عنوان مقاله [English]
This paper has investigated the model relationship between turnaround strategies and business performance of firms in crisis. The objective of this study are explanatory-descriptive. The sample is the senior managers of accepted firms in Tehran Stock Exchange which experienced reduction of net income indicators and return on assets at least two consecutive years, during 1385-1391 and afterward, they experienced performance improvement for two consecutive years (successful turnaround) and/or their reduction in performance index continued for two other consecutive years (unsuccessful turnaround). Data of the questionnaire was analyzed by Spearman correlation coefficients and partial correlation coefficients. According to the results, significant relationship exists among debt restructuring, cost reduction, operating asset reduction, Portfolio-Asset investment, changes in product offering, changes in market entry strategies and business performance of firms in crisis. However, relationship between Portfolio-Asset divestment strategy and business performance was not accepted. The effect of company size and government assistance on relationship between turnaround strategies and business performance were not accepted as well
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