Is the commercial debt default ratio a reliable indicator of the short-term financial sustainability of Portuguese local governments?

• Autorzy: Santos Paula Gomes , Martinho Carla , Albuquerque Fabio

Identyfikatory

DOI

10.17512/pjms.2021.24.1.19

Warianty tytułu

PL

Czy współczynnik zadłużenia komercyjnego jest wiarygodnym wskaźnikiem krótkoterminowej zrównoważoności finansowej portugalskich samorządów lokalnych?

• Języki publikacji: EN

Abstrakty

EN

The Directive 2011/7/EU implementation is assessed through the Commercial Debt Default (CDD) ratio. However, there is not a common measure of that ratio amongst the Member States. This paper aims to analyse whether the CDD defined by Portugal is a reliable indicator for measuring the short-term financial sustainability of Portuguese local governments. The research is based on the IMF's transparency framework and European and Portuguese legislation on late payments. Statistical analysis was performed using Pearson's correlation and simple linear regression to assess whether the unpaid commitments of goods and services explain the short-term debts. Thus, by evaluating the budget and financial information consistency, the paper approach represents a novelty in this research area. The findings identify that the CDD of Portuguese local governments is not a reliable indicator of their short-term debt sustainability. The information is not consistent, and the indicator is permeable to creative accounting practices that give the illusion of a financial situation that may not be real.

PL

Implementacja Dyrektywy 2011/7/UE oceniana jest za pomocą wskaźnika CDD (Commercial Debt Default). Nie ma jednak wspólnej miary tego stosunku wśród państw członkowskich. Niniejszy artykuł ma na celu zbadanie, czy CDD zdefiniowany przez Portugalię jest wiarygodnym wskaźnikiem pomiaru krótkoterminowej stabilności finansowej portugalskich samorządów lokalnych. Badanie opiera się na zasadach przejrzystości MFW oraz europejskich i portugalskich przepisach dotyczących opóźnień w płatnościach. Przeprowadzono analizę statystyczną przy użyciu korelacji Pearsona i prostej regresji liniowej, aby ocenić, czy niespłacone zobowiązania dotyczące towarów i usług wyjaśniają długi krótkoterminowe. Zatem, oceniając spójność budżetu i informacji finansowych, podejście papierowe stanowi nowość w tym obszarze badawczym. Wyniki wskazują, że CDD portugalskich samorządów lokalnych nie jest wiarygodnym wskaźnikiem ich krótkoterminowej zdolności do obsługi zadłużenia. Informacje nie są spójne, a wskaźnik jest przepuszczalny dla kreatywnych praktyk księgowych, które dają złudzenie sytuacji finansowej, która może nie być rzeczywista.

Słowa kluczowe

EN

accountability; consistency; local government; financial sustainability; transparency

PL

rozliczalność; spójność; samorządy; stabilność finansowa; przejrzystość

• Wydawca: Czestochowa University of Technology
• Czasopismo: Polish Journal of Management Studies
• Rocznik: 2021
• Tom: Vol. 24, No. 1
• Strony: 322--336
• Opis fizyczny: Bibliogr. 46 poz., tab.

Twórcy

autor

Santos Paula Gomes

• ISCAL Instituto Politécnico de Lisboa
• COMEGI

autor

Martinho Carla

• ISCAL Instituto Politécnico de Lisboa

autor

Albuquerque Fabio

• ISCAL Instituto Politécnico de Lisboa

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