SME insolvency, bankruptcy, and survival: an examination of retrenchment strategies

A key assertion in the turnaround literature is that when survival is threatened, it is necessary to undertake asset and cost retrenchment strategies that stabilise the performance decline and provide a base for survival and recovery. Correcting for methodological weaknesses in the literature, this study of Spanish SMEs finds that retrenchment of inventory and employees is associated with liquidation. Furthermore, neither intangible asset nor tangible asset retrenchment is associated with survival. Only retrenchment of debt is associated with survival. These results challenge conventional wisdom on retrenchment in turnaround situations. Automatic, across-the-board retrenchment is not a universal panacea to achieve turnaround and should not be implemented as a reflex response to insolvency. Instead, managers of insolvent firms should focus on liquidity and operational improvements, which result in debt reduction. Great care should be taken with the need for, and the extent of, retrenchment in inventory and employees

Innovative research methods in health social sciences : an introduction

Innovative, or creative research, methods have become increasingly popular in the last few decades. In this chapter, I will include several salient issues on which chapters in the section on “Innovative Research Methods in Health Social Sciences” can be situated. First, I discuss some ideas about innovative and creative methods. This is followed with the notion of those who practice innovative methods: the innovative researcher. I will then bring readers through a number of innovative and creative methods that researchers have adopted in their research. These include the theoretical lens, arts-based and visual research methods, the body and embodiment research, digital methods, and textual (plus visual) methods of inquiry. As an innovative researcher, our choice of innovative methods primarily depends on the questions we pose; the people who are involved; our moral, ethical, and methodological competence as researchers; and the sociocultural environment of the research. As we are living in the world that continue to change, it is likely that health and social science researchers will continue to experiment with their creative methods in order to ensure the success of their research. I anticipate that in the future, we will see even more creative methods that researchers will bring forth