Enterprise bankruptcy in Lithuania
Since the re‐establishment of the independence, Lithuania has undergone major changes in the sphere of economy and had to re‐orientate it towards a new (economic) market system, to enter new markets, and to restructure the economy. The shift in business conditions has given rise to numerous upheaval...
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| Format: | Article |
| Language: | English |
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Vilnius Gediminas Technical University
2004-03-01
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| Series: | Journal of Business Economics and Management |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/JBEM/article/view/8179 |
| _version_ | 1819279883256201216 |
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| author | Aldona Garškiene Kristina Garškaite |
| author_facet | Aldona Garškiene Kristina Garškaite |
| author_sort | Aldona Garškiene |
| collection | DOAJ |
| description | Since the re‐establishment of the independence, Lithuania has undergone major changes in the sphere of economy and had to re‐orientate it towards a new (economic) market system, to enter new markets, and to restructure the economy. The shift in business conditions has given rise to numerous upheavals, including the bankruptcy of enterprises, which had detrimental economic and social consequences (one of such evils was increasing unemployment). However, it is also necessary to point out the positive role of the bankruptcy, which is related to a growing competition in the contemporary market economy and the acceleration of changes allowing the best companies alone to survive on the market. A positive improvement in the legal basis of bankruptcy and restructuring leaves the hope that the number of bankrupt companies will decrease. Moreover, in order to reduce the bankruptcy risk, it is necessary to create a system of bankruptcy prevention.
First Published Online: 14 Oct 2010 |
| first_indexed | 2024-12-24T00:34:58Z |
| format | Article |
| id | doaj.art-52e332203fef4587aa3ae6273ba0ec36 |
| institution | Directory Open Access Journal |
| issn | 1611-1699 2029-4433 |
| language | English |
| last_indexed | 2024-12-24T00:34:58Z |
| publishDate | 2004-03-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Business Economics and Management |
| spelling | doaj.art-52e332203fef4587aa3ae6273ba0ec362022-12-21T17:24:06ZengVilnius Gediminas Technical UniversityJournal of Business Economics and Management1611-16992029-44332004-03-015110.3846/16111699.2004.9636068Enterprise bankruptcy in LithuaniaAldona Garškiene0Kristina Garškaite1Vilnius Gediminas Technical University , Saulêtekio al. 11, Vilnius‐40, LT‐10223, LithuaniaVilnius Gediminas Technical University , Saulêtekio al. 11, Vilnius‐40, LT‐10223, LithuaniaSince the re‐establishment of the independence, Lithuania has undergone major changes in the sphere of economy and had to re‐orientate it towards a new (economic) market system, to enter new markets, and to restructure the economy. The shift in business conditions has given rise to numerous upheavals, including the bankruptcy of enterprises, which had detrimental economic and social consequences (one of such evils was increasing unemployment). However, it is also necessary to point out the positive role of the bankruptcy, which is related to a growing competition in the contemporary market economy and the acceleration of changes allowing the best companies alone to survive on the market. A positive improvement in the legal basis of bankruptcy and restructuring leaves the hope that the number of bankrupt companies will decrease. Moreover, in order to reduce the bankruptcy risk, it is necessary to create a system of bankruptcy prevention. First Published Online: 14 Oct 2010https://journals.vgtu.lt/index.php/JBEM/article/view/8179enterprise bankruptcyenterprise bankruptcy statistics in Lithuanialegal basis of enterprise bankruptcy and restructuringbankruptcy riskbankruptcy prevention |
| spellingShingle | Aldona Garškiene Kristina Garškaite Enterprise bankruptcy in Lithuania Journal of Business Economics and Management enterprise bankruptcy enterprise bankruptcy statistics in Lithuania legal basis of enterprise bankruptcy and restructuring bankruptcy risk bankruptcy prevention |
| title | Enterprise bankruptcy in Lithuania |
| title_full | Enterprise bankruptcy in Lithuania |
| title_fullStr | Enterprise bankruptcy in Lithuania |
| title_full_unstemmed | Enterprise bankruptcy in Lithuania |
| title_short | Enterprise bankruptcy in Lithuania |
| title_sort | enterprise bankruptcy in lithuania |
| topic | enterprise bankruptcy enterprise bankruptcy statistics in Lithuania legal basis of enterprise bankruptcy and restructuring bankruptcy risk bankruptcy prevention |
| url | https://journals.vgtu.lt/index.php/JBEM/article/view/8179 |
| work_keys_str_mv | AT aldonagarskiene enterprisebankruptcyinlithuania AT kristinagarskaite enterprisebankruptcyinlithuania |