The financial markets have undergone a significant development process, both qualitatively and quantitatively, and partly induced by major pushes for globalization and deregulation. In this context, finance has taken on an increasingly central role for companies and is now on par with production and sales, which have always been the cornerstones of business management. The effects of these structural and functional changes are not limited to the way companies operate, but also imply a change in corporate cultures; one consequence of this phenomenon is the large percentage of managers from the world of finance at the top tiers of corporate organizations. Moreover, environmental turbulence has forced companies to increasingly face negative situations characterized by economic and financial imbalances that may require far-reaching strategic changes.  

The purpose of this book, therefore, is to investigate the possible financial strategies that companies in distress can adopt; in this regard, it approaches financial strategies as opportunities to resolve and prevent difficult situations for the company. After having systematized the financial strategies and policies used in the governance of companies, the book analyzes both crises and turnaround processes, describing the path until the financial balance is restored. Finally, the authors analyze essential tools for the financial management of companies in trouble, focusing in particular on operational tools for managing the crisis, the recovery plan, and its monitoring.

Salvatore Ferri is Associate Professor in Business Economics at the University of Naples 'Parthenope', department of Business and Economics, where he teaches Strategic Management and Financial Statements. He was Visiting Professor at the University of Rome La Sapienza from 2005 to 2013 and from 2019 to now. He is a member of SIDREA (Italian Association of Professors in Accounting and Management) and AIDEA. He has articles published in Small Business Economics, Business Process Management Journal, Meditary Accountancy Research, and other leading journals. His research interests include strategic change, intangibles, firm crises and turnaround, financial instruments,performance measurement and M&A.

Federica Ricci is  Researcher in Business Economics  at the University of Rome  'Sapienza', Department of Law and Economics of Production Activities, where she teaches International Accounting. She received her PHD in Business Administration from  the University of  Cassino in 2009. She is a member of SIDREA (Italian Association of Professors in Accounting and Management) ) and AIDEA.