{"id":"https://openalex.org/W4380362829","doi":"https://doi.org/10.1111/jbfa.12736","title":"Yesterday is history, tomorrow is a mystery: Directors\u2019 and CEOs\u2019 prior bankruptcy experiences and the financial risk of their current firms","display_name":"Yesterday is history, tomorrow is a mystery: Directors\u2019 and CEOs\u2019 prior bankruptcy experiences and the financial risk of their current firms","publication_year":2023,"publication_date":"2023-06-12","ids":{"openalex":"https://openalex.org/W4380362829","doi":"https://doi.org/10.1111/jbfa.12736"},"language":"en","primary_location":{"id":"doi:10.1111/jbfa.12736","doi":"https://doi.org/10.1111/jbfa.12736","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jbfa.12736","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12736","source":{"id":"https://openalex.org/S48254654","display_name":"Journal of Business Finance &amp Accounting","issn_l":"0306-686X","issn":["0306-686X","1468-5957"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business Finance &amp; Accounting","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"hybrid","oa_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12736","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5039755612","display_name":"Mariya N. Ivanova","orcid":"https://orcid.org/0000-0002-8970-8253","observed_orcids":["https://orcid.org/0000-0002-8970-8253"]},"institutions":[{"id":"https://openalex.org/I180242103","display_name":"Stockholm School of Economics","ror":"https://ror.org/01s5jzh92","country_code":"SE","type":"education","lineage":["https://openalex.org/I180242103"]}],"countries":["SE"],"is_corresponding":true,"raw_author_name":"Mariya N. Ivanova","raw_affiliation_strings":["Department of Accounting, Stockholm School of Economics, Stockholm, Sweden"],"raw_orcid":"https://orcid.org/0000-0002-8970-8253","affiliations":[{"raw_affiliation_string":"Department of Accounting, Stockholm School of Economics, Stockholm, Sweden","institution_ids":["https://openalex.org/I180242103"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101496382","display_name":"Henrik Nilsson","orcid":"https://orcid.org/0000-0002-3230-7096","observed_orcids":["https://orcid.org/0000-0002-3230-7096"]},"institutions":[{"id":"https://openalex.org/I180242103","display_name":"Stockholm School of Economics","ror":"https://ror.org/01s5jzh92","country_code":"SE","type":"education","lineage":["https://openalex.org/I180242103"]}],"countries":["SE"],"is_corresponding":false,"raw_author_name":"Henrik Nilsson","raw_affiliation_strings":["Department of Accounting, Stockholm School of Economics, Stockholm, Sweden"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting, Stockholm School of Economics, Stockholm, Sweden","institution_ids":["https://openalex.org/I180242103"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5039340401","display_name":"Milda Tylaite","orcid":"https://orcid.org/0000-0002-2878-9969","observed_orcids":["https://orcid.org/0000-0002-2878-9969"]},"institutions":[{"id":"https://openalex.org/I180242103","display_name":"Stockholm School of Economics","ror":"https://ror.org/01s5jzh92","country_code":"SE","type":"education","lineage":["https://openalex.org/I180242103"]}],"countries":["SE"],"is_corresponding":false,"raw_author_name":"Milda Tylaite","raw_affiliation_strings":["Department of Accounting, Stockholm School of Economics, Stockholm, Sweden"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Accounting, Stockholm School of Economics, Stockholm, Sweden","institution_ids":["https://openalex.org/I180242103"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5039755612"],"corresponding_institution_ids":["https://openalex.org/I180242103"],"apc_list":{"value":3450,"currency":"USD","value_usd":3450},"apc_paid":{"value":3450,"currency":"USD","value_usd":3450},"fwci":11.0291,"has_fulltext":true,"cited_by_count":19,"citation_normalized_percentile":{"value":0.98129802,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":99},"biblio":{"volume":"51","issue":"1-2","first_page":"595","last_page":"630"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12509","display_name":"Corporate Insolvency and Governance","score":0.7821999788284302,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12509","display_name":"Corporate Insolvency and Governance","score":0.7821999788284302,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.14100000262260437,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11653","display_name":"Financial Distress and Bankruptcy Prediction","score":0.07419999688863754,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/corporate-directors","display_name":"corporate directors","score":0.6899999976158142},{"id":"https://openalex.org/keywords/chief-executive-officers","display_name":"chief executive officers","score":0.8410000205039978},{"id":"https://openalex.org/keywords/corporate-financial-risk","display_name":"corporate financial risk","score":0.7369999885559082},{"id":"https://openalex.org/keywords/bankruptcy-risk","display_name":"bankruptcy risk","score":0.6629999876022339},{"id":"https://openalex.org/keywords/cost-of-debt","display_name":"cost of debt","score":0.9110000133514404},{"id":"https://openalex.org/keywords/corporate-risk-taking","display_name":"corporate risk-taking","score":0.6600000262260437},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"corporate governance","score":0.5299999713897705}],"concepts":[{"id":"https://openalex.org/C504631918","wikidata":"https://www.wikidata.org/wiki/Q152074","display_name":"Bankruptcy","level":2,"score":0.8713012933731079},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6813902258872986},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5546850562095642},{"id":"https://openalex.org/C2777840570","wikidata":"https://www.wikidata.org/wiki/Q1187312","display_name":"Yesterday","level":2,"score":0.5348241329193115},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.5188390016555786},{"id":"https://openalex.org/C80515813","wikidata":"https://www.wikidata.org/wiki/Q1134763","display_name":"Corporate finance","level":2,"score":0.4774872958660126},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.4700927436351776},{"id":"https://openalex.org/C4163816","wikidata":"https://www.wikidata.org/wiki/Q757382","display_name":"Insolvency","level":2,"score":0.4379868805408478},{"id":"https://openalex.org/C76073288","wikidata":"https://www.wikidata.org/wiki/Q1337875","display_name":"Financial risk","level":2,"score":0.4225027859210968},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.40129274129867554},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C1276947","wikidata":"https://www.wikidata.org/wiki/Q333","display_name":"Astronomy","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1111/jbfa.12736","doi":"https://doi.org/10.1111/jbfa.12736","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jbfa.12736","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12736","source":{"id":"https://openalex.org/S48254654","display_name":"Journal of Business Finance &amp Accounting","issn_l":"0306-686X","issn":["0306-686X","1468-5957"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business Finance &amp; Accounting","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.1111/jbfa.12736","doi":"https://doi.org/10.1111/jbfa.12736","is_oa":true,"landing_page_url":"https://doi.org/10.1111/jbfa.12736","pdf_url":"https://onlinelibrary.wiley.com/doi/pdfdirect/10.1111/jbfa.12736","source":{"id":"https://openalex.org/S48254654","display_name":"Journal of Business Finance &amp Accounting","issn_l":"0306-686X","issn":["0306-686X","1468-5957"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-2","jufo-2","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Business Finance &amp; Accounting","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4380362829.pdf","grobid_xml":"https://content.openalex.org/works/W4380362829.grobid-xml"},"referenced_works_count":73,"referenced_works":["https://openalex.org/W20182383","https://openalex.org/W1513613701","https://openalex.org/W1589685494","https://openalex.org/W1598648218","https://openalex.org/W1677595927","https://openalex.org/W1907498074","https://openalex.org/W1933743464","https://openalex.org/W1968750526","https://openalex.org/W1991011913","https://openalex.org/W2007516423","https://openalex.org/W2010133294","https://openalex.org/W2026217192","https://openalex.org/W2046442255","https://openalex.org/W2048801439","https://openalex.org/W2055587473","https://openalex.org/W2062669916","https://openalex.org/W2063824310","https://openalex.org/W2066777296","https://openalex.org/W2078129874","https://openalex.org/W2081742146","https://openalex.org/W2085682938","https://openalex.org/W2086440694","https://openalex.org/W2091475988","https://openalex.org/W2091596451","https://openalex.org/W2094262603","https://openalex.org/W2104474292","https://openalex.org/W2104700746","https://openalex.org/W2115412054","https://openalex.org/W2118143693","https://openalex.org/W2124532504","https://openalex.org/W2126186544","https://openalex.org/W2132726456","https://openalex.org/W2151428644","https://openalex.org/W2154400539","https://openalex.org/W2154836052","https://openalex.org/W2166513723","https://openalex.org/W2320339790","https://openalex.org/W2331500008","https://openalex.org/W2526322108","https://openalex.org/W2590819638","https://openalex.org/W2890069351","https://openalex.org/W2891796810","https://openalex.org/W2946010675","https://openalex.org/W3045551298","https://openalex.org/W3107653915","https://openalex.org/W3121216826","https://openalex.org/W3121335133","https://openalex.org/W3121947872","https://openalex.org/W3122037897","https://openalex.org/W3122061236","https://openalex.org/W3122178960","https://openalex.org/W3122467057","https://openalex.org/W3122723388","https://openalex.org/W3122783918","https://openalex.org/W3122897775","https://openalex.org/W3123937770","https://openalex.org/W3124064480","https://openalex.org/W3124112088","https://openalex.org/W3124595561","https://openalex.org/W3124698732","https://openalex.org/W3124843136","https://openalex.org/W3124905972","https://openalex.org/W3125202361","https://openalex.org/W3125302922","https://openalex.org/W3125347257","https://openalex.org/W3125717595","https://openalex.org/W3126010942","https://openalex.org/W3126083986","https://openalex.org/W3159181423","https://openalex.org/W3172212025","https://openalex.org/W3206138818","https://openalex.org/W4252449759","https://openalex.org/W4291143678"],"related_works":["https://openalex.org/W3159181423","https://openalex.org/W2901673974","https://openalex.org/W4402334366","https://openalex.org/W4408320916","https://openalex.org/W3172212025","https://openalex.org/W4246869899","https://openalex.org/W2597008555","https://openalex.org/W7213538927","https://openalex.org/W3125302922","https://openalex.org/W7025186548"],"abstract_inverted_index":{"Abstract":[0],"Using":[1],"a":[2,51,60,125],"large":[3],"sample":[4],"of":[5,20,28,63,88,117,127],"Swedish":[6],"private":[7],"firms,":[8],"we":[9,85],"investigate":[10],"the":[11,14,25,104,115],"link":[12],"between":[13],"prior":[15,120],"corporate":[16,47,53,73,77,142],"bankruptcy":[17,54],"experiences":[18],"(BEs)":[19],"directors":[21,37,94],"and":[22,24,38,56,75,93,141],"CEOs":[23,39,92],"financial":[26,48,129],"risk":[27,55,81,130],"their":[29,132],"current":[30,76],"firms.":[31,133],"We":[32],"find":[33,86],"that":[34,114],"firms":[35],"with":[36,68,119],"previously":[40],"involved":[41,95],"in":[42,96],"bankruptcies":[43],"exhibit":[44],"more":[45],"aggressive":[46],"policies,":[49],"have":[50],"higher":[52,61,128],"are":[57,100],"subject":[58],"to":[59,138],"cost":[62],"debt.":[64],"Our":[65],"findings":[66],"align":[67],"an":[69],"innate":[70],"characteristics":[71],"explanation:":[72],"BEs":[74],"risk\u2010taking":[78,105],"reflect":[79],"personal":[80],"preferences.":[82],"Furthermore,":[83],"while":[84],"evidence":[87],"income":[89],"losses":[90,99],"for":[91,131],"bankruptcies,":[97],"such":[98],"transient,":[101],"potentially":[102],"explaining":[103],"behavior":[106],"after":[107],"experiencing":[108],"bankruptcy.":[109],"Overall,":[110],"our":[111],"results":[112],"suggest":[113],"presence":[116],"individuals":[118],"BE":[121],"can":[122],"be":[123],"considered":[124],"signal":[126],"This":[134],"insight":[135],"is":[136],"relevant":[137],"regulators,":[139],"lenders":[140],"decision\u2010makers.":[143]},"counts_by_year":[{"year":2026,"cited_by_count":4},{"year":2025,"cited_by_count":6},{"year":2024,"cited_by_count":8},{"year":2023,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2023-06-13T00:00:00"}
