THE BANCRUPTCY IN THE CZECH REPUBLIC - INFLUENCE OF MACROECONOMIC VARIABLES

Abstract

This article deals with the bankruptcy of entrepreneurial subjects and how bankruptcy rate is affected by macroeconomic variables. The article is based on the time series for the period from 1993 to 2012. The article analyses the influence of GDP, indebtedness of companies, inflation and interest rates on the number of declared bankruptcies. There might be supposed positive or negative correlation between GDP, indebtedness of companies, inflation and interest rates and the number of declared bankruptcies. Also there is tested lag in correlation between number of declared bankruptcies and GDP, indebtedness of companies, inflation and interest rates. My findings in this article confirm strong correlation between GDP, indebtedness of companies, inflation and interest rates and the number of declared bankruptcies. Keywords: