ANALYSIS OF DISCRIMINANT MODELS IN FORECASTING BANKRUPTCY OF ENTERPRISES

Volodymyr SYBIRTSEV, Vitalii MAZHARA, Vasyl MOSKALENKO

Abstract


The problem of bankruptcy forecasting has a special place among the theoretical and practical problems of enterprise management. Ukraine is a transition country, characterized by instability of many factors of the external environment of entrepreneurship. Therefore, effective management of enterprises requires not only financial analysis of the current situation, but also diagnostics for possible bankruptcy in the future.

The use of bankruptcy forecasting techniques is appropriate and useful for both enterprises themselves - for preventive crisis management based on the early detection of signs of deterioration of their situation, and their business partners, as well as credit organizations that will assess the risk of lending to firms of borrowers, controllers and fiscal authorities.


Keywords


bankruptcy, discriminant models, crisis situation, financial insolvency of enterprises, bankruptcy probability, diagnostics, enterprise, monitoring

References


Altman, E. (1968). Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. The Journal of Finance, Vol. 23 (4), pp. 589-609.

Altman, E. I.; Haldeman, R.; Narayanan, P. (1977). ZETA analysis, a new model for bankruptcy classification. Journal ofBanking and Finance 1(1): p.29-54.

Beaver H. William (1966) Financial Ratios As Predictors of Failure. Journal of Accounting Research, Vol. 4, Empirical Research in Accounting: Selected Studies 1966 (1966), pp. 71-111

Beaver, W. H.; McNichols, M. F.; Rhie, Jung-Wu (2005). Have financial statements become less informative? Evidence from the ability of financial ratios to predict bankruptcy, Be view of Accounting Studies 10: p. 95-122.

Chesser, D. (1974). Predicting Loan Noncompliance. The Journal of Commercial Bank Lending, Vol. 56 (12), pp. 28-38

Davydova H. V., Belykov A. Y. (1999). Metodyka kolychestvennoi otsenky ryska bankrotstva predpryiatyi. Upravlenye ryskom. № 3. S. 13-20.

Hauser, R.P. and Booth, D. (2011). Predicting Bankruptcy with Robust Logistic Regression. Journal of Data Science, Vol 9, pp. 565-584.

Ohlson J. (1980). Financial Ratios and the Probabilistic Prediction of Bankruptcy. Journal of Accounting Research. № 18. pp. 109-131.

Fulmer J., Moon J., Gavin T., Erwin M. (1984) A Bankruptcy Classification Model for Small Firms. Journal of Commercial Bank Lending. pp. 25-37.

Springate, Gordon L.V. (1978). Predicting the Possibility of Failure in a Canadian Firm. Unpublished M.B.A. Research Project. Simon Fraser University.

Taffler R. J., Tisshaw H.J. (1977). Going, Going, Gone, Four Factors Which Predict. Accountancy. № 88 (1003). pp. 50-52, 54.

Tereshchenko O.O. (2003), Discriminant model of the inte grated assessment of the fiancial condition of the enterprise. Ekonomika Ukrainy, no. 8, pp. 38-44.

Matviichuk A. V. (2015). Nechitki, neiromerezhevi ta dyskryminantni modeli diahnostuvannia mozhlyvosti bankrutstva pidpryiemstv. Retrieved from: http://oaji.net/articles/2015/1846-1428045809.pdf (Accessed: 20.11.2019).

Matviichuk A. V. (2006). Dyskryminantna model otsinky ymovirnosti bankrutstva. Modeliuvannia ta informatsiini systemy v ekonomitsi. K.: KNEU, 2006. Vyp. 74. S. 299-314.

Zmijewski Mark E. (1984). Methodological Issues Related to the Estimation of Financial Distress Prediction Models. Journal of Accounting Research (Suppl.). № 22. pp. 59-82.

Database of financial statements of Ukrainian enterprises (2019). Retrieved from: https://smida.gov.ua/db (Accessed: 20.11.2019).


Full Text: PDF (Українська) PDF

Refbacks

  • There are currently no refbacks.
Archive
2015 4 12   24 33  
2016 1 2   3 4  
2017 1 2 (V.1) 2 (V.2) 3 4 (V.1) 4 (V.2)
2018 1 2   3 4  
2019 1 2   3 4  
2020 1 2   3 4  
2021            

User

Information

Journal Content

Browse

Language