Payment Bottlenecks as a Crisis Factor in European Enterprises: A Case of Poland
P. Dec and
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P. Dec: Warsaw School of Economics, Poland
P. Masiukiewicz: Warsaw School of Economics, Poland
Journal of Applied Management and Investments, 2019, vol. 8, issue 2, 78-87
The paper concerns the complex and extremely timely issue of payment bottlenecks in the economy. Thus, the phenomenon whose scale has intensified especially in recent years, among others due to the financial crisis. The occurrence of payment bottlenecks is a very serious signal that there is already a crisis in each economic entity. The authors focused on analysing the situation of enterprises in Poland in terms of delays in payments for services rendered or products sold. It was useful in research because it indicated that even in a highly economical country, which records ever-growing economic indicators, payment bottlenecks are a big problem. The scale of the problem and the lack of its solution may, in the long term, be inconvenient to reverse this period of prosperity. Therefore, the authors analysed the scale of this phenomenon in the article, the main factors associated with it, including the types of causes and risks. An important issue was the critical analysis of imperfections of procedures and regulations in this area and an indication of how much governments should do in this matter. The authors have also developed a proprietary model for detecting payment jams, which could limit the scale of this phenomenon and its potential negative consequences.
Keywords: payment delays; receivables; crisis; bankruptcy; payment gridlocks (search for similar items in EconPapers)
JEL-codes: E42 G23 G33 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ods:journl:v:8:y:2019:i:2:p:78-87
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