Liquidity, probability of bankruptcy and the corporate life cycle: the evidence from Czech Republic.
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F13%3APU102553" target="_blank" >RIV/00216305:26510/13:PU102553 - isvavai.cz</a>
Výsledek na webu
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DOI - Digital Object Identifier
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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Liquidity, probability of bankruptcy and the corporate life cycle: the evidence from Czech Republic.
Popis výsledku v původním jazyce
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 appearedat 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 theyear 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.
Název v anglickém jazyce
Liquidity, probability of bankruptcy and the corporate life cycle: the evidence from Czech Republic.
Popis výsledku anglicky
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 appearedat 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 theyear 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.
Klasifikace
Druh
J<sub>x</sub> - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)
CEP obor
AE - Řízení, správa a administrativa
OECD FORD obor
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Návaznosti výsledku
Projekt
<a href="/cs/project/GA13-38047S" target="_blank" >GA13-38047S: Strategie IPO ? specifické přístupy v regionu CEE</a><br>
Návaznosti
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Ostatní
Rok uplatnění
2013
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název periodika
International Journal of Globalisation and Small Business
ISSN
1479-3067
e-ISSN
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Svazek periodika
2013
Číslo periodika v rámci svazku
3
Stát vydavatele periodika
CH - Švýcarská konfederace
Počet stran výsledku
20
Strana od-do
189-208
Kód UT WoS článku
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EID výsledku v databázi Scopus
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