Assessment of Bankruptcy Prediction Models Applicability in Croatia (CROSBI ID 613064)
Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Keglević Kozjak, Suzana ; Šestanj-Perić, Tanja ; Bešvir, Bruno
engleski
Assessment of Bankruptcy Prediction Models Applicability in Croatia
The objective of this paper is to answer the question whether the use of well-known forecasting models can predict bankruptcy of companies in Croatia. The models applied are: Altman’s Z’-Score, Springate model, FP Rating model, BEX index, Kralicek’s Quicktest and Bonitest, all of them being accounting-based bankruptcy prediction models. Our hypothesis was that domestically developed models would be better predictors of bankruptcy. The analysis confirms that for most of the bankrupt companies all the models predicted bankruptcy even four years before the actual bankruptcy occurring. However, in most cases better predictors of bankruptcy were foreign models. By comparing the outcomes resulting from the application of the simple scoring models Bonitest and Quicktest we conclude that Bonitest model developed for Croatian market performs better than Kralicek’s Quicktest, the model developed on German-speaking area. In contrast, the multiple discriminant analysis models FP Rating model and BEX index developed using Croatian companies’ data show less precision when predicting bankruptcy for medium companies in Croatia than foreign models Altman’s Z’-Score and Springate model. Based on the results we believe it would be reasonable to revise the applicability of existing domestically developed models.
financial statements ; bankruptcy ; manufacturing ; bankruptcy prediction models
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
nije evidentirano
Podaci o prilogu
77-78.
2014.
nije evidentirano
objavljeno
978-953-6025-91-6
Podaci o matičnoj publikaciji
An Enterprise Odyssey: Leadership, Innovation and Development for Responsible Economy : proceedings
Galetić, Lovorka ; Spremić, Mario ; Šimurina, Jurica
Zagreb: Ekonomski fakultet Sveučilišta u Zagrebu
Podaci o skupu
7th International Conference: An Enterprise Odyssey: Leadership, Innovation and Development for Responsible Economy
ostalo
04.06.2014-07.06.2014
Zadar, Hrvatska