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Creditors payout from debtors operating income - Economic analysis
Zdeněk, Jakub ; Gutiérrez Chvalkovská, Jana (advisor) ; Čornanič, Aleš (referee)
Insolvency act in force - Act 182/2006 Coll., represents disruptive chance in bankruptcy approach on corporation level. The most revolutionary change is possibility of company reorganization with no doubts. This thesis deals with economic rationality behind bankruptcy, mainly with economic rationality behind reorganization. The thesis is economic analysis of input for decision-making process whether debtor if proper candidate for restructuring and process of creditors payout from debtors operating income during reorganization. The thesis contains original qualitative research of sample of allowed reorganization aimed on comparison of theoretical finding with reality. There is a theoretical model of bankrupted company where all theoretical findings are demonstrated in a last part of this thesis JEL Classification G33, G34, L25, L61 Keywords Bankruptcy, Restructuring, Company Crisis, Firm Performance, Creditor payout Author's e-mail zdejak@seznam.cz Supervisor's e-mail jana.chvalkovska@gmail.com
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Set of Tools for Corporate Crisis Prevention
Stehlíková, Anna ; Kislingerová, Eva (advisor) ; Hučka, Miroslav (referee) ; Kusák, Michal (referee)
Abstract: The doctor's dissertation paper addresses the social problem, how business units should use the standard economic tools to prevent crisis. The importance of the problem is supported by the fact, that last year more than eleven thousand economic entities in the Czech Republic became insolvent. The Set of Tools for Corporate Crisis Prevention shall help to better adjust the internal control mechanisms, using which businesses could better prevent crisis. Application of this Set of Tools for Corporate Crisis Prevention is verified based on two completely different companies. The dissertation addresses the question of how use standard tools such as loan and leasing for crisis prevention, possibly secure the recovery of growth opportunities. This support is implemented by using an external financial institution, or the Intercompany bank. In the chapter entitled "intercompany bank", I describe the basic principles of operation and its importance for internal control. This internal organization has been used in many companies, but today is back to support the sales department and help reduce risk associated with the greater indebtedness of the company. I am describing the Intercompany bank in the context of internal processes and forms of cooperation with the sales department. Functionality of the intercompany bank is supplemented with examples from practice. The chapter called "Micro-enterprise approach of the crisis" is complemented by the complexity of internal financial perspective to company's management. This chapter describes three main sources of the company crisis from a microeconomic perspective. It is decreasing demand, the impact of interest rate exchanges on corporate governance and the impact of exchange rate changes on the financial stability of the company. The analytical part of presented dissertation thesis deals with development of insolvency proposal, bankruptcy, and reorganization proposals in The Czech Republic between 2008 and 2013. The main target is finding the causal dependences between insolvency requirements in the Insolvency Register and a few key macroeconomic indicators such as GDP, unemployment rate, industrial production growth and the amount of loans granted to the corporate sector. For a more comprehensive view of insolvency arrangement of The Czech Republic is accompanied by description of the legislative settings in The UK, Germany and France. Keywords: Bankruptcy proposals, Bankrupt, Company crisis, Exchange rate, Industrial production, Insolvency, Insolvency proposals, GDP, Leasing, Reorganization, Unemployment rate.
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