ABOUT THE INSOLVENT FIRMS IN ROMANIA IN THE PERIOD 2010- 2015
Autor (i): Nicoleta, Mihăilă
JEL: G30, G33, G34
Cuvinte cheie: firm, insolvency, economic results, interruptions
Abstract:
Insolvency is that state of an enterprise’s patrimony which is characterized by insufficiency of the financial funds available for the payment of outstanding debts. In Romania, the 2010- 2015 period is characterized by a very high level of insolvencies, which affected the national economy as a whole and the business environment, through financial and social losses (employment). In our paper we present the concept of insolvency and its determinants and try to highlight the situation of insolvent companies in Romania in the period 2010- 2015, emphasizing the insolvent firm’s profile. In this regard we use a descriptive methodology, using statistics of National Trade Register Office and economic studies of Coface, an expert in commercial risks.
Insolvency is that state of an enterprise’s patrimony which is characterized by insufficiency of the financial funds available for the payment of outstanding debts. In Romania, the 2010- 2015 period is characterized by a very high level of insolvencies, which affected the national economy as a whole and the business environment, through financial and social losses (employment). In our paper we present the concept of insolvency and its determinants and try to highlight the situation of insolvent companies in Romania in the period 2010- 2015, emphasizing the insolvent firm’s profile. In this regard we use a descriptive methodology, using statistics of National Trade Register Office and economic studies of Coface, an expert in commercial risks.
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