Factors Affecting Bankruptcy Depending on the Size of the
Company

D 2022

Factors Affecting Bankruptcy Depending on the Size of the Company

SPONEROVÁ, Martina, Miroslav SVOBODA and Miroslav SPONER

Basic information

Original name

Factors Affecting Bankruptcy Depending on the Size of the Company

Authors

SPONEROVÁ, Martina (203 Czech Republic, guarantor, belonging to the institution), Miroslav SVOBODA (203 Czech Republic, belonging to the institution) and Miroslav SPONER (203 Czech Republic)

Edition

Cham, Německo, Sustainable Finance in the Green Economy, p. 225-236, 12 pp. 2022

Publisher

Springer

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50206 Finance

Country of publisher

Germany

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

electronic version available online

References:

Springer link

RIV identification code

RIV/00216224:14560/22:00125351

Organization unit

Faculty of Economics and Administration

ISBN

978-3-030-81662-9

DOI

http://dx.doi.org/10.1007/978-3-030-81663-6_17

Keywords in English

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

Abstract

V originále

The aim of this article is finding if there exist different factors that could predict bankruptcy depending on the size of the company and compare the differences. Our motivation is to show the most critical factors which have to be taken into attention when predicting bankruptcy. This paper focuses on the Czech economy, specifically at small and medium-sized enterprises (SMEs). 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. It uses significant predictors of these models. We have investigated around 2 800 companies from the segment small and medium-sized enterprises (SMEs), of which 638 failed during the period 2010 – 2017. We have investigated financial data for the years from 2010 to 2017. Results of the analysis confirm research hypotheses that there exist different factors which could predict bankruptcy depending on the size of the company and exploit common used financial indicators to assess the probability of bankruptcy precisely. We have found that for the segment of micro-enterprises is necessary to pay attention to liquidity and profitability. Small enterprises emphasize to leverage, liquidity and profitability while the model developed for the segment of medium-sized enterprises measures most of all leverage, liquidity and activity.

Links

MUNI/A/1120/2018, interní kód MU

Name: Vybrané aspekty rizik na finančních trzích (Acronym: VARFT)

Investor: Masaryk University, Category A

Citovat

SPONEROVÁ, Martina, Miroslav SVOBODA and Miroslav SPONER. Factors Affecting Bankruptcy Depending on the Size of the Company. Online. In Bem A., Daszynska-Zygadlo K., Hajdíková T., Jáki E., Ryszawska B. Sustainable Finance in the Green Economy. Cham, Německo: Springer, 2022, p. 225-236. ISBN 978-3-030-81662-9. Available from: https://dx.doi.org/10.1007/978-3-030-81663-6_17.

@inproceedings{1832623,
   author = {Sponerová, Martina and Svoboda, Miroslav and Sponer, Miroslav},
   address = {Cham, Německo},
   booktitle = {Sustainable Finance in the Green Economy},
   doi = {http://dx.doi.org/10.1007/978-3-030-81663-6_17},
   editor = {Bem A., Daszynska-Zygadlo K., Hajdíková T., Jáki E., Ryszawska B.},
   keywords = {bankruptcy prediction; financial distress; SME; financial indicator; logistic regression},
   howpublished = {elektronická verze "online"},
   language = {eng},
   location = {Cham, Německo},
   isbn = {978-3-030-81662-9},
   pages = {225-236},
   publisher = {Springer},
   title = {Factors Affecting Bankruptcy Depending on the Size of the Company},
   url = {https://link.springer.com/conference/icfs},
   year = {2022}
}

TY  - JOUR
ID  - 1832623
AU  - Sponerová, Martina - Svoboda, Miroslav - Sponer, Miroslav
PY  - 2022
TI  - Factors Affecting Bankruptcy Depending on the Size of the Company
PB  - Springer
CY  - Cham, Německo
SN  - 9783030816629
KW  - bankruptcy prediction
KW  - financial distress
KW  - SME
KW  - financial indicator
KW  - logistic regression
UR  - https://link.springer.com/conference/icfs
N2  - The aim of this article is finding if there exist different factors that could predict bankruptcy depending on the size of the company and compare the differences. Our motivation is to show the most critical factors which have to be taken into attention when predicting bankruptcy. This paper focuses on the Czech economy, specifically at small and medium-sized enterprises (SMEs). 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. It uses significant predictors of these models. We have investigated around 2 800 companies from the segment small and medium-sized enterprises (SMEs), of which 638 failed during the period 2010 – 2017. We have investigated financial data for the years from 2010 to 2017. Results of the analysis confirm research hypotheses that there exist different factors which could predict bankruptcy depending on the size of the company and exploit common used financial indicators to assess the probability of bankruptcy precisely. We have found that for the segment of micro-enterprises is necessary to pay attention to liquidity and profitability. Small enterprises emphasize to leverage, liquidity and profitability while the model developed for the segment of medium-sized enterprises measures most of all leverage, liquidity and activity.
ER  -

SPONEROVÁ, Martina, Miroslav SVOBODA and Miroslav SPONER. Factors Affecting Bankruptcy Depending on the Size of the Company. Online. In Bem A., Daszynska-Zygadlo K., Hajdíková T., Jáki E., Ryszawska B. \textit{Sustainable Finance in the Green Economy}. Cham, Německo: Springer, 2022, p.~225-236. ISBN~978-3-030-81662-9. Available from: https://dx.doi.org/10.1007/978-3-030-81663-6\_{}17.

Detailed Information on Publication Record