Central European Business Review 2014, 3(1):13-19 | DOI: 10.18267/j.cebr.70

Several Conclusions from Research of Insolvency Cases in the Czech Republic

Luboš Smrčka1, Jaroslav Schönfeld2
1 Assoc. Prof. Mr. Luboš Smrčka, M.Sc., Ph.D., Department of Business Economics, Faculty of Business Administration, University of Economics, Prague, W. Churchill Square 4, 130 67 Prague 3, Tel: 00420 224 098 656, smrckal@vse.cz
2 Jaroslav Schönfeld, M.Sc., Ph.D., Department of Business Economics, Faculty of Business Administration, University of Economics, Prague, W. Churchill Square 4, 130 67 Prague 3, Tel: 00420 224 098 656, jaroslav.schonfeld@vse.cz

The survey of real outcomes of insolvency proceedings in the Czech Republic analysed by this study took place during 2012 and 2013. This is the first survey that enables (on the basis of a statistically declarative sample) the ascertainment of certain crucial data as to the actual outcome of insolvency proceedings in the Czech Republic, i.e. especially as to the yields which creditors obtain. The study analysis outcomes drawn from two waves of statistical research, compare these two waves together and place the results gained into an international context. In addition, the study also brings forward basic information on the structure of the insolvency act in the Czech Republic and possible changes in legislation that would create a more congenial environment for creditors.

Keywords: Insolvency; bankruptcy; yield for creditors; insolvency law; insolvency proceedings
JEL classification: G30, G33, K29

Received: November 12, 2013; Revised: February 28, 2014; Published: March 31, 2014  Show citation

ACS AIP APA ASA Harvard Chicago Chicago Notes IEEE ISO690 MLA NLM Turabian Vancouver
Smrčka, L., & Schönfeld, J. (2014). Several Conclusions from Research of Insolvency Cases in the Czech Republic. Central European Business Review, 3(1), 13-19. doi: 10.18267/j.cebr.70
Download citation
  • BibTeX (.bib)
  • Bookends (.ris)
  • EasyBib (.ris)
  • EndNote (.enw)
  • EndNote 8 (.xml)
  • ISI WoS (.isi)
  • Medlars (.medlars)
  • Mendeley (.ris)
  • MODS (.xml)
  • Papers (.ris)
  • RefWorks (.txt)
  • RefManager (.ris)
  • RIS (.ris)
  • MS Word (.xml)
  • Zotero (.ris)
    • Open full article

    References

    1. Blazy, R., Chopard, B., Fimayer, A., Guigou, J. D. (2011). Employment preservation vs. creditors' repayment under bankruptcy law: The French dilemma? International Review of Law and Economics, 31(2): 126-141. Go to original source...
    2. Bonaci, C. G., Strouhal, J., Müllerová, L., Roubíčková, J. (2013). Corporate Governance Debate on Professional Ethics in Accounting Profession. Central European Business Review, 2(3): 30-35. Go to original source...
    3. Creditreform (2013). Vývoj insolvencí v České republice. [available at: http://www.creditreform.cz/novinky-downloads/vyvoj-insolvenci-v-cr.html].
    4. CRIF (2013). Czech Credit Bureau - Novinky, [available at: http://www.crif.cz/Novinky/Pages/Novinky.aspx].
    5. Davydenko, S. A., Franks, J. R. (2008). Do Bankruptcy Codes Matter? A Study of Defaults in France, Germany, and the U.K. The Journal of Finance, 63(2): 565-607. Go to original source...
    6. Felcman, M. (2011). Vývoj počtu a struktury zaniklých subjektů v období 2006-2010. Ekonomika a management, 7(3).
    7. Kislingerová, E., Richter, T., Smrčka, L. (2013). Insolvenční praxe v České republice v období 2008 až 2013. Prague: C.H. Beck.
    8. Kotoučová, J. et al. (2010). Zákon o úpadku a způsobech jeho řešení (insolvenční zákon) - komentář. Prague: C.H. Beck.
    9. Lee, S. H., Yamakawa, Y., Peng, M. V., Barney, J. B. (2011). How do bankruptcy laws affects entrepreneurship development around the world? Journal of Business Venturing, 26(5): 505-620. Go to original source...
    10. MSp (2013). Insolvenční zákon - Statistiky. [available at: http://insolvencni-zakon.justice.cz/expertni-skupina-s22/statistiky.html].
    11. Richter, T. (2008). Insolvenční právo. Prague: ASPI Wolters Kluwer.
    12. Richter, T. (2011). Reorganizace povolené v třetím roce účinnosti InsZ: základní empirická pozorování a náčrt trendů. Ekonomika a management, 7(3).
    13. Richter, T. (2010). Reorganizace povolené v prvních dvou letech účinnosti InsZ: základní empirická pozorování. Obchodněprávní revue 11/2010, 339-441
    14. Schöenfeld, J., Smrčka, L., Malý T. (2013). Insolvenční řízení v České republice: Skutečný výnos věřitelů je velmi nízký, in: Sborník z mezinárodní vědecké konference Insolvence 2013 - konec jedné etapy, začátek další?, ed: Kisalingerová, E., Špička, J. Prague: Oeconomica, 89-102.
    15. Smrčka, L. (2012). Filosofické aspekty vztahu insolvenčního a exekučního práva. Komorní listy. 1 (4), 27-33.
    16. Smrčka, L., Arltová, M., Schönfeld, J. (2013). Příčiny neúspěšného prosazování sanačních postupů v insolvenční realitě. Politická ekonomie. 61(2): 188-208. Go to original source...
    17. Smrčka, L., Malý, T. (2013). Some Suggestions for Interpreting Statistical Data on Insolvency in the Czech Republic. Proceedings of the 6th International Scientific Conference: Finance and the performance of Firms in Science, Education and Practice, ed: Jirčíková, E., Knápková, A., Pastuzsková, E. Zlín: Universita Tomáše Bati, Fakulta managementu a ekonomiky, 695-706.
    18. Výzkum insolvence (2013). Databáze výzkumů, [available at: http://www.vyzkuminsolvence.cz/databaze-vyzkumu.html].
    19. WB, IFC (2013). Doing Business, [available at: http://www.doingbusiness.org/data].

    This is an open access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License (CC BY NC ND 4.0), which permits non-comercial use, distribution, and reproduction in any medium, provided the original publication is properly cited. No use, distribution or reproduction is permitted which does not comply with these terms.


    Return to the content