IDEAS home Printed from
   My bibliography  Save this article

The Economic Crisis and Working Capital Management of Companies



    (University of Economics in Prague, Czech Republic)


This article aims to highlight the impact of the economic crisis in the economy at the microeconomic level. The crisis that began in 2007 as a financial crisis, naturally grown into an economic one. Reduced availability of capital has reduced demand from vendors. It also worsened the possibility of rational adaptation, because the company had to deal with only short-term problems and there was not the opportunity and time for strategic management. The biggest problems hit the long inefficient firms(that survived only thanks to temporary excess demand) and growth-oriented businesses, which focused only on short-term time horizon. Paradoxically, firms that have had long-term ineffective conservative financing coped relatively well with the crisis by releasing detainee excessive working capital. At present there is uncertainty and companies are afraid of further development, which, as shown in the article, leads to further problems with working capital. The article is elaborated as one of outputs of researching project New theory of economy and organizations´ management and their adaptation processes registrated at MŠMT of the Czech republic under registration number MSM 6138439905.

Suggested Citation

  • Hana SCHOLLEOVA, 2012. "The Economic Crisis and Working Capital Management of Companies," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(4(569)), pages 79-92, April.
  • Handle: RePEc:agr:journl:v:4(569):y:2012:i:4(569):p:79-92

    Download full text from publisher

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:agr:journl:v:4(569):y:2012:i:4(569):p:79-92. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Marin Dinu). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.