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Article

The Role of Information in Assessing the Risk of Conducting Bankruptcy Proceedings

by 1,* and 2
1
Institute of Economics, Finance and Management, Faculty of Management and Social Communication, Jagiellonian University, ul. Łojasiewicza 4, Room 2.378, 30-348 Kraków, Poland
2
Department of Accounting, College of Management and Quality Sciences, Institute of Management, Cracow University of Economics, ul. Rakowicka 27, 31-510 Kraków, Poland
*
Author to whom correspondence should be addressed.
Academic Editor: Zbysław Dobrowolski
Risks 2021, 9(4), 64; https://doi.org/10.3390/risks9040064
Received: 28 February 2021 / Revised: 21 March 2021 / Accepted: 29 March 2021 / Published: 1 April 2021
(This article belongs to the Special Issue Risk in Contemporary Management)
Modern management means making managerial decisions in many situations—including the administrative ordering of matters of a bankrupt enterprise. The situation in which the court approves the opening of bankruptcy proceedings is strictly regulated by law. This does not mean, however, that such a decision is made under conditions of certainty as to its consequences. The risk of making a wrong decision has significant consequences for everyone who is interested in it (the bankrupt company, its partners, employees, banks, the tax office). The purpose of this article is to explain the importance and significance of the various types of information that are used to reliably assess the value of a failing enterprise’s assets. The information of individual types is analyzed in the decision-making process which leads to the right decision on whether to start bankruptcy proceedings. Therefore, in the theoretical part, the authors prepare a list of types of information used in the mentioned process. Then the authors present the results of a survey (103 specialists in the field of bankruptcy), which allows to assess the real meaning of information of individual types. The main contribution for which the present paper is responsible is the description of the verified tool which functioned in the form of the survey that was applied in the study and the result arising from conducting it. This survey was used to achieve the main objective that was focused on constructing the hierarchy of significance of different types of information relating to the risk of conducting bankruptcy proceedings. The main findings show that in general insolvency specialists prioritize the information (financial and also not financial) not originating from financial reporting. View Full-Text
Keywords: information management; risk management; bankruptcy proceedings; sustainability information management; risk management; bankruptcy proceedings; sustainability
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MDPI and ACS Style

Baran, M.; Bauer, K. The Role of Information in Assessing the Risk of Conducting Bankruptcy Proceedings. Risks 2021, 9, 64. https://doi.org/10.3390/risks9040064

AMA Style

Baran M, Bauer K. The Role of Information in Assessing the Risk of Conducting Bankruptcy Proceedings. Risks. 2021; 9(4):64. https://doi.org/10.3390/risks9040064

Chicago/Turabian Style

Baran, Michał, and Kinga Bauer. 2021. "The Role of Information in Assessing the Risk of Conducting Bankruptcy Proceedings" Risks 9, no. 4: 64. https://doi.org/10.3390/risks9040064

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