Održivost najvećih poslovno kontroverznih preduzeća u Srbiji

Abstract

In the period after the outbreak of the global financial crisis, the number of loss-making companies has been increasing both in EU countries and in Serbia. Their losses were often so staggering that they exceeded their own equity resulting in a negative equity. From 2008 to 2016, the total losses exceeding the net capital of the Serbian economy continued to increase at an average annual rate of 20%. The peak was reached in 2016 (1,608 billion dinars), which was 4.3 times higher compared to the year of the outbreak of the global economic crisis. This paper analyzes the performance of the biggest companies in Serbia which were making losses exceeding the equity in the period from 2008 to 2017. In the literature these companies are also referred to as 'business controversial enterprises' and 'zombie' companies. The research was conducted on a sample of 31 loss-making companies whose losses accounted for almost one-fourth of the total losses exceeding the capital value of the Serbian economy. Consequently, the restructuring of business controversial enterprises is not only the matter of their existence, but also the matter of strategic importance for the entire Serbian economy.