DETERMINANT MACROECONOMIC FACTORS ON THE BANKRUPTCY OF ECONOMIC ENTITIES

Abstract

The bankruptcy of economic entities is an extremely important phenomenon in the market economy, especially in the challenging times we live in today. The economy of the countries of the world knows permanent turbulence, a so-called 'polycrisis' in which various, sometimes simultaneous, influences are felt from several sides, which can destabilize and worsen the situation of economic entities. For this reason, a permanent attention is required regarding the evolution of the bankruptcies of the countries of the world in order to prevent or anticipate possible risks and thus to avoid as much as possible the failures of enterprises. The study aims to identify the links, relations and the influence of macroeconomic factors on the bankruptcy of organizations at the level of the European Union, after carrying out a bibliometric analysis to identify what is the current level of knowledge as well as future research directions. Based on econometric modeling, we identified how these macroeconomic factors influence, confirming the fact that they have a decisive impact on the evolution of bankruptcies registered at the level of the European Union.