Title

Financial information and voluntary administration outcomes: Evidence from Australian listed public companies

Date of this Version

1-1-2005

Document Type

Journal Article

Publication Details

Interim status: Citation only.

Routledge, J. & Gadenne, D. (2005). Financial information and voluntary administration outcomes: Evidence from Australian listed public companies. Accounting, accountability and performance, 11(1), 74-95.

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2005 HERDC submission.

© Copyright Accounting, Accountability and Performance, 2005.

Abstract

Introduction of the statutory voluntary administration (VA) process in mid 1993 represented a significant change to corporate insolvency law in Australia in providing greater opportunity for companies to attempt to resolve their financial distress. The focus of this paper is on the relationship between financial information available at the time a company enters VA and the VA outcome. In particular, we explore how financial information that indicates a company's capacity to restructure its debt and assets relate to the VA outcome. Our analysis indicates that a company's ability to restructure its debt contracts is critical to the fate of companies that enter VA.

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This document has been peer reviewed.