Analysis of Bankrupt Companies in the Czech Republic and Factors Indicating Impending Insolvency

This thesis focuses on the analysis of companies in the Czech Republic that entered into insolvency between 2009 and the present, aiming to identify factors that may have indicated the approaching insolvency. The objective is to determine whether there are common patterns in the financial data of insolvent companies and whether these differ from trends observed in companies that did not become insolvent. The research applies a combination of quantitative and qualitative methods. The quantitative part tests hypotheses concerning differences in selected financial indicators between insolvent and solvent companies and tracks the development of these indicators over time. The qualitative part is based on interviews with experts such as insolvency administrators, representatives of the banking sector, and specialists in insolvency law. The results show that significant differences between companies are observable as early as three years prior to insolvency, and that key financial indicators deteriorate progressively as insolvency approaches. The expert interviews confirm that companies often respond too late, primarily due to behavioral factors and managerial failures, rather than shortcomings in the legal framework.