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Abstract(s)
As empresas não duram para sempre, pois normalmente todas passam pelo mesmo processo: nascem, vivem e morrem. Umas não passam pela vivência, visto não atingirem o período suficiente para se estabelecer no mercado, ao passo que outras o conseguem fazem por tempo suficiente para se considerar com uma grande longevidade, surgindo então a temática de insolvência.
Para se conseguir uma boa gestão das organizações, deve-se procurar antecipar o risco de insolvência que a mesma corre. É então que surgem os modelos de insolvência. A insolvência financeira começou a ser estudada nos anos sessenta, e teve como pioneiros neste estudo os investigadores Beaver (1966) e Altman (1968). Estes representaram uma era de mudança que permitiu a investigadores vindouros desenvolverem modelos próprios baseados nas investigações pioneiras de Beaver e Altman.
Mais tarde, após o desenvolvimento dos modelos, começaram a ser criados novos modelos baseados em dados não financeiros que vieram revolucionar e completar os modelos até à altura criados, aproximando-se então o mais possível da realidade.
Defende-se então que os fenómenos externos que envolvem uma entidade, em conjunto com os internos, estão na base das insolvências das empresas. No entanto, o aspeto mais credível são as informações financeiras das empresas.
O estudo tem então como objetivo retratar a realidade das empresas insolventes nos últimos cinco anos em Portugal, percebendo em que ponto atingiram, e qual o principal motivo dessa situação.
The companies do not last forever, there is a process in their development: born, live and die. Some of them do not pass through the experience, as they do not reach long enough to establish on the market, as others have the maturity to live long enough to be considered in this study. In order to achieve a better organizational management, it is important to anticipate the insolvency risk that the companies take. It is then that the insolvency models arise. The financial insolvency began to be studied in the sixties, and had as pioneers in this study the researchers Beaver (1966) and Altman (1968). These represented an era of change that allowed the researchers to develop their own models based on the pioneer research of Beaver and Altman. Later, after the models development, they began to create new models based on non-financial data that have revolutionized and complete models at the time, as approaching as possible to the reality. It is argued then that both, external an internal, phenomena involving an entity are the basis of the insolvency of companies. However, the most credible aspect is the company’s financial information. The study then aims to portray the reality of insolvent companies in the last five years in Portugal, realizing at that point reached, and that the main reason for this situation.
The companies do not last forever, there is a process in their development: born, live and die. Some of them do not pass through the experience, as they do not reach long enough to establish on the market, as others have the maturity to live long enough to be considered in this study. In order to achieve a better organizational management, it is important to anticipate the insolvency risk that the companies take. It is then that the insolvency models arise. The financial insolvency began to be studied in the sixties, and had as pioneers in this study the researchers Beaver (1966) and Altman (1968). These represented an era of change that allowed the researchers to develop their own models based on the pioneer research of Beaver and Altman. Later, after the models development, they began to create new models based on non-financial data that have revolutionized and complete models at the time, as approaching as possible to the reality. It is argued then that both, external an internal, phenomena involving an entity are the basis of the insolvency of companies. However, the most credible aspect is the company’s financial information. The study then aims to portray the reality of insolvent companies in the last five years in Portugal, realizing at that point reached, and that the main reason for this situation.
Description
“Esta versão contém as críticas e sugestões dos elementos do júri”
Keywords
Insolvência Previsão de insolvência Informação financeira Credores financeiros Insolvency Stakeholders Insolvency prevision Financial information