Detail publikace

Liquidity, probability of bankruptcy and the corporate life cycle: the evidence from Czech Republic.

MOKHOVA, N. ZINECKER, M.

Originální název

Liquidity, probability of bankruptcy and the corporate life cycle: the evidence from Czech Republic.

Typ

článek v časopise - ostatní, Jost

Jazyk

angličtina

Originální abstrakt

The paper is focused on the analysis of liquidity and probability of bankruptcy on the different stages of the corporate life cycle (CLC) as growth, maturity and recession. After the global financial crisis (GFC) of 2007–2008 many companies have appeared at the stage of recession or even bankruptcy. This study examines the financial performances of small- and medium-sized enterprises (SMEs) in Czech Republic at the different stages of corporate life cycle during the period 2006–2010 (which includes the year before financial crisis and after). We find that corporate life cycle influences the relation between bankruptcy probability and liquidity. There is a negative and strong relation between profitability and liquidity at the stage of growth and maturity. In addition, the strong and negative relation is found between coverage ratio and liquidity ratio at the stage of decline. However, there is a weak effect of activity on liquidity at all stages of corporate life cycle.

Klíčová slova

liquidity; bankruptcy probability; growth; maturity; decline; small and medium enterprises; small- and medium-sized enterprises; SMEs; global financial crisis; GFC; Czech Republic; globalisation; small business; corporate llife cycle; CLC

Autoři

MOKHOVA, N.; ZINECKER, M.

Rok RIV

2013

Vydáno

1. 2. 2013

Nakladatel

Inderscience Enterprises Ltd.

Místo

Geneve

ISSN

1479-3067

Periodikum

International Journal of Globalisation and Small Business

Ročník

2013

Číslo

3

Stát

Švýcarská konfederace

Strany od

189

Strany do

208

Strany počet

20

BibTex

@article{BUT97982,
  author="Natalia {Mokhova} and Marek {Zinecker}",
  title="Liquidity, probability of bankruptcy and the corporate life cycle: the evidence from Czech Republic.",
  journal="International Journal of Globalisation and Small Business",
  year="2013",
  volume="2013",
  number="3",
  pages="189--208",
  issn="1479-3067"
}