difficulties of SMEs in Croatia. Data from a data base of financial reports of SMEs in Croatia managed by FINA, as well as internal … data and records of one of the major banks in Croatia were used. Data of 822 enterprises were collected and analysed. The … Croatia. …

insolvency legislation in Bulgaria, Croatia, Czech Republic, Hungary, Poland and Romania, emphasising their inherent features and … building efforts. But their approach to insolvency and their determination to use the insolvency process as a selection … mechanism have varied widely. The aim of the paper is two fold. Firstly, we identify the role of insolvency procedures in TEs …

article examines how time-varying, firm-specific variables and changes in the macroeconomic environment affect the probability … conditions. Therefore discrete-time hazard models (using logit and cloglog) are applied; these indicate that the probability of … probability of distress over time. Furthermore, the findings provide evidence that both the legal criteria and a firm's financial …