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Management and comprehensive assessment of the probability of bankruptcy of Ukrainian enterprises based on the methods of fuzzy sets theory

Serhii Kozlovskyi · Andrii Butyrskyi · B.M. Poliakov · Antonіna Bobkova · Руслан Лавров · Natalya Ivanyuta

33 citations0/0 files storedProblems and Perspectives in Management

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Financial Distress and Bankruptcy Prediction Corporate Insolvency and Governance Banking, Crisis Management, COVID-19 Impact

Abstract

Managing and evaluating the probability of bankruptcy of Ukrainian enterprises is one of the most complex and relevant problems of the economy and management. In the context of Ukraine’s integration into the international space, there is an arising issue of assessing the bankruptcy of Ukrainian enterprises that meets international financial standards and allows administering this process. A qualitative assessment of the bankruptcy of an enterprise is possible only using artificial intelligence methods – the fuzzy sets method, which allows including qualitative and quantitative indicators to the model for assessing bankruptcy of enterprises in Ukraine. The aim of the article is to improve the existing method for assessing the probability of bankruptcy of Ukrainian enterprises on the basis of the fuzzy sets method, which will include indicators of international financial reporting and allow more efficient administration and management of this process. The subject of the research is the process of formalizing the method of the enterprise bankruptcy assessment in accordance with the indicators of International Financial Reporting Standards. The study offers a mechanism for a comprehensive assessment of the probability of bankruptcy of Ukrainian enterprises with the use of the methods of fuzzy sets, which is based on international financial indicators: current ratio, payable turnover ratio, equity turnover ratio, return on assets, equity-to-debt ratio. The mechanism allows quickly managing bankruptcy conditions. In order to administer the economic activity of the bankrupt enterprises, based on the theory of a fuzzy sets, a system of enterprises management takes into account the international financial reporting.

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References

1965Fuzzy sets 1968FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY 1984A Further Empirical Investigation of the Bankruptcy Cost Question 1975The Association Between Market-Determined and Accounting-Determined Measures of Systematic Risk: Some Further Evidence 2010Prediction of hotel bankruptcy using support vector machine, artificial neural network, logistic regression, and multivariate discriminant analysis 2017PREDICTIVE POTENTIAL AND RISKS OF SELECTED BANKRUPTCY PREDICTION MODELS IN THE SLOVAK BUSINESS ENVIRONMENT 2019The Effect of Operational Flexibility on Performance: A Field Study on Small and Medium-sized Industrial Companies in Jordan

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