AN EVALUATION OF EFFECTIVENESS OF FUZZY LOGIC MODEL IN PREDICTING THE BUSINESS BANKRUPTCY

Tomasz Korol

35 citations0/0 files storedRePEc: Research Papers in Economics

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Financial Distress and Bankruptcy Prediction Corporate Insolvency and Governance Artificial Intelligence in Healthcare

Abstract

In front of the current global financial crisis, the future existence of the firms is uncertain. The characteristics and the dynamics of the current world and the interdependences between the financial and economic markets around it demand a continuous research for new methods of bankruptcy prediction. The purpose of this article is to present a fuzzy logic-based system that predicts bankruptcy for one, two and three years before the possible failure of companies. The proposed fuzzy model uses as inputs financial ratios, that is dynamics of the financial ratios. In order to design and to implement the model, authors have used financial statements of 132 stock equity companies (25 bankrupt and 107 nonbankrupt). The paper presents also the testing and validation of the created fuzzy logic models.

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References

200535 years of studies on business failure: an overview of the classic statistical methodologies and their related problems 1994Bankruptcy prediction using neural networks 2008Failure processes and causes of company bankruptcy: a typology 1994Understanding the Causes of Business Failure Crises 1996Business Failure Path ways: Environmental Stress and Organizational Response 2008Alternative diagnosis of corporate bankruptcy: A neuro fuzzy approach 200435 years of studies on business failure: an overview of the classical statistical methodologiesand their related problems

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2014A fuzzy logic model for forecasting exchange rates 2015Bankruptcy Prediction: A Survey on Evolution, Critiques, and Solutions 2016An application of OWA operators in fuzzy business diagnosis 2018A comparative analysis of the effectiveness of corporate bankruptcy prediction models based on financial ratios: Evidence from Colombia 2018EVALUATION OF THE FACTORS INFLUENCING BUSINESS BANKRUPTCY RISK IN POLAND

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