Philipp Jostarndt studies distress-induced changes in ownership and control success factors in
distressed equity infusions and firms¿ choice between in- and out-of-court debt
restructurings. In addition he analyzes the determinants of survival acquisition and
bankruptcy as alternative paths to exit financial distress. He includes both the firm
perspective as well as the market valuations of the undertaken restructurings and where
applicable relates the findings to the microstructure of Germany¿s revised bankruptcy
legislation.
