Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2017.1383177
Insolvency in the Republic of Croatia
Zvonimira Šverko Grdić
orcid.org/0000-0002-9029-6487
; Faculty of Tourism and Hospitality Management Opatija, Opatija, Croatia
Marinela Krstinić Nižić
orcid.org/0000-0002-0042-7608
; Faculty of Tourism and Hospitality Management Opatija, Opatija, Croatia
Maja Mamula
orcid.org/0000-0001-6989-045X
; Faculty of Tourism and Hospitality Management Opatija, Opatija, Croatia
Sažetak
The issue of insolvency is significantly present in countries undergoing
transition. In Croatia, there has been significant research on the
possibilities of using the existing models for determining the domestic
companies’ ability to maintain solvency. Likewise, no model based
on business enterprises’ financial data has yet been proposed, which
leaves an open space for this research. The purpose of this paper is to
calculate and analyse solvency indicators; total debt to assets ratio,
total debt to equity ratio, Altman Z-score, and the Kralicek Quick
Test. This paper analyses the financial data for the period 1996–2014
and provides evidence that the insolvency of Croatian companies
increased with the global financial crisis. Multiple regression analysis
is used in order to show the relation between total debt to assets ratio
as the dependent variable, and current assets and liabilities ratio and
dummy variables as independent variables.
The conclusions and recommendations for mitigating the impact
of insolvency in this paper would be useful for managers, public policymakers
and all stakeholders in companies with financial problems, as
well as for financially still-healthy companies.
Ključne riječi
Solvency; insolvency; economic crisis; total debt to assets ratio; Altman Z-score model and Kralicek Quick Test; regression analysis
Hrčak ID:
193206
URI
Datum izdavanja:
1.12.2017.
Posjeta: 878 *