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1

THE EFECTIVENESS OF THE DISCRIMINATORY ANALYSIS MODELS. STUDY BASED ON THE SELECTED POLISH COMPANIES QUOTED ON THE WARSAW STOCK EXCHANGE (Weryfikacja skuetcznosci modeli dyskryminacyjnych na przykladzie wybranych spolek gieldowych)

100%
Golebiowski G., Zywno K.
Contemporary Economics
|
2008
|
issue 3(7)
31-45
EN
The article presents the result of research on en effectiveness of discriminatory models on the example of selected Polish joint-stock companies which declared bankruptcy. Aside from general results describing an effectiveness of discriminatory models on the base of the own research of the authors, a comparison of the received findings with others economists' results of research was made. Moreover, an analysis how the relation of an enterprise with the economic situation impacts on an effectiveness of considered models concerning the forecast of a risk of bankruptcy was carried out.
2

Vykorystannya metodu nechitkykh mnozhyn dlya diahnostyky ryzyku bankrut·stva pidpryyemstva

80%
Starchenko L. V., Starovoyt O. V., Semydotska I. I.
Mekhanizm Rehuluvannya Economiky
|
2012
|
vol. 3 (57)
83-91
EN
The article deals with domestic and foreign experience of bankruptcy diagnostics, the method of fuzzy sets is adapted to estimate the probability of bankruptcy one of the largest machine-building enterprises of the Sumy region. At present, it is actual task to develop the economic and mathematical models to estimate the threat of bankruptcy, based on fuzzy sets, which are grounded on fuzzy logic rules and able to adapt to environmental changes to allow effective use of the models in a long-run.
3

KOEFICIENT SPEŇAŽITEĽNOSTI MAJETKU PODNIKU A JEHO STANOVENIE

80%
Kardoš P.
Ekonomický časopis (Journal of Economics)
|
2005
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vol. 53
|
issue 3
296-307
EN
The article deals with the problems of determining of the marketability coefficient in the bankruptcy management. The bankruptcy management needs the special expert evidence. In the expert evidence is used special coefficient which decreases or increases the final value of estimated company. We can call it marketability coefficient. Expertise's agencies don't have a technique how to determinate this coefficient. We can name seven key factors , which have a big influence on the marketability coefficient: line organization, company's position in sector, versatility of property, enterprising space, risk and average profitability, company's size and optimal output and also other impacts. All these factors were specified and quantified in the article, the way how to measure every factor was designed and the procedure how to create the marketability coefficient was explained.
4
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FIRM BANKRUPTCY PREDICTION USING SOFT TECHNIQUES OF CALCULATION (Prognozowanie upadlosci firm przy wykorzystaniu miekkich technik obliczeniowych)

80%
Korol T.
Finansowy Kwartalnik Internetowy e-Finanse
|
2010
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vol. 6
|
issue 2
1-15
EN
This article is about the prediction of bankruptcy of companies in Poland. In the article the author compares seven methods of artificial intelligence of forecasting the risks of bankruptcy of companies. It is first attempt of comparative analysis of such wide variety of artificial intelligence methods in predicting bankruptcy in Poland. In the conducted research the author has used data on 185 companies listed on the Warsaw Stock Exchange. This population of firms was divided into learning and testing setdata. Each company has been analyzed using the absolute values of 14 financial ratios and the dynamics of change of these ratios. The author's developed models are characterized by high efficiency. These studies are the first attempt to use fuzzy logic to predict the bankruptcy of companies in Poland and one of the first in the world. Obtained results demonstrate the great potential of this method.
5
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Prognozowanie upadłości przedsiębiorstw za pomocą wybranych metod wielowymiarowej analizy statystycznej

80%
Dębkowska K.
Zarządzanie i Finanse
|
2012
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vol. 1
|
issue 1
175-184
EN
This article aims to assess the efficiency of selected methods of multivariate analysis. The statistical fixed in predicting bankruptcy of enterprises. Compared the classification results of three methods: classification trees, regression of logit and discriminant analysis. The study created a base of Polish companies representing various sectors, among whom were both bankrupt and no-bankrupt, and the ratio between one and the others was 1:1. Each company is described by means of diagnostic variables as financial ratios. Data were collected for analysis on the basis of information contained in the Corporate Database Emerging Markets Information Service (EMIS).
6

EFFECTIVENESS OF EXPERTS' SYSTEM AND ARTIFICIAL INTELIGENCE IN FORECASTING BANCRUPTCY OF COMPANIES (Skutecznosc systemu eksperckiego i sztucznej inteligencji w prognozowaniu upadlosci firm)

80%
Korol T.
Pieniądze i Więź
|
2010
|
vol. 13
|
issue 1(46)
155-164
EN
This article is about the prediction of bankruptcy of companies in Poland. The author compares two methods of forecasting the risks of bankruptcy of companies: artificial neural networks and fuzzy logic. In the conducted research he used data of 185 companies listed on the Warsaw Stock Exchange. This population of firms was divided into learning and testing set data. Each company has been analyzed using the absolute values of 14 financial ratios and the dynamics of change of these ratios. The author's developed models of fuzzy logic are characterized by high efficiency. These studies are the first attempt to use fuzzy logic to predict the bankruptcy of companies in Poland and one of the first in the world. Obtained results demonstrate the great potential of this method.
7

Prognozowanie bankructwa a koniunktura gospodarcza

80%
Pawełek B., Pociecha J.
Zeszyty Naukowe Uniwersytetu Ekonomicznego w Krakowie
|
2011
|
issue 873
5-27
EN
The paper presents the problem of predicting bankruptcy in changing business cycles. A firm’s bankruptcy risk depends on the quality of management, the firm’s efficiency and other internal microeconomic factors as well as on macroeconomic external factors, which the business cycle is one measure of. Classical bankruptcy prediction models have focused on only internal factors in the form of financial ratios. Our main conclusion is that some measures of the business cycle situation should be included in bankruptcy prediction models. Our research shows that there are significant links between firm bankruptcies and the business cycle, and that the global economic situation strongly affects the risk of bankruptcy. Some regional and sectoral differences in bankruptcy risk are also evident in the Polish economy. Our research has allowed us to created bankruptcy prediction models that use business cycle synthetic measures.
8
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DECLARATION OF BANKRUPTCY VS. BAN TO BURDEN BANKRUPT'S ESTATE

80%
Sekula M.
Ius Novum
|
2009
|
issue 2
7-20
EN
Actual solution grossly contravenes the rights of both all the creditors who are interested in satisfaction of their claims from bankrupt's estate as well as those persons who had moved for securing their claims materially long before the debtor's financial situation worsened. It is accurately emphasized in the doctrine that the wording of article 81, item 3 is a result of the legislator's oversight and contradicts ratio legis of the act as well as the regulation itself. Amending of article 81, item 3 of the act is aimed at removing the discussed flaw. The new wording accepts the admissibility of an entry in the land and mortgages register on a condition that the motion is lodged in court 'at least six months before a declaration of bankruptcy is filed'. Of course, the change should be assessed positively.
9

TO A QUESTION OF PERFECTION THE RUSSIAN SYSTEM REGULATION OF AN INCONSISTENCY (K voprosu sovershenstvovaniya rossiiskoi sistemy regulirovaniya nesostoyatelnosti)

70%
Minakova I. V.
Mekhanizm Rehuluvannya Economiky
|
2010
|
vol. 1 (45)
170-179
EN
In article principles on which construction of effective institute of bankruptcy should be based are formulated. Lacks of the Russian system of regulation of an inconsistency are defined. The series of measures on its modernization, called to provide minimization of social and economic costs in an insolvency situation is offered.
10

Przymusowe przejecie banku

70%
Gonet W.
Przegląd Prawa Publicznego
|
2012
|
issue 3
27-37
EN
The article concerns law aspects of obligatory takeover of the bank that faces the threat of bankruptcy. It has been proven the existing procedures in that field, that are based on the decision of Polish Financial Supervision Authority, are not comprehensive and satisfactory. Furthermore the complex and long-lasting procedure may be finished unsuccessfully, as the banks may not be granted the required concentration permission from the president of the Office of Competition and Consumer Protection. Regulations concerning obligatory takeover of the bank do not include unequivocal definitions that allow the bank (that takes over the bank under the threat of bankruptcy) to start due-diligence, in particular concerning the information that are protected under the bank secrecy. This bank is exposed to higher risk, therefore article 147 of Bank Law may have limited utilization. In the text the postulates have been formulated concerning the change within regulations in the area of obligatory takeover of the bank, through the increase of importance of the Polish Financial Supervision Authority in the whole process, that would allow the potential bank/s to proceed due-diligence of the bank to be taken over and indicate solutions to be implemented, when more than one bank expresses interest in the takeover. This last area is not the subject of any regulation.
11

CORPORATE BANKRUPTCY PREDICTION: EVIDENCE FROM WHOLESALE COMPANIES IN THE WESTERN EUROPEAN COUNTRIES

61%
Vuković B., Milutinović S., Milićević N., Jakšić D.
Ekonomický časopis (Journal of Economics)
|
2020
|
vol. 68
|
issue 5
477 – 498
EN
The aim of this paper was to develop a model that can forecast the bankruptcy of the companies using logistic regression model. The sample consists of 23 bankrupts and 30 healthy companies selected from the initial sample of all large active companies (1740 companies). The companies operate in the trade industry, sector wholesale in Western Europe, in the time period from 2010 to 2018. The logit model was based on the choice between 23 financial indicators. The obtained results with high accuracy showed that the most important bankruptcy predictors were the following five indicators: return on equity, current assets/ total assets, solvency, working capital turnover, stocks/current assets. The developed model provides an opportunity for all external stakeholders to easily identify companies that are facing the risk of bankruptcy. The possibility of the company’s bankruptcy prediction, the assessment of risk and threatened circumstances to continue business is crucial information for making all future business decisions with the company.
12
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Polski system upadłościowy – instytucja społeczna i jej funkcjonalność

61%
Pilitowski B.
Studia Socjologiczne
|
2013
|
issue 1(208)
121-152
EN
The article addresses a problem of the extent to which manifest functions are fulfilled by Polish insolvency system. The questions it aims to answer are: What are the official goals of Polish insolvency system? What is the level of realization of these goals? How the indicators of their realization look like in comparison with other European economies? Is Polish insolvency system dysfunctional or eufunctional for Polish economy and society? Following data will be analysed: results of international surveys on insolvency regimes in Poland and all over the world, data issued by public control institutions and partial results of authors own research. Neoinstitutional perspective is engaged to analyse the data and the article accepts the perspective of economic sociology of law. The article aims to bring more attention to a social institution of crucial significance in a free-market economy and to a need of closer sociological insight into its problems.
13

INSOLVENCE PODNIKU A JEJÍ MAKROEKONOMICKÉ DETERMINANTY

61%
Jakubík P., Seidler J.
Ekonomický časopis (Journal of Economics)
|
2009
|
vol. 57
|
issue 7
619 – 632
EN
This article deals with the mechanisms of satisfying creditors’ claims in the Czech economy and macroeconomic determinants of the corporate failure. The paper briefly characterize the development of the insolvency in the Czech Republic during 1997 – 2005 and tests macroeconomic determinants of the corporate failure on the time series of the number of bankruptcy petitions filed. Empirical analysis suggest the causal link between the annual GDP growth rate, interest rates, inflation rate and aggregate debt of the corporate sector on one side and the bankruptcy rate in the Czech Republic on the other side. Estimated model indicates procyclicality in the bankruptcy rate and implies structural changes between 2003 and 2004, which corresponds to the privatization of the banking sector.
14

Diahnostyka kryzovoho stanu ta zahrozy bankrut·stva promyslovoho pidpryyemstva: porivnyal'ni otsinky

61%
Sabadash V. V., Kovalenko E. V.
Mekhanizm Rehuluvannya Economiky
|
2012
|
vol. 2 (56)
127-132
EN
The article deals with the comparative analysis of basic integral methods bankruptcy risk estimation (on the basis of public join-stock company «Sumy scientifically-production association of Frunze name»). It has been determined, what models should be applied in crisis condition practical assessment and the bankruptcy diagnostics of the industrial enterprise.
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