La "trajectoire de restructuration" des entreprises : une analyse empirique: in: Institut des Réviseurs d'Entreprises, Liber Amicorum Henri Olivier, La Charte, Bruxelles

This research investigates the effects of corporate reorganizations as reflected in the firms' financial statements, management and auditors' reports. It includes the statistical analysis of the financial statements (from 1987 to 1997) of a representative sample of Belgian companies having capitalized reorganization expenses during fiscal 1992. The analysis sheds light on the early symptoms of corporate distress and on the long term effectiveness of the reorganization process. It also shows the overall effect of the business cycle on corporate performance.