FINANCIAL DISTRESS PREDICTION FOR MANUFACTURING AND COMMERCIAL
COMPANIES

D 2021

FINANCIAL DISTRESS PREDICTION FOR MANUFACTURING AND COMMERCIAL COMPANIES

SPONEROVÁ, Martina

Základní údaje

Originální název

FINANCIAL DISTRESS PREDICTION FOR MANUFACTURING AND COMMERCIAL COMPANIES

Autoři

SPONEROVÁ, Martina

Vydání

Bulgaria, NORDSCI Conference proceedings 2021, od s. 203-211, 9 s. 2021

Nakladatel

SAIMA CONSULT LTD

Další údaje

Jazyk

angličtina

Typ výsledku

Stať ve sborníku

Obor

50206 Finance

Stát vydavatele

Česká republika

Utajení

není předmětem státního či obchodního tajemství

Forma vydání

elektronická verze "online"

Odkazy

URL, NORDSCI International Conference on Social Sciences

Označené pro přenos do RIV

Ano

Kód RIV

RIV/00216224:14560/21:00122738

Organizační jednotka

Ekonomicko-správní fakulta

ISBN

978-619-7495-14-0

DOI

https://doi.org/10.32008/NORDSCI2021/B2/V4/18

Klíčová slova anglicky

bankruptcy prediction; financial distress; SME; financial indicator; logistic regression

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 16. 5. 2022 10:12, Mgr. Pavlína Kurková

Anotace

V originále

A large number of studies on bankruptcy prediction are published every year. The topic of SME failure prediction has evolved over the past decades into a relevant research area that has grown exponentially across many disciplines, including finance and management, for obvious reasons. This has been motivated by the massive toll on SMEs caused by the global crisis of 2007-2009, the recent COVID-19 crisis and the resulting need to update indicators of SME failure. Many authors during the last fifty years have examined several possibilities to predict business failure. They have studied bankruptcy prediction models under different perspectives but still could not indicate the most reliable model. This paper focuses on the Czech economy, specifically at small and medium-sized enterprises (SMEs). This article aims to find if there exist different factors that could predict bankruptcy for manufacturing and commercial companies. Considering the research objective, the following hypotheses were set: H1: Indicators used in the financial distress model for manufacturing companies differ from commercial companies.; H2: Applying a model based on different segmentation criteria improves the reliability of bankruptcy prediction. It is the ongoing research about the value of several popular bankruptcy models that are often applied, namely the Altman Z-score, the Ohlson O-score, the Zmijewski's model, the Taffler's model, and the IN05 model. The logistic regression has been used to investigate around 1800 companies, of which 308 failed during 2010 – 2017. Reached results confirm both hypotheses and some suggestions arise from it. When we develop a bankruptcy model, it is necessary to sort companies according to different criteria. It also confirms findings of the last years literature review the closer the similarity of businesses, the greater accuracy of bankruptcy models. Further, it is required to exploit common used financial indicators with a combination of modified indicators to assess the probability of bankruptcy precisely.

Návaznosti

MUNI/A/1219/2020, interní kód MU

Název: Kryptoaktiva ve finančních výkazech obchodních společností (Akronym: CAST)

Investor: Masarykova univerzita, Kryptoaktiva ve finančních výkazech obchodních společností

Citovat

SPONEROVÁ, Martina. FINANCIAL DISTRESS PREDICTION FOR MANUFACTURING AND COMMERCIAL COMPANIES. Online. In Menk Oliver. NORDSCI Conference proceedings 2021. Bulgaria: SAIMA CONSULT LTD, 2021, s. 203-211. ISBN 978-619-7495-14-0. Dostupné z: https://doi.org/10.32008/NORDSCI2021/B2/V4/18.

@inproceedings{1801117,
   author = {Sponerová, Martina},
   address = {Bulgaria},
   booktitle = {NORDSCI Conference proceedings 2021},
   doi = {https://doi.org/10.32008/NORDSCI2021/B2/V4/18},
   editor = {Menk Oliver},
   keywords = {bankruptcy prediction; financial distress; SME; financial indicator; logistic regression},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Bulgaria},
   isbn = {978-619-7495-14-0},
   pages = {203-211},
   publisher = {SAIMA CONSULT LTD},
   title = {FINANCIAL DISTRESS PREDICTION FOR MANUFACTURING AND COMMERCIAL COMPANIES},
   url = {http://www.nordsci.org},
   year = {2021}
}

TY  - CONF
ID  - 1801117
AU  - Sponerová, Martina
PY  - 2021
TI  - FINANCIAL DISTRESS PREDICTION FOR MANUFACTURING AND COMMERCIAL COMPANIES
PB  - SAIMA CONSULT LTD
CY  - Bulgaria
SN  - 9786197495140
KW  - bankruptcy prediction
KW  - financial distress
KW  - SME
KW  - financial indicator
KW  - logistic regression
UR  - http://www.nordsci.org
N2  - A large number of studies on bankruptcy prediction are published every year. The topic of SME failure prediction has evolved over the past decades into a relevant research area that has grown exponentially across many disciplines, including finance and management, for obvious reasons. This has been motivated by the massive toll on SMEs caused by the global crisis of 2007-2009, the recent COVID-19 crisis and the resulting need to update indicators of SME failure. Many authors during the last fifty years have examined several possibilities to predict business failure. They have studied bankruptcy prediction models under different perspectives but still could not indicate the most reliable model. This paper focuses on the Czech economy, specifically at small and medium-sized enterprises (SMEs). This article aims to find if there exist different factors that could predict bankruptcy for manufacturing and commercial companies. Considering the research objective, the following hypotheses were set: H1: Indicators used in the financial distress model for manufacturing companies differ from commercial companies.; H2: Applying a model based on different segmentation criteria improves the reliability of bankruptcy prediction. It is the ongoing research about the value of several popular bankruptcy models that are often applied, namely the Altman Z-score, the Ohlson O-score, the Zmijewski's model, the Taffler's model, and the IN05 model. The logistic regression has been used to investigate around 1800 companies, of which 308 failed during 2010 – 2017. Reached results confirm both hypotheses and some suggestions arise from it. When we develop a bankruptcy model, it is necessary to sort companies according to different criteria. It also confirms findings of the last years literature review the closer the similarity of businesses, the greater accuracy of bankruptcy models. Further, it is required to exploit common used financial indicators with a combination of modified indicators to assess the probability of bankruptcy precisely.
ER  -

SPONEROVÁ, Martina. FINANCIAL DISTRESS PREDICTION FOR MANUFACTURING AND COMMERCIAL COMPANIES. Online. In Menk Oliver. \textit{NORDSCI Conference proceedings 2021}. Bulgaria: SAIMA CONSULT LTD, 2021, s.~203-211. ISBN~978-619-7495-14-0. Dostupné z: https://doi.org/10.32008/NORDSCI2021/B2/V4/18.

Přehled o publikaci