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Threat of Insolvency of Private Sector Companies on the Example of Poland, Czech Republic and Slovakia

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  • Justyna Franc-Dabrowska

    (Warsaw University of Life Science, Poland)

  • Malgorzata Porada-Rochon

    (University of Szczecin, Poland)

Abstract

Changeability of environment causes that companies are more often vulnerable to functioning in a crisis. Managers around the world identify liquidity management as the primary driver of their decisions. In the turbulent environment in times of financial crisis, liquidity becomes more difficult but also more important. Especially since the crisis leads to erosion of liquidity and even insolvency. Many researches examine the phenomenon of the lack of liquidity taking into consideration different perspective. Therefore, it is important to study the phenomenon of insolvency, determinants that shape it as well as seek opportunities to reduce the risk of this problem.

Suggested Citation

  • Justyna Franc-Dabrowska & Malgorzata Porada-Rochon, 2013. "Threat of Insolvency of Private Sector Companies on the Example of Poland, Czech Republic and Slovakia," Diversity, Technology, and Innovation for Operational Competitiveness: Proceedings of the 2013 International Conference on Technology Innovation and Industrial Management, ToKnowPress.
  • Handle: RePEc:tkp:tiim13:s2_88-97
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    References listed on IDEAS

    as
    1. Shleifer, Andrei & Vishny, Robert W, 1992. " Liquidation Values and Debt Capacity: A Market Equilibrium Approach," Journal of Finance, American Finance Association, vol. 47(4), pages 1343-1366, September.
    2. Bhagat, Sanjai & Moyen, Nathalie & Suh, Inchul, 2005. "Investment and internal funds of distressed firms," Journal of Corporate Finance, Elsevier, vol. 11(3), pages 449-472, June.
    3. Ivo Welch, 2011. "Two Common Problems in Capital Structure Research: The Financial‐Debt‐To‐Asset Ratio and Issuing Activity Versus Leverage Changes," International Review of Finance, International Review of Finance Ltd., vol. 11(1), pages 1-17, March.
    4. Carlos A. Molina & Lorenzo A. Preve, 2009. "Trade Receivables Policy of Distressed Firms and Its Effect on the Costs of Financial Distress," Financial Management, Financial Management Association International, vol. 38(3), pages 663-686, September.
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