pushed for Purdue's liquidation, they would forfeit all of Purdue's value to the De-partment of Justice. This Article argues that Purdue illustrates how the procedural checks and balances that make Chapter 11 bankruptcy a fair and credi-ble system have broken down. Purdue represents the confluence of three trends in bankruptcy: (1) increasingly aggressive and coercive restruc-turing techniques like the poison pill that lock in the determination of subsequent decisions in the bankruptcy; (2) the lack of appellate review for many key bankruptcy issues; and (3) the rise of "judge-shopping," facilitated by bankruptcy courts' local rules that enable debtors to handpick their judge. While each of these trends is problematic in its own right, standing alone they do not undermine the fundamental fairness of the bankruptcy system. Their convergence, however, results in a broken legal system in which a single non-Article III judge of the debtor's choosing is the only real check on what the debtor can do in Chapter 11. This situation ena-bles debtors to push through overreaching restructuring transactions that benefit favored creditors and allies at the expense of disfavored creditors, like the opioid victims in Purdue. [ABSTRACT FROM AUTHOR]

One of the most important factors that determine the success or failure of businesses is the human factor. Therefore, it is very important to consider the motivations and behaviors of the personnel within the organizations. The aim of this research is to reveal how the perceptions of the personnel working in the banking institutions operating in Hatay province towards Machiavellian leadership affect their perceptions of organizational cynicism and mobbing. The data obtained as a result of the survey study were analyzed through the SPSS 25 and AMOS 24 programs, and anova, t-test, reliability and factor analyzes as well as pearson correlation analyzes and structural equation modeling were carried out. According to the results of the research, it has been revealed that bank personnel who have Machiavellian feelings have a cynical attitude towards their organizations, internally criticize the institution they work for and at the same time support negative behaviors. It is envisaged that this research will contribute to the literature, shed light on future studies and contribute to the improvement of the policies of the relevant institutions towards personnel. [ABSTRACT FROM AUTHOR]

In the early stage of business, which is where most new ventures fail, many entrepreneurs experience discrepancies between their entrepreneurial expectations and business realities. These discrepancies referred to by this paper as an entrepreneurial gap (EG) are, therefore, among other factors, professed to be responsible for the high attrition rate of emerging ventures in South Africa. An oversight in this area of EG, despite the provision of most required resources, may still lead to business failure. This paper argues that there is more yet to be comprehended regarding early-stage business success, concerning the entrepreneur component. The purpose of this paper was to recognize and classify factors responsible for establishing entrepreneurial gaps with the intent to improve the level of preparedness among emerging entrepreneurs. A qualitative approach with in-depth interviews was employed in the data collection. ATLAS ti 8 was used to unpack factors that instigate entrepreneurial gaps while posing challenges to emerging entrepreneurs in the early stage of business. The groups identified were: entrepreneur management, familism and personal management. The findings provide information that is credible to improving the level of preparedness among emerging entrepreneurs, and could be used by mentors, coaches and relevant support structures. [ABSTRACT FROM AUTHOR]

Despite its rapid growth during the last three decades, salmon farming is risky because of production risk and dynamic market conditions, resulting in volatile salmon price over time. Price variability raises revenue uncertainty, affecting financial performance, capital structure, and survival probability. This study evaluates how price variability and financial ratios affect business failure in the Norwegian salmon farming industry. An initial statistical analysis indicates a positive correlation between price variability and firm exit cases. The estimation results of the nonproportional hazard model show a positive impact of price variability on the hazard rate. Among financial ratios, retained earnings/total assets and equity/total liabilities influence the hazard rate jointly with price variability. To this end, we discussed the implications regarding risk management and the sustainable growth of the aquaculture industry. [ABSTRACT FROM AUTHOR]

This section presents notices of corporate dissolution in Missouri. These include notice of winding up for limited liability company to all creditors of an claimants against 4545 Main, LLC, notice of articles of dissolution by voluntary action to all creditors of and claimants against Aitchison-Richmond Supply Company, and notice of winding up for limited liability company to all creditors and claimants against Atomic Fizz Sosa Pop LLC.

Although filing for bankruptcy is the primary form of economic relief for U.S. consumers in financial distress, pro se debtors lack access to the consumer bankruptcy system. An individual debtor faces many challenges when filing for bankruptcy without an attorney, since the debtor must rely on free access to the information provided by the U.S. Courts website. However, that information is vague and presented in complex legalese and dissuasive diction. On the other hand, U.K. debtors who need financial relief can file for bankruptcy through a clear and accessible bankruptcy filing process. U.K. debtors also have access to free consumer debt advice from a government-funded nonprofit organization, Citizens Advice. This paper discusses the differences in filing processes for U.S. and U.K. debtors. It ultimately concludes that the U.S. should implement similar filing processes to those in the U.K. to create a more accessible bankruptcy system, especially in the aftermath of the Covid-19 pandemic. [ABSTRACT FROM AUTHOR]

Growth under Dilma averaged 0.43 percent per year.[8] The fiscal deficit under Dilma was also higher than it had been under Lula.[9] This matters to a government that pays as much as Brazil's to borrow money. Did The Lula-Dilma Governments Make Too Many Compromises in Order to Maintain Power? The Importance of Cunning I Lula and His Politics of Cunning i is particularly good on the union politics Lula engaged in when he was first secretary and then president of the São Bernardo and Diadema metalworkers' union, from 1972 to 1980. 13 The manifesto was "Mudar o PT para continuar mudando o Brasil" (Change the PT to continue changing Brazil). [Extracted from the article]

Following the prolonged economic crisis of recent years, a new economic shake-up due to the COVID-19 pandemic is under way. We consider whether banks and financial institutions may apply the same models as before for credit scoring and predicting risk. In particular, we investigate the prediction of survival or failure of Small Business Enterprises in Italy between 2008 and 2013, and between 2013 and 2018, using logistic regression models based on baseline balance sheet data. By fitting appropriate models including interaction with the time period, we identify several major differences. Notably, the Investment Rigidity Ratio was very strongly associated with failure probability in the first period but not the second, and a low Tangible Assets Ratio had a much stronger protective effect in the first period than in the second. The effect of the age of the firm also differed between the periods: younger firms were at greater risk of failure than older firms in 2008-2013 but this was not seen in 2013-2018. Especially in times of major changes, it is vital that quantitative aids to decision-making should be valid and up-to-date. [ABSTRACT FROM AUTHOR]

Small to mid-market, independent businesses are at the heart of our economy and play a pivotal role in job creation. While it's estimated by the House of Representatives that these companies account for over half of overall U.S. employment, they have been traditionally underserved in bankruptcy law. Historically, the resources necessary to complete a chapter 11 bankruptcy are not within reach for these small to mid-market businesses. Passed in 2019, the Small Business Reorganization Act has modified the Bankruptcy Code to provide new avenues for these small businesses in need. Impactful in its own right, it has emerged as a lifeline to small businesses decimated by the pandemic. This Note will focus on the fundamental changes to the Bankruptcy Code brought by the SBRA and what improvements can still be made. [ABSTRACT FROM AUTHOR]

In this paper we intend to substantiate the usefulness of Deep Learning, especially feedforward neuronal networks, in the prediction of business failure. This methodology provides very good results in terms of predictive performance when large sample sizes are available. Therefore, we have developed a business failure prediction model for European companies, based on this algorithm on a sample of 61,624 companies, of which 12,128 were declared bankrupt in 2016. As independent variables were considered ratios, and economic and financial data obtained from the financial statements for the year preceding the date of failure. Deep Learning achieves a predictive performance of 94%, where companies with larger size and lower solvency are more prone to failure. The obtained results have been tested on an independent test sample, different from that used to estimate and train the model. [ABSTRACT FROM AUTHOR]

Many have argued that the technocratic apparatus of development is sustained – and not undermined – by its fallacies. Building on previous failures, development experts envision new plans, new analytical tools and new modes of governance. One recent example is the bottom-of-the-pyramid approach (BOP), a development doctrine predicated on the failure of previous anti-poverty approaches and based on the creation of products, services and entrepreneurial opportunities for the poor. Critically bracketed as a hallmark of millennial neoliberalism in the Global South, BOP projects, like previous development schemes, fail too. Through the narration of two experiments that, in 2015, had failed to create profit at the bottom of the pyramid in Cape Town (South Africa), this paper focuses on how development expertise makes sense of and engages the lack of profitability at the BOP, showing that failure is an important entry point into the actually existing forms of neoliberal anti-poverty enterprises in the Global South. Using J. K. Gibson-Graham's feminist economic geography framing, this article argues that neoliberal doctrines themselves sank these market experiments, whilst opening possibilities for development experts to engage alternative economic forms that stemmed from their failures. [ABSTRACT FROM AUTHOR]

In a fast-changing environment, the Arab newspapers are struggling to survive, this study identifies the journalists' perceptions of the suitable business models, through interviews with 161 journalists in the UAE, Egypt, and Saudi Arabia. The study revealed the existence of a pessimistic view of journalists about the future of journalism, and the lack of confidence of journalists in public support. They expected the disappearance of some newspapers soon, and the failure of business models based on paying for content. They call for promoting paid content, maintaining government support, and not to abandon the traditional model based on advertising, distribution, and external support. They demanded to take advantage of partnerships with social media, and adopt a combination of several business models, promote of a pay-based business model, implement the digital transformation in editorial and administration procedures, and qualify journalists to deliver innovative content. [ABSTRACT FROM AUTHOR]

Deteriorated track infrastructure can lead to significant consequences, such as derailment incidents, loss of revenue-service hours, reduced train operation speed, and even failure of the business. The Federal Railroad Administration (FRA) requires thorough and timely rail track inspections to keep trains operating safely. Approaches using advanced and emerging technologies have become more accessible and broadened their applications. Unfortunately, for Class II (regional) and III (short line) railroads (referred to as local railroads hereafter), there are many obstacles for deployment of these advanced technologies, such as budget constraints and lack of workforce skills. Local railroads are actively seeking cost-effective and efficient approaches to replace conventional methods of manual inspection. This paper, for the first time, aims at identifying the key challenges for local railroads regarding the demand for reliable and timely rail track inspection, lack of advancement of emerging technologies, and unique constraints faced by the local railroads. Through a comprehensive review of the common rail and track geometry defects and state-of-the-art track inspection techniques, this paper critically analyzes the knowledge gaps from four key perspectives from the perspective of local railroad operation: finance, technology, standards, and operation. It is found that automated nondestructive evaluation (NDE) techniques and inexpensive alternatives to the Automated Track Inspection Program (ATIP) may still be cost-feasible and effective for local railroads with future technological and operational upgrades. [ABSTRACT FROM AUTHOR]

This article deals with the maritime transports of a little known but not unimportant Florentine merchant family. On the basis of previously unknown archival source material, we address questions of family history, mercantile networks, maritime trade connections, and merchandise (including some famous artworks), shedding new light not only on the Florentine merchant navy, but also on the history of maritime trade between the Mediterranean and the North in the Renaissance. In particular, we show what impact factors like bankruptcy and exile had on Florentine merchant families conducting in longdistance trade, and of how setbacks in Medicean Florence could be mastered. After establishing a business enterprise between Venice, Apulia and Poland, the Sermattei were disfavoured by the regime Cosimo de' Medici established in Florence, struck by bankruptcy, exiled and murdered. In order to overcome this existential crisis and to re‐establish the bonds with the Medici, the Sermattei moved to Pisa and started trading. The story of the Sermattei illustrates what the exile and return of the Medici meant for Italian merchant families and their businesses, and how it was possible for them to overcome a business failure via mare transporting a specialised assortment of goods and artworks for the Medici. [ABSTRACT FROM AUTHOR]