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Failing Concerns: Business Bankruptcy in Canada

Author

Listed:
  • Baldwin, John R.

Abstract

Bankruptcy rates have been increasing in Canada. Almost half of the firms in Canada that go bankrupt do so primarily because of their own deficiencies rather than externally generated problems. They do not develop the basic internal strengths to survive. Overall weakness in management, combined with a lack of market for their product, cause these firms to fail. This study suggests that the underlying factor contributing to financial difficulties is management failure rather than external factors associated with imperfect capital markets. Many bankrupt firms face problems in attaining financing in capital markets; but, it is the internal lack of managerial expertise in many of these firms that prevents exploration of different financing options.

Suggested Citation

  • Baldwin, John R., 1998. "Failing Concerns: Business Bankruptcy in Canada," Failing Concerns: Business Bankruptcy in Canada, Statistics Canada, Economic Analysis Division, number stcb1e.
    • Handle: RePEc:stc:stcb1e:stcb1e
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    File URL: http://www.statcan.gc.ca/bsolc/olc-cel/olc-cel?catno=61-525-X&lang=eng
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    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
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    Cited by:

    1. Baldwin, John R. & Yates, Janice, 1999. "Innovation, Training and Success," Analytical Studies Branch Research Paper Series 1999137e, Statistics Canada, Analytical Studies Branch.
    2. Sabourin, David & Baldwin, John R., 2002. "Enhancing Food Safety and Productivity: Technology Use in the Canadian Food Processing Industry," Analytical Studies Branch Research Paper Series 2002168e, Statistics Canada, Analytical Studies Branch.
    3. Grzegorz Zimon & Marek Sobolewski & Grzegorz Lew, 2020. "An Influence of Group Purchasing Organizations on Financial Security of SMEs Operating in the Renewable Energy Sector—Case for Poland," Energies, MDPI, vol. 13(11), pages 1-17, June.
    4. Timothy C. G. Fisher & Jocelyn Martel, 2003. "The Effect of Bankruptcy Reform on the Number of Corporate Reorganization Proposals," Canadian Public Policy, University of Toronto Press, vol. 29(3), pages 339-349, September.
    5. TOBBACK, Ellen & MOEYERSOMS, Julie & STANKOVA, Marija & MARTENS, David, 2016. "Bankruptcy prediction for SMEs using relational data," Working Papers 2016004, University of Antwerp, Faculty of Business and Economics.
    6. Baldwin, John R., 2000. "Innovation and Training in New Firms," Analytical Studies Branch Research Paper Series 2000123e, Statistics Canada, Analytical Studies Branch.
    7. Gaudreault, Valerie & Gellatly, Guy & Baldwin, John R., 2002. "Financing Innovation in New Small Firms: New Evidence from Canada," Analytical Studies Branch Research Paper Series 2002190e, Statistics Canada, Analytical Studies Branch.
    8. Petr Hanel, 2007. "Skills required for innovation: A review of the literature," Cahiers de recherche 07-23, Departement d'économique de l'École de gestion à l'Université de Sherbrooke.
    9. Francis Greene & Kevin Mole, 2004. "Tracking Euro preparations amongst UK SMEs," Applied Economics, Taylor & Francis Journals, vol. 36(14), pages 1537-1546.
    10. Thornhill, Stewart & Amit, Raphael, 2003. "Learning from Failure: Organizational Mortality and the Resource-based View," Analytical Studies Branch Research Paper Series 2003202e, Statistics Canada, Analytical Studies Branch.
    11. Baldwin, John R. Gellatly, Guy, 2006. "Innovation Capabilities: The Knowledge Capital Behind the Survival and Growth of Firms," The Canadian Economy in Transition 2006013e, Statistics Canada, Economic Analysis Division.

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