Results from Researching Insolvency Processes in the Czech Republic

Our work stems from the hypothesis that insolvency processes and results are fundamental information for entrepreneurial subjects about the measure of risk which has to be considered during economic activities in individual countries. (Insolvenn zen v esk republice: skuten vnos vitel je velmi nzk. S...

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Bibliographic Details
Published in:International advances in economic research 2015-03, Vol.21 (1), p.123-124
Main Authors: Smrcka, Lubos, Schonfeld, Jaroslav, Maly, Tomas
Format: Article
Language:English
Subjects:
Bankruptcy
Economic Growth
Economics
Economics and Finance
Insolvency
International Economics
Macroeconomics/Monetary Economics//Financial Economics
Microeconomics
Proposals
Research Note
Responsible persons
Risk assessment
Studies
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Summary:Our work stems from the hypothesis that insolvency processes and results are fundamental information for entrepreneurial subjects about the measure of risk which has to be considered during economic activities in individual countries. (Insolvenn zen v esk republice: skuten vnos vitel je velmi nzk. Schnfeld, Smrka, and Mal. 2013 ISBN: 978-80-245-1927-2.) Risk is always assessed upon entry into market relations and becomes a part of the price or availability of products or services. The basic survey results find that, while insolvency proceedings in the CR proceed fairly quickly and are not in any way disproportionately prolonged, expenses for proceedings are relatively significant and creditor satisfaction especially is very low. This applies to non-secured creditors, but surprisingly also to secured creditors. The yield for secured creditors is in the vicinity of slightly lower that 25 % of the enforced sum. The yield for non-secured creditors, however, borders on roughly three per cent.
ISSN:1083-0898
1573-966X
DOI:10.1007/s11294-014-9502-z