Article2013

Bankruptcy Prediction Model of Industrial Enterprises in the Czech Republic

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Financial Distress and Bankruptcy Prediction Corporate Insolvency and Governance Forecasting Techniques and Applications

Abstract

Imminent bankruptcy endangers the owners and employees of a bankrupting company as well as its creditors such as other companies and banks. The number of the Czech companies going bankrupt from 2008 to 2011 was three to four times higher, which makes it even more necessary to look for early-warning tools. Based on an analysis of the financial statements of Czech industrial enterprises submitted between 2007 and 2010, a bankruptcy prediction model has been devised with a classification precision ranging from 94.03to 97.79 percent.It can identify bankruptcy with a confidence of 90 percent even three years ahead. Keywords—bankruptcy prediction, discriminant analysis, Box- Cox data transformation, forward and backward discrimination, classification function

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1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY 1980Financial Ratios and the Probabilistic Prediction of Bankruptcy 1966Financial Ratios As Predictors of Failure 1984Methodological Issues Related to the Estimation of Financial Distress Prediction Models 2001Forecasting Bankruptcy More Accurately: A Simple Hazard Model 1977ZETATM analysis A new model to identify bankruptcy risk of corporations 1972A Discriminant Analysis of Predictors of Business Failure 1999Artificial neural networks in bankruptcy prediction: General framework and cross-validation analysis

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2019Logit business failure prediction in V4 countries 2020Comparison of Prediction Models Applied in Economic Recession and Expansion 2016ACCURACY OF MODELS PREDICTING CORPORATE BANKRUPTCY IN A SELECTED INDUSTRY BRANCH 2014Bankruptcy Prediction Models: Can the Prediction Power of the Models be Improved by Using Dynamic Indicators?2015Predicting Bankruptcy under Alternative Conditions: The Effect of a Change in Industry and Time Period on the Accuracy of the Model

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