20.500.12556/DKUM-92951-653767cf-d647-66c0-1a81-b9983464c15b What is the relationship between sales growth and insolvency risk? Kakšna je povezava med rastjo prodaje in tveganjem plačilne nesposobnosti Sales growth is essential for an enterprise’s survival and financial growth. If an enterprise manages to achieve sales growth, its expansion can be accomplished. However, does sales growth always have only positive effects? If the enterprise is not collecting enough cash, it can miss a payment on its debt, triggering a series of events that can lead to its insolvency. The goal of the paper is to explore the relationship between an enterprise's sales growth and its insolvency. The relationship is tested empirically on the data set of 4271 SMEs in Croatia. The results confirmed that there is a relationship between sales growth and insolvency. Better indicators exist with solvent and growing SMEs than with insolvent and non-growing. Results have also shown that high growth can be at the same time a high risk. The paper contributes to a deeper understanding of the relationship between sales growth and insolvency and empirically demonstrates that sales growth over 200% per year induces the highest probability of insolvency compared to other lower levels of growth. Rast prodaje je bistvenega pomena za preživetje in finančno rast podjetij. Če podjetjem uspe doseči rast prodaje, lahko dosežejo širitev celotnega podjetja. Vendar ali ima vedno le pozitivne učinke? Če podjetje ne zbere dovolj gotovine, lahko to povzroči, da zamudi plačilo dolga, kar sproži vrsto dogodkov, ki lahko pripeljejo do njegove plačilne nesposobnosti. Cilj tega prispevka je raziskati razmerje med rastjo prodaje in plačilno nesposobnostjo. Povezava je empirično preverjena na podatkovnem nizu 4271 malih in srednje velikih podjetij na Hrvaškem. Rezultati so potrdili, da obstaja povezava med rastjo prodaje in plačilno nesposobnostjo. Boljši kazalniki obstajajo pri solventnih in rastočih MSP kot pri insolventnih in nerastočih. Rezultati so pokazali tudi, da je lahko visoka rast hkrati tudi visoko tveganje. Članek prispeva k globljemu razumevanju razmerja med rastjo in plačilno nesposobnostjo ter empirično dokazuje, da rast prodaje nad 200 % na leto povzroča največjo verjetnost plačilne nesposobnosti v primerjavi z drugimi nižjimi stopnjami rasti. SMEs growth insolvency risk sales growth financial indicators insolvency prevention bankruptcy finance gospodarska rast prodaja nelikvidnost Hrvaška true false true Angleški jezik Slovenski jezik Znanstveno delo 2025-05-28 11:58:16 2025-05-28 11:58:16 2025-06-06 03:06:48 0000-00-00 00:00:00 2023 0 0 str. 1-11 no. 3 Vol. 69 2023 0000-00-00 Zaloznikova Objavljeno NiDoloceno 0000-00-00 0000-00-00 2023-10-04 339.72.053.1(497.5) 195272195 10.2478/ngoe-2023-0013 0547-3101 https://journals.um.si/index.php/oe/article/view/3165 1 4712c2fc-3baa-11f0-a3df-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=191384 https://journals.um.si/index.php/oe/article/view/3165 1 be8fd1ac-4211-11f0-9cf0-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=191809 RAZ_Sarlija_Natasa_2023.pdf RAZ_Sarlija_Natasa_2023.pdf 1 B105CF542A36ECBBC48BB583A8F894BD 0d9b54c8c6068d2381cddd45ba7415f6bec80bc066a7701633b27f60a01fc7b7 8540b431-3baa-11f0-a3df-00155d000105 https://dk.um.si/Dokument.php?lang=slv&id=191385 Ekonomsko-poslovna fakulteta Naše gospodarstvo 0 0 0