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Impacts of Macroeconomic Factors on Insolvency: Case of Romanian Companies

Author

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  • Anisoara Niculina Apetri

    (Stefan cel Mare University of Suceava, Romania)

  • Ancuta-Anisia Chelba

    (Stefan cel Mare University of Suceava, Romania)

Abstract

Macroeconomic factors leave their mark on the continuity of companies, and studying their impact on corporate insolvency is welcome, especially in the current economic, social and political context. The purpose of this research paper is to survey representatives of 140 companies in Romania in order to present the situation regarding the impact of macroeconomic factors on company insolvency, as well as to analyze the number of insolvencies in Romania and the correlation between GDP and the number of insolvencies in Romania. The first objective is to review the specialized literature on the topic of insolvency, macroeconomic factors and the impact of these factors on corporate insolvency, and the second objective is focused on the analysis of the companies in the research sample. The results consist of providing an overview of the companies in Romania regarding the impact of macroeconomic factors on insolvency. The companies included in the questionnaire sample were analyzed between November 2022 and August 2023.

Suggested Citation

  • Anisoara Niculina Apetri & Ancuta-Anisia Chelba, 2025. "Impacts of Macroeconomic Factors on Insolvency: Case of Romanian Companies," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 2, pages 22-26.
    • Handle: RePEc:ddj:fseeai:y:2025:i:2:p:22-26
    DOI: https://doi.org/10.35219/eai15840409506
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    References listed on IDEAS

    as
    1. Peiró, Amado, 2016. "Stock prices and macroeconomic factors: Some European evidence," International Review of Economics & Finance, Elsevier, vol. 41(C), pages 287-294.
    2. Anisoara APETRI & Ancuta-Anisia CHELBA, 2024. "Crisis And The Financial Difficulty Within The Enterprise Framework €“ An Overall View Of Romania," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 12(3), pages 3-11, October.
    3. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
    4. Denis Kušter & Bojana Vuković & Sunčica Milutinović & Kristina Peštović & Teodora Tica & Dejan Jakšić, 2023. "Early Insolvency Prediction as a Key for Sustainable Business Growth," Sustainability, MDPI, vol. 15(21), pages 1-24, October.
    5. Malgorzata Porada-Rochon & Justyna Franc-Dabrowska & Radoslaw Suwala, 2017. "Eliminating the Effects of the Companies Insolvency Risk:A Model Approach," World Journal of Applied Economics, WERI-World Economic Research Institute, vol. 3(1), pages 21-37, June.
    6. Adegbemi Babatunde Onakoya & Ayooluwa Eunice Olotu, 2017. "Bankruptcy and Insolvency: An Exploration of Relevant Theories," International Journal of Economics and Financial Issues, Econjournals, vol. 7(3), pages 706-712.
    7. Julio Pindado & Luis F. Rodrigues, 2004. "Parsimonious Models of Financial Insolvency in Small Companies," Small Business Economics, Springer, vol. 22(1), pages 51-66, February.
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