Sócios/administradores de empresas em recuperação judicial que foram à falência voltam a empreender?

Abstract

This work analyzed the decision-making by the partners/managers of companies, of the most varied sizes and segments, that joined the RJ – Judicial Recovery. The problem studied was to investigate whether the former partner(s) of the company(ies) in RJ opened a new company after adhering to the legal instrument, and, if they had thought of undertaking it, if they remained in the same sector or preferred another, in cases where the company in RJ went bankrupt. For this purpose, a sample composed of 1814 companies that joined the mechanism in the period between 06/27/2005 and 08/20/2020, listed at the National Bankruptcy and Judicial Recovery Bank, hosted at the TST - Superior Labor Court was used. Judicial Recovery, in short, is a legal instrument by which the company tries to reach an agreement with its creditors for the payment of debts, to allow the organization to be, in a certain way, preserved, in a way that it can avoid its bankruptcy. The Logit binary response model was used, where the binary dependent variable (dummy) chosen was (1 = resumed undertaking and 0 = did not return) and exposition of descriptive results. It is expected, through explanatory variables such as: region, debt, number of creditors, time, gender, etc. or companies, such as size, estimating the chances of an individual returning or not to undertake after the company of which he was a partner/manager enters RJ. The study found evidence that the partners of micro and large companies are more willing to return to work in the same sector than the owners of small companies. Other results obtained, this time through regressions, indicate that the industry sector is less likely to go bankrupt, while companies located in the South have increased chances. Other evidence found indicates that the greater the indebtedness, the less chance of undertaking again, as well as a longer time also decreases the chances of returning to a new society and that undertaking in the South region is more difficult, reducing the chance of a return. The results also show a positive relationship between total debt and those who chose to return to undertake in the same sector, indicating that the greater the indebtedness, the greater the chances of choosing to return to work in the same sector. At the same time, this last analysis indicates a negative relationship with time, that is, the longer the company has been, the lower the chances of the partners returning to undertake in the same sector.