Contemporary Trends in Bankruptcy of Enterprises in Ukraine and Measures to Prevent Their Insolvency
Journal Title: Бізнес Інформ - Year 2015, Vol 10, Issue 0
Abstract
The article is aimed at identifying the main trends in bankruptcy of enterprises in Ukraine as well as substantiation of the most appropriate measures to prevent their insolvency at the present stage of development of the national economy. The basic indicators, which characterize the status of proceedings in a case of bankruptcy of domestic enterprises in the past five years, have been specified; a comparison of them with selected indicators of other world countries has been carried out. The data obtained show the ineffectiveness and backwardness of the bankruptcy institution in Ukraine and the necessity of its perfection as well as bringing in line with international practice along with an urgent implementation of crisis management directly by enterprises. Additionally, the key causes of insolvency and bankruptcy of domestic enterprises have been identified. As a result, a number of activities has been outlined, which, according to the author, can ensure solvency and financial stability of domestic enterprises in the short and long perspective, reduce the number of bankruptcies and liquidations of enterprises, as well as to strengthen and improve the mechanism of counteraction to bankruptcy. Prospect of further research is to build a rational model for a system of crisis management, which would take into account peculiarities of the national economy and the needs of individual enterprises.
Authors and Affiliations
Deniza Dolbneva
Keywords
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