Failing Concerns: Business Bankruptcy in Canada
Bankruptcy rates have been increasing in Canada. Almost half of the firms in Canada that go bankrupt do so primarily because of their own deficiencies rather than externally generated problems. They do not develop the basic internal strengths to survive. Overall weakness in management, combined with a lack of market for their product, cause these firms to fail. This study suggests that the underlying factor contributing to financial difficulties is management failure rather than external factors associated with imperfect capital markets. Many bankrupt firms face problems in attaining financing in capital markets; but, it is the internal lack of managerial expertise in many of these firms that prevents exploration of different financing options.
|This book is provided by Statistics Canada, Economic Analysis Division in its series Failing Concerns: Business Bankruptcy in Canada with number stcb1e and published in 1998.|
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