The Determinants of Compulsory Liquidation in the U.K
Compulsory liquidations in the United Kingdom are found to depend on profit margins, the age distribution of new firms and the change in income gearing. The results are consistent with a model where the probability of insolvency increases with a squeeze on real profits which may be caused by higher real unit labour costs or rises in real material's input costs. An increase in income gearing on outstanding debt increases the probability that creditors will institute insolvency proceedings and 'bad luck' is found to be a cause of some liquidations of newly established firms. The empirical results imply that government macroeconomic policy can have a strong influence on liquidations via changes in income gearing and changes in profitability over the economic cycle. Copyright 1996 by Blackwell Publishers Ltd and The Victoria University of Manchester
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 64 (1996)
Issue (Month): 3 (September)
|Contact details of provider:|| Postal: Manchester M13 9PL|
Phone: (0)161 275 4868
Fax: (0)161 275 4812
Web page: http://www.socialsciences.manchester.ac.uk/economics/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:bla:manch2:v:64:y:1996:i:3:p:298-308. 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: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.