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Bankruptcy models : verifying their validity as a predictor of corporate failure

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Warianty tytułu
PL
Modele upadłości : weryfikowanie ich ważności jako czynnik prognostyczny niepowodzenia korporacyjnego
Języki publikacji
EN
Abstrakty
EN
Although the issue of corporate failure analysis is a hot topic for business research since the last century, even nowadays there are numerous researches focusing on assessing the financial health of companies. Within increasing internationalization and globalization the demand for bankruptcy prediction is important not only for owners of the companies, but also for other interested groups. We aim to test the validity of prediction models developed as partial results of our research project. Bankruptcy prediction models were constructed on the data set of Slovak companies covering the year 2015 and based on the various statistical methodologies. We provided the validity of these models and their prediction accuracy on the data set of Slovak companies covering the following year 2016.
PL
Chociaż kwestia analizy niepowodzenia korporacyjnego jest gorącym tematem badań biznesowych od zeszłego wieku, nawet obecnie prowadzone są liczne badania skupiające się na ocenie kondycji finansowej firm. W warunkach rosnącej internacjonalizacji i globalizacji zapotrzebowanie na prognozy bankructwa jest ważne nie tylko dla właścicieli firm, ale także dla innych zainteresowanych grup. Celem artykułu jest sprawdzenie ważności modeli prognostycznych opracowanych jako częściowe wyniki projektu badawczego przez autorów. Modele przewidywania bankructwa zostały zbudowane na zbiorze danych słowackich firm w roku 2015 na podstawie różnych metodologii statystycznych. Zapewniona została poprawność tych modeli i dokładność ich prognozowania na zbiorze danych słowackich firm obejmująca rok 2016.
Rocznik
Strony
167--179
Opis fizyczny
Bibliogr. 42 poz., tab.
Twórcy
autor
  • University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics
autor
  • University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics
autor
  • University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics
autor
  • University of Zilina, Faculty of Operation and Economics of Transport and Communications, Department of Economics
autor
  • University of Novi Sad, Faculty of Technical Sciences, Department of Industrial Engineering and Management
autor
  • University of Novi Sad, Faculty of Technical Sciences, Department of Industrial Engineering and Management
Bibliografia
  • 1. Adamko P., Svabova L., 2016, Prediction of the risk of bankruptcy of Slovak companies, Proceedings of 8th International Scientific Conference Managing and Modelling of Financial Risks, Ostrava, Czech Republic, 1, 15-20.
  • 2. Agrawal K., Maheshwari Y., 2016, Predicting financial distress: revisiting the option-based model, “South Asian Journal of Global Business Research”, 5(2).
  • 3. Alaka A.H., ed., 2018, Systematic review of bankruptcy prediction models: Toward framework for tool selection, “Expert System with Applications”, 94.
  • 4. Antonowicz P., 2014, The multi-dimensional structural analysis of bankruptcy of enterprises in Poland in 2013 - results of empirical studies, “Journal of International Studies”, 7(1).
  • 5. Baulina O.A., Klyushin V.V., 2017, Methodical bases of formation of investment policy of enterprises of construction materials industry, “Ekonomicko-manazerske spectrum”, 11(2).
  • 6. Becser N., Zoltay Paprika Z., 2016, Patterns in the lottery game, “Forum Scientiae Oeconomia”, 4(1).
  • 7. Boratyńska K., 2014, The Theoretical Aspects of Measuring the Costs of Corporate Bankruptcy, “Equilibrium. Quarterly Journal of Economics and Economic Policy”, 9(3).
  • 8. Braciníková V., Matušínská K., 2017, Marketing mix of financial services from the customers perspective, “Forum Scientiae Oeconomia”, 5(4).
  • 9. Brada J.C., 1993, The comparative economics of bankruptcy - dealing with loss-making firms in capitalist, socialist, and transitional economies, “Eastern European Economics”, 31(4).
  • 10. Brozyna J., Mentel G., Pisula T., 2016, Statistical methods of the bankruptcy prediction in the logistics sector in Poland and Slovakia, “Transformations in Business & Economics”, 15(1).
  • 11. Delina R., Packova M., 2013, Prediction bankruptcy models validation in Slovak business environment, “E & M Ekonomie a management”, 16(3).
  • 12. Dixon Ch., 2016, Why the Global Financial Crisis Had So Little Impact on the Banking Systems of Emergent East Asia, “Journal of Self-Governance and Management Economics”, 4(2).
  • 13. Esty D.C., 2017, Toward a Sustainable Global Economy: An Initiative for G20 Leadership, “Journal of Self-Governance and Management Economics”, 5(2).
  • 14. Fitzpatrick P., 1932, A comparison of ratios of successful industrial enterprises with those of failed firms, “Certified Public Accountant”, 2.
  • 15. Gavurova B., ed., 2017, Analysis of Impact of Using Trend Variables on Bankruptcy Prediction Models Performance, “Ekonomicky Casopis”, 65(4).
  • 16. Kaminskyi A., Versal N., 2018, Risk Management of Dollarization in Banking: Case of Post-Soviet Countries, “Montenegrin Journal of Economics”, 14(2).
  • 17. Kliestik T., ed., 2018, Bankruptcy prevention: new effort to reflect on legal and social changes, “Science and Engineering Ethics”, 24(2).
  • 18. Koisova, E., ed., 2017, SMEs Financing as an Important Factor of Business Environment in Slovak Republic Regions, “Montenegrin Journal of Economics”, 13(2).
  • 19. Kovacova M., Kliestik T., 2017, Logit and Probit application for the prediction of bankruptcy in Slovak companies, “Equilibrium. Quarterly Journal of Economics and Economic Policy”, 12(4).
  • 20. Liang D., ed., 2015, The effect of feature selection on financial distress prediction, “Knowledge-Based Systems”, 73.
  • 21. Mendelova V., Bielikova T., 2017, Diagnosing of the Corporate Financial Health Using DEA: An Application to Companies in the Slovak Republic, “Politicka Ekonomie”, 65(1).
  • 22. Mihalovic M., 2016, Performance Comparison of Multiple Discriminant Analysis and Logit Models in Bankruptcy Prediction, “Economics and Sociology”, 9(4).
  • 23. Misankova M., Zvarikova K., Kliestikova J., 2017, Bankruptcy practice in countries of Visegrad four, “Economics and Culture”, 14(1).
  • 24. Narkunienė J., Ulbinaitė A., 2018, Comparative analysis of company performance evaluation methods, “Entrepreneurship and Sustainability Issues”, 6(1).
  • 25. Peres C., Antao M., 2017, The use of multivariate discriminant analysis to predict corporate bankruptcy: A review, “Aestimatio-The IEB International Journal of Finance”, 14.
  • 26. Ravi Kumar P., Ravi V., 2007, Bankruptcy prediction in banks and firms via statistical and intelligent techniques-A review, “European Journal of Operational Research”, 180(1).
  • 27. Rybarova D., Braunova M., Jantosova L., 2016, Analysis of the Construction Industry in the Slovak Republic by Bankruptcy Model, “Procedia Social and Behavioral Sciences”, 230.
  • 28. Sadaf R., ed., 2018, An investigation of the influence of the worldwide governance and competitiveness on accounting fraud cases: A cross-country perspective, “Sustainability”, 10.
  • 29. Schonfelder B., 2003, Debt collection and bankruptcies in Slovakia: A study of institutional development, “Post-Communist Economies”, 15(2).
  • 30. Shi L., Sheng P., Vochozka M., 2017, The reduction cost of nonperforming loan: evidence from China’s commercial bank, “Applies Economics Letters”, 24(7).
  • 31. Spahn P., 2017, Central Bank Support for Government Debt in a Currency Union, “Journal of Self-Governance and Management Economics”, 5(4).
  • 32. Svabova L., Durica M., 2016, Correlation analysis of predictors used in bankruptcy prediction models in Slovakia, “Ekonomicko-manazerske spectrum”, 10(1).
  • 33. Svabova L., Kral P., 2016, Selection of predictors in bankruptcy prediction models for Slovak companies, Proceedings of 10th International days of statistics and economics, Prague, Czech Republic, 1759-1768.
  • 34. Szetela B., Mentel G., Brozyna J., 2016, In search of insolvency among European countries, “Economic Research - Ekonomska Istrazivanja”, 29(1).
  • 35. Tinoco M.H., Wilson N., 2013, Financial distress and bankruptcy prediction among listed companies using accounting, market and macroeconomic variables, “International Review of Financial Analysis”, 30.
  • 36. Valaskova K., Kliestik T., Kovacova M., 2018, Management of financial risks in Slovak enterprises using regression analysis, “Oeconomia Copernicana”, 9(1).
  • 37. Weissova I., 2016, Applicability of selected predictive models in the Slovak companies, [In:] New Trends in Finance and Accounting, Springer Proceedings in Business and Economics, Prague, Czech Republic.
  • 38. Weissova I., Durica M., 2016, The possibility of using prediction models for monitoring the financial health of Slovak companies, Proceedings of 8th International Scientific Conference on Managing and Modelling of Financial Risks, Ostrava, Czech Republic, 1062-1070.
  • 39. Wilson N., Ochotnicky P., Kacer M., 2016, Creation and destruction in transition economies: The SME sector in Slovakia, “International Small Business Journal”, 34(5).
  • 40. Zemguliene J., Valukonis M., 2018, Structured literature review on business process performance analysis and evaluation, “Entrepreneurship and Sustainability Issues”, 6(1).
  • 41. Zopounidis C., Doumpos M., 2002, Multi-group discrimination using multi-criteria analysis: Illustrations from the field of finance, “European Journal of Operational Research”, 139(2).
  • 42. Zvarikova K., Spuchlakova E., Sopkova G., 2017, International comparison of the relevant variables in the chosen bankruptcy models used in the risk management, “Oeconomia Copernicana”, 8(1).
Uwagi
Opracowanie rekordu w ramach umowy 509/P-DUN/2018 ze środków MNiSW przeznaczonych na działalność upowszechniającą naukę (2018).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-d2725b87-364f-4e7f-98fd-2bfd357c958e
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