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Bankruptcy and What Cause It

Author

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  • Maria VASILE (BUDUI)

    (Brăila, Romania)

Abstract

This paper investigates bankruptcy as an economic, social, and historical phenomenon, focusing on the causes of its occurrence and its significance in the evolution of economic activity. Bankruptcy is often perceived as a financial defeat, but in reality, it is the result of more complex processes, such as bad managerial decisions, lack of adaptability to market changes, systemic disruptions or even political crises. In addition to the contemporary analysis of bankruptcy, the study offers an interesting foray into history, exploring the first documented bankruptcy – the financial collapse of an ancient state, which highlights the fact that this problem is not new at all. Through a combination of theoretical analysis, historical examples, and critical reflections, the paper aims to contribute to a better understanding of the mechanisms of bankruptcy and to highlight useful lessons for the present by providing historical examples in this regard.

Suggested Citation

  • Maria VASILE (BUDUI), 2025. "Bankruptcy and What Cause It," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 6(4), pages 54-59, April.
    • Handle: RePEc:ahd:journl:v:6:y:2025:i:4:p:54-59
    DOI: 10.37945/cbr.2025.04.06
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    More about this item

    Keywords

    bankruptcy; insolvency; economic causes; financial history; crisis; poor management; economic collapse;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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