University of Zagreb, Faculty of Economics and Business Zagreb
Abstract
Over the time has been increasing the interest in understanding the subjects of insolvency
and bankruptcy due to its consequences for the country’s economic performance, and,
actually, to its importance in the actual economic European context. The present work
studies the evolution of bankruptcy of Portuguese fi rms in the last two decades, and obtains
a set of macroeconomic factors which can explain this occurrence. It was considered the
period 1990-2009, and the methodology used was a regression model including variables
considerate in several empirical studies sustained in the literature review. The obtained results
pointed to the relevance of macroeconomic variables as most signifi cant explanatory
variables for the Portuguese case