Payment morale as a factor in competitiveness

The aim of this bachelor thesis is to contradict or to prove a statement that payment morale of Czech companies has deteriorated because of the current financial crisis. First chapter characterizes a trade credit and risks associated with it. It provides a procedure to lower risks using credit management in order to prevent bad debts. Bad debts always result in higher costs for companies and threaten their stability, payment morale as well as its competitiveness. Second chapter describes institutions which examine payment morale of companies in the world. Based on their research, payment morale of Czech companies is evaluated in comparison with neighbouring and European countries. It also examines changes in credit management of companies during the crisis as one of the factors that influences their payment discipline.