Isakova Yu.V.National Research University – Higher School of Economics (NRU – HSE), Moscow, Russian Federation iyv3@yandex.ru ORCID id: not available
Subject. This article analyzes the law enforcement and economic practices of the use of the terms Solvency and Insolvency, assesses their identity and belonging to Law or Economics. Objectives. The article aims to justify the need for a clearer application of the term Insolvency for economic relations, legal relations, and relations arising on the interfaces between Law and Economics within the framework of economic expertise. Methods. For the study, we used general scientific cognition methods, systems approach, logical generalization, and abstraction. Results. The article says that while the economic essence of the categories of Solvency and Insolvency seems to be different in the opposite sign only, at first glance, in the economic and legal field, they have different meanings. This cannot be ignored in scientific and practical activities in related areas of Law and Economics interaction, such as the application of bankruptcy law and expertise, for example. Conclusions and Relevance. The terms Solvency and Insolvency should be distinguished. While the meanings are opposite apparently, there are differences in the term interpretation for the purposes of economic assessments of the financial standing and legal estimates of insolvency to establish bankruptcy. The results of the study are intended to develop theoretical views on economic categories of solvency and their status in legal relations. They can be used for scientific and practical activities related to economic expertise, solvency analysis, and for teaching legal disciplines on bankruptcy and expertise.
Endovitskii D.A. [A factor analysis of the solvency of a commercial organization]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2006, vol. 5, iss. 9, pp. 2–8. URL: Link (In Russ.)
Babicheva N.E., Lyubushin N.P., Kondrat'ev R.Yu. [The going concern concept in the assessment of creditworthiness of economic entities]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2017, vol. 16, iss. 10, pp. 1840–1858. (In Russ.) URL: Link
Ushvitskii L.I., Savtsova A.V., Maleeva A.V. [Improvement of methods for analyzing the solvency and liquidity of organizations]. Finansy i kredit = Finance and Credit, 2006, vol. 12, iss. 15, pp. 12–17. URL: Link (In Russ.)
Rychkova N.S., Krasnova M.V. [Features of the assessment of liquidity of assets of the debtor by arbitration manager]. Sibirskaya finansovaya shkola = Siberian Financial School, 2016, no. 4, pp. 142–145. URL: Link (In Russ.)
Sergienko O.V. [Probability of bankruptcy: business financial future projections]. Vestnik Saratovskogo gosudarstvennogo sotsial'no-ekonomicheskogo universiteta = Vestnik of Saratov State Social and Economic University, 2015, no. 2, pp. 84–88. URL: Link (In Russ.)
Glushchenko A.V., Samedova E.N., Temnikov V.A. [A company's financial risk assessment and management: The practical aspects of implementation for small and medium-sized businesses]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2020, vol. 23, iss. 6, pp. 643–666. (In Russ.) URL: Link
Shimko O.V. [Analyzing the liquidity ratios of the world's leading public oil and gas corporations]. Finansy i kredit = Finance and Credit, 2020, vol. 26, iss. 7, pp. 1571–1589. (In Russ.) URL: Link
Levchaev P.A., Khezazna B. [Specifics of strategic financial planning of enterprise activity in the digital economy]. Finansy i kredit = Finance and Credit, 2020, vol. 26, iss. 3, pp. 499–507. (In Russ.) URL: Link
Serebryakova T.Yu., Gordeeva O.G. [The impact of IFRS on results of the analysis of PAO Rostelecom financial position]. Mezhdunarodnyi bukhgalterskii uchet = International Accounting, 2016, vol. 19, iss. 18, pp. 2–17. URL: Link (In Russ.)
Pokrovskii I.A. Istoriya Rimskogo prava [History of Roman law]. Minsk, Kharvest Publ., 2002, pp. 135–136.
Olinichenko K.V., Kuz'micheva I.A. [Business failures and system of criteria of their insolvency]. Mezhdunarodnyi zhurnal prikladnykh i fundamental'nykh issledovanii = International Journal of Applied and Fundamental Research, 2015, no. 6-2, pp. 318–322. URL: Link (In Russ.)
Koraev K.B. [Insolvency – the new institute of contemporary law]. Rossiiskaya yustitsiya = Russian Justitia, 2016, no. 9, pp. 19–22. URL: Link (In Russ.)
Filatov V.D. [Actual features of a debtor legal entity in competitive relations]. Novyi yuridicheskii vestnik, 2019, no. 3, pp. 27–30. URL: Link (In Russ.)
