Analiza učinka predstečajne nagodbe na financijsko stanje društava

master's thesis

• Title (english): Analysis of the impact of pre-bankruptcy settlement on companies' financial state
• Author: Ivan Melada
• Mentor: Andrija Sabol (mentor)
• Committee member: Davor Zoričić (predsjednik povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Managerial Economics); Zagreb
• Defense date and country: 2020-06-15, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics

Abstract

Tema ovog diplomskog rada je prikaz financijskog stanja i rezultata odabranih društava koja su sklopila predstečajnu nagodbu te utvrditi utječe li ispravno provedena predstečajna nagodba pozitivno na financijsko stanje društva. Izabran je uzorak od pet društava (Dalekovod d.d., Ingra d.d., Institut IGH d.d., Osijek-Koteks d.d. i OT-Optima telekom d.d.) koja su imala najveći iznos utvrđenih tražbina od dioničkih društava koja su sklopila predstečajnu nagodbu do kraja 2014. godine. Rad također sadrži pregled zakonskog okvira o predstečajnoj nagodbi tj. Zakona o financijskom poslovanju i predstečajnoj nagodbi te pregled djelovanja spomenutog zakona. Napravljena je usporedba planiranih rezultata poslovanja iz planova financijskog i operativnog restrukturiranja te ostvarenih rezultata kako bi se utvrdili efekti predstečajnih nagodbi. Promatrajući odabrana društva te njihove financijske pokazatelje, njih četiri od pet je nakon sklapanja nagodbe počelo ostvarivati pozitivne rezultate poslovanja te uredno otplaćuju svoje obveze. Iz aspekta njihova poslovanja, vidljivo je kako su ona društva koja su i prije zatražene nagodbe imala relativno uspješne poslovne rezultate, međutim kombinacijom manjka likvidnosti te sve većih obveza nisu uspjela održati pozitivne rezultate, uspjela nakon sklopljene nagodbe uspješno poslovati, ostvarivati pozitivne poslovne rezultate te uredno podmirivati svoje obveze. Slučaj društva Ingra d.d. se pokazao neuspješan zbog specifičnosti poslovanja koje zahtijeva državne garancije te je upitne održivosti. Gledajući cjelokupnu sliku, temeljenu na ovih pet društava, možemo zaključiti kako predstečajna nagodba ima pozitivne učinke na poslovanje društava.

Abstract (english)

The topic of this paper is to present the financial position and results of selected companies that have entered into a pre-bankruptcy settlement and to determine whether a properly executed pre-bankruptcy settlement has a positive effect on the financial state of the company. A sample of five companies (Dalekovod d.d., Ingra d.d., Institut IGH d.d., Osijek-Koteks d.d. and OT-Optima telekom d.d.) were selected, which had the largest amount of established claims from joint stock companies that concluded the pre-bankruptcy settlement by the end of 2014. The paper also provides an overview of the legal framework on pre-bankruptcy settlement, i.e. the Law on Financial Operations and Pre-Bankruptcy Settlement, and an overview of the operation of the said law. A comparison has been made of the planned business results from the financial and operational restructuring plans and the results achieved to determine the effects of pre-bankruptcy settlements. Looking at the selected companies and their financial indicators, four out of five of them, after concluding the settlement, started to achieve positive business results and regularly repay their obligations. From the aspect of their business, it can be seen that those companies that had relatively successful business results prior to the settlement however, with a combination of liquidity shortage and increasing liabilities, they were unable to maintain positive results, succeeded after a successful settlement to achieve positive business results and meet their obligations. The case of Ingra d.d. has proven unsuccessful due to the specifics of the business that requires government guarantees and is of questionable sustainability. Looking at the overall picture, based on these five companies, we can conclude that pre-bankruptcy settlement has positive effects on the operations of the companies.

• Keywords: poslovna analiza; financijska analiza; predstečajna nagodba; Dalekovod d.d.; Ingra d.d.; Institut IGH d.d.; Osijek-Koteks d.d.; OT-Optima telekom d.d.
• Keywords (english): business analysis; financial analysis; pre-bankruptcy settlement; Dalekovod d.d.; Ingra d.d.; Institut IGH d.d.; Osijek-Koteks d.d.; OT-Optima telekom d.d.
• Language: croatian
• URN:NBN: urn:nbn:hr:148:751389
• Study programme: Title: Business Economics; Study programme type: university; Study level: graduate; Academic / professional title: magistar/magistra ekonomije (magistar/magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to authenticated users
• Created on: 2020-06-16 07:09:31