engleski

Time limits Efficiency in Bankruptcy: Empirical Research in Croatia

World crises, limitations of domestic markets and inflexibility of management lead to increasing number of companies entering into bankruptcy. Bankruptcy costs depreciate company assets. The aim of this study is to perform the first research based on actual data on the duration of bankruptcy procedures on a sample of 457 bankruptcies completed in Croatia in last 3 years. The results of the research show that the average duration of bankruptcy procedures is 3.2 years, which is close to the figure produced by the research of the World Bank but still far from time limit of 1.5 years set by law.

business failures ; bankruptcy ; economic causes ; inefficient management ;

nije evidentirano