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Corporate Bankruptcy of Portuguese Firms

Author

Listed:
  • Cristiana P. Jardim Elisabeth T. Pereira

    (Department of Economics, Management and Industrial Engineering, University of Aveiro, Campus Universitário de Santiago, Aveiro, Portugal Department of Economics, Management and Industrial Engineering, and Research Unity in Governance, Competitiveness and Public Policies (GOVCOPP) University of Aveiro, Campus Universitário de Santiago, Aveiro, Portugal)

Abstract

Over the time has been increasing the interest in understanding the subjects of insolvency and bankruptcy due to its consequences for the country’s economic performance, and, actually, to its importance in the actual economic European context. The present work studies the evolution of bankruptcy of Portuguese fi rms in the last two decades, and obtains a set of macroeconomic factors which can explain this occurrence. It was considered the period 1990-2009, and the methodology used was a regression model including variables considerate in several empirical studies sustained in the literature review. The obtained results pointed to the relevance of macroeconomic variables as most signifi cant explanatory variables for the Portuguese case. JEL Classification: C22, G32, G33, D20

Suggested Citation

  • Cristiana P. Jardim Elisabeth T. Pereira, 2013. "Corporate Bankruptcy of Portuguese Firms," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 16(2), pages 39-56, May.
    • Handle: RePEc:zag:zirebs:v:16:y:2013:i:2:p:39-56
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    More about this item

    Keywords

    insolvency; bankruptcy; firms; internal and external causes; Portugal;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation
    • D20 - Microeconomics - - Production and Organizations - - - General

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