prikaz prve stranice dokumenta Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia
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Scientific paper - Preliminary note / Short communication
Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia
Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, 36 (2023), 2; 387-398. https://doi.org/10.51680/ev.36.2.13
Pervan, Ivica; Bartulović, Marijana; Jozipović, Šime

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Pervan, I., Bartulović, M. & Jozipović, Š. (2023). Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia. Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, 36. (2), 387-398. doi: 10.51680/ev.36.2.13

Pervan, Ivica, et al. "Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia." Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, vol. 36, no. 2, 2023, pp. 387-398. https://doi.org/10.51680/ev.36.2.13

Pervan, Ivica, Marijana Bartulović and Šime Jozipović. "Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia." Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues 36, no. 2 (2023): 387-398. https://doi.org/10.51680/ev.36.2.13

Pervan, I., Bartulović, M. and Jozipović, Š. (2023) 'Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia', Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, 36(2), pp. 387-398. doi: 10.51680/ev.36.2.13

Pervan I, Bartulović M, Jozipović Š. Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia. Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues [Internet]. 2023 [cited 2024 November 04];36(2):387-398. doi: 10.51680/ev.36.2.13

I. Pervan, M. Bartulović and Š. Jozipović, "Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia", Ekonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues, vol. 36, no. 2, pp. 387-398, 2023. [Online]. Available at: https://urn.nsk.hr/urn:nbn:hr:227:532716. [Accessed: 04 November 2024]

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Metadata
Title (english)Are insolvency proceedings opened too late? The case of Germany, Croatia and Slovakia
AuthorIvica Pervan
AuthorMarijana Bartulović
AuthorŠime Jozipović
Author's institutionUniversity of Split
Faculty of economics Split
Author's institutionUniversity of Split
University Department of Forensic Sciences
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Economics
Scientific / art field,
discipline and subdiscipline		SOCIAL SCIENCES
Law
Abstract (english)
Purpose: The aim was to analyze insolvency proceedings in Germany, Croatia and Slovakia and answer the research question whether insolvency proceedings are opened too late in the observed countries and how this issue can be explained. Methodology: Comparative analysis of insolvency systems in Germany, Croatia, and Slovakia was conducted. Furthermore, the financial profile (liquidity) of firms in pre-insolvency and insolvency proceedings in Germany, Slovakia and Croatia was analyzed and respective results were compared with data on government effectiveness and the rule of law in the observed countries. The one-way ANOVA was performed to test the differences in liquidity among companies that initiated pre-insolvency and insolvency proceedings. Results: The results indicate that German companies respond to signs of crises earlier in comparison to Croatian and Slovakian companies and these differences cannot be explained only by criminal law measures which are not equally effective across jurisdictions, but they depend to a large extent on government effectiveness and the rule of law in a country. Conclusion: The results show that despite the similarities in the civil law frameworks, insolvency proceedings in Croatia and Slovakia are still initiated on average much later than in Germany. Moreover, according to the results, criminal law sanctions against the late initiation of insolvency proceedings can have preventive effects. However, while they can increase the number of timely insolvency proceedings, their effectiveness is still limited by the efficiency of the judicial system measured by the strength of institutions and their consistent application.
Keywords (english)
Languageenglish
Publication typeScientific paper - Preliminary note / Short communication
Publication statusPublished
Peer reviewPeer review
Publication versionPublished version
Journal titleEkonomski vjesnik : Review of Contemporary Entrepreneurship, Business, and Economic Issues
Numberingvol. 36, no. 2, pp. 387-398
p-ISSN0353-359X
e-ISSN1847-2206
DOIhttps://doi.org/10.51680/ev.36.2.13
URN:NBNurn:nbn:hr:227:532716
Publication2023
Document URLhttps://hrcak.srce.hr/312645
Type of resourceText
Access conditionsOpen access
Terms of useLicence Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) icon
Created on2024-06-26 10:19:07