Concept information
social science subjects
business and management
international business
economics of international business
Preferred term
bankruptcy
Definition
- Bankruptcy is the legal state of being unable to make good on one's debts. Originally a crime—the accusatory origins of the word are retained when we refer to someone as “morally bankrupt”—ideas about and practices concerning bankruptcy have evolved over thousands of years, changing as do economic systems. [Source: Encyclopedia of Business in Today's World; Bankruptcy]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/bankruptcy
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