Επιχειρηματική αναδιάρθρωση.

Abstract

Companies constantly have to deal with various and serious problems as well. In general, the nature of these problems are usually related to the structure of the companies and in particular to the matter of maximizing companies value and thus their viability. In recent times this effort is intensified due to the global economic crisis. Restructuring is widely used in both the developed and developing countries nowadays. Companies and economies are restructuring to achieve a higher level of performance or to survive when the given structure becomes dysfunctional. The main objective of this thesis is the study and understanding of the process of "Corporate Restructuring ". Symptoms and causes of the decline of a company are specified in detail. However, based on the literature, it is made an extensive reference to the conceptual and quantitative definitions of "Corporate Restructuring", as well as to the causes that provoke it. Moreover, the restructuring activities are classified into three main categories (operational/portfolio restructuring, financial restructuring and organizational restructuring) and the restructuring process into five stages. The basic distinction of the techniques of "Corporate Restructuring" is among a) mergers & acquisitions (M&As) and b) divestitures (sell-offs, spin-offs, equity carve-out, LBOs, MBOs). Finally, statistics data and several examples of these techniques are given.