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KARAS, M. REŽŇÁKOVÁ, M.
Originální název
Identification of financial signs of bankruptcy: A case of industrial enterprises in the Czech Republic
Typ
článek ve sborníku ve WoS nebo Scopus
Jazyk
angličtina
Originální abstrakt
The current approach to creating bankruptcy models involves a search for predictors that have been shown to predict bankruptcy in only one period, namely a year before it occurs. That approach does not allow to identify the root causes of bankruptcy. Yet studies exist (Beaver, 1966; Deakin, 1972; Henerby, 1996; Niemann, Schmidt, Neukirchen, 2008) which suggest that the signs of bankruptcy could be recognized much sooner. The intent of this article is to present the results of a research aspiring to identify the warning signs of bankruptcy within one to five years before it occurs. It was found that a predominant sign of an eventual bankruptcy is a decrease in the performance of company's assets. In the period of three years before the bankruptcy, this development is further aggravated by a decline in the quality of generated earnings. The causes and the first signs of a decrease in the performance of company's assets appear more than five years before the company actually experiences bankruptcy.
Klíčová slova
bankruptcy prediction, signs of bankruptcy, return on assets, company performance
Autoři
KARAS, M.; REŽŇÁKOVÁ, M.
Rok RIV
2013
Vydáno
25. 4. 2013
Místo
Zlín
ISBN
978-80-7454-246-6
Kniha
Proceedings of the 6th International Scientific Conference: Finance and the performance of firms in science, education, and practise
Strany od
324
Strany do
335
Strany počet
12
BibTex
@inproceedings{BUT99510, author="Michal {Karas} and Mária {Režňáková}", title="Identification of financial signs of bankruptcy: A case of industrial enterprises in the Czech Republic", booktitle="Proceedings of the 6th International Scientific Conference: Finance and the performance of firms in science, education, and practise", year="2013", pages="324--335", address="Zlín", isbn="978-80-7454-246-6" }