Use of court notifications for statistics on bankruptcies
Objective and implementation
Regulation (EU) 2019/2152 of the European Parliament and of the Council of November 27, 2019 on European business statistics obliges Statistics Austria to continuously compile quarterly data on bankruptcies of legal units from the first quarter of 2021 onwards. Due to the Corona crisis and the large user demand on this data, Statistics Austria decided to produce and to publish results starting already from reference year 2019.
The aim of the project is to prepare the ongoing, quarterly publication of data on bankruptcies based on the new EU regulation. In addition, potential possibilities for the further development of this area are to be explored. This includes, for example, the analysis of the feasibility of providing data on bankruptcies on a monthly basis as well as the enrichment of the database with further characteristics, like employees or regional breakdowns. A systematic interpretation of the results on bankruptcies (by economic sector) by Statistics Austria is also being considered.
In a first step the “Edikte” data (court notifications) of the Federal Ministry of Justice was linked with the statistical business register (URS) and the administrative business register (URV), analysed and statistically processed, in order to meet the legal requirements for quarterly statistics on bankruptcies from the first quarter of 2021. In a second step, an EU co-financed project is investigating whether the data can also be made available on a monthly basis. In addition, the possibilities of enriching the basic data with further characteristics, evaluating them if necessary and publishing them as so-called experimental data are investigated.
Innovation within the project
The innovation lies in the first-time use of the “Edikte” data of the Federal Ministry of Justice and in the creation of these new statistics. From the first quarter of 2021 there is a legal obligation to compile these statistics on a quarterly basis. Innovative solutions are developed for potential further development opportunities.
Interpretation of the results
This represents a new project of Statistics Austria. A systematic evaluation of the data has only started in August 2020; results will be published retrospectively back to 2019. The first regular publication of the number of bankruptcies by economic sector will take place in May 2021. With this regular publication of data, the experimental character of the legal part of the project will expire.
In Austria, there are comparable bankruptcies figures for instance from the KSV1870 Group. Although the data source used is identical, there are slight deviations from the figures published by Statistics Austria. Causes include: different coverage areas or reference times for the analysis or the assignment of the units to economic branches according to ÖNACE 2008.
However, since there are potential opportunities to further develop the statistics on bankruptcies (e.g. in the context of enriching the data with new characteristics or increasing the periodicity), the experimental part of the project will continue.
Further information, project results
More information can be found here.