Finanční charakteristiky podniků před vyhlášením moratoria

Financial Characteristics of Pre-Moratorium Companies

Jaroslav Schönfeld, Michal Kuděj and Luboš Smrčka

Politická ekonomie, 2019, vol. 2019, issue 5, 490-510

Abstract: This article presents the outcome of research focused on financial characteristics of companies declaring a moratorium. The key purpose of the moratorium is to avoid threatening bankruptcy. The aim of the research is to identify the financial situation of the companies entering the moratorium process. The main objective was to find the answer to the core question whether there is any chance of avoiding bankruptcy using the moratorium, that is, whether the moratorium fulfils its basic function. The research is based on a quantitative analysis of selected financial ratios and synthetic indicators and their mutual relations. The analysis looks for an answer to what financial indicator levels were characteristic for the companies launching the moratorium mode of operation and what these levels indicated. The research results prove that the financial situation of the companies entering the moratorium process was unsatisfactory. It is even possible to conclude that the companies were in the last stage of their corporate crisis. This situation shows that the probability of avoiding bankruptcy was extremely low.

Keywords: moratorium; bankruptcy; financial indicators; bankruptcy models (search for similar items in EconPapers)
JEL-codes: G32 G33 K22 M21 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://polek.vse.cz/doi/10.18267/j.polek.1247.html (text/html)
http://polek.vse.cz/doi/10.18267/j.polek.1247.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlpol:v:2019:y:2019:i:5:id:1247:p:490-510

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
http://polek.vse.cz

DOI: 10.18267/j.polek.1247

Access Statistics for this article

Politická ekonomie is currently edited by Jiřina Bulisová

More articles in Politická ekonomie from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().