Possibilities For Managing Financial Crises Of Macedonian Companies

Authors : Biljana ANGELOVA, Neda PETROSKAANGELOVSKA, Marija ACKOVSKA

Pages : 106-115

Doi:10.25095/mufad.402533

View : 35 | Download : 12

Publication Date : 2017-07-15

Article Type : Research Paper

Abstract :Frequent economic crisis, led a large number of companies to cumulate losses.  On these conditions are not immune Macedonian companies, also. Such businesses, if  not undertake adequate measures, over time, become indebted and lose solvency, or are  facing a serious problem - financial crises. Considering that the recovery from financial  crisis is very difficult process, it is especially important companies to undertake certain  actions that would prevent the occurrence and escalation of the crisis. In that context, main objectives of this paper is to identify the main causes of  financial crisis of companies, briefly to present current methods of managing financial  crisis as strategies whose implementation will prevent the liquidation of companies and  to explore the level of implementation of financial restructuring, merger and acquisition  and turnaround concept in companies of Republic of Macedonia. For that purpose,  different qualitative and quantitative methods are implemented. For collecting primary  data from companies in the Republic of Macedonia, constructed questionnaire is used.  The analysis will lead to achievement of main goal of the paper and will contribute to  identify the frequently used opportunities for managing and overcoming financial crisis  of companies in the Republic of Macedonia. Findings will direct to the following: there is no unified way for managing  financial crisis, that could be applied in any company and that common in application  of current ways to overcome the financial crisis insert ignore into journalissuearticles values(turnaround concept, financial  restructuring, merger and acquisition of companies); is that their adequate  implementation contributes to improving efficiency and effectiveness in managing the  financial crisis and subsequently have positive implications company performances.
Keywords : Financial crises, companies, financial restructuring, merger and acquisition, turnaround concept

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