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KARAS, M. REŽŇÁKOVÁ, M.
Original Title
Can the same indicators serve for the prediction of bankruptcy in a different environment?
Type
conference paper
Language
English
Original Abstract
This paper presents the results of research into the prediction capability of financial proportional indicators on companies operating in different environments. The subject of the research are indicators used in the Z-score model which is considered a model with good prediction capability by many contemporary authors. Our research has shown that the prediction capability of this model is lower than that declared by the author. This finding led us to an investigation of the prediction capability of individual model variables in an attempt to determine whether the lower prediction accuracy of the model may be influenced by the variables used. The research was conducted on the basis of data on companies in the manufacturing industry in Visegrad Four countries for the years 2006 to 2012 obtained from the AMADEUS database. The results demonstrated the differing significance of variables in the individual countries which indicates the necessity of creating original models for each country.
Keywords
Z-score, Altman model, bankruptcy prediction, financial ratios, corporate failure
Authors
KARAS, M.; REŽŇÁKOVÁ, M.
RIV year
2014
Released
22. 11. 2014
ISBN
978-80-248-3631-7
Book
Managing and Modelling of Financial Risks 7th International Scientific Conference, PROCEEDINGS, (Part II.)
Pages from
335
Pages to
343
Pages count
9
BibTex
@inproceedings{BUT110703, author="Michal {Karas} and Mária {Režňáková}", title="Can the same indicators serve for the prediction of bankruptcy in a different environment?", booktitle="Managing and Modelling of Financial Risks 7th International Scientific Conference, PROCEEDINGS, (Part II.)", year="2014", pages="335--343", isbn="978-80-248-3631-7" }