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1
Vinnikova, Irina. "Assessment of factors that affect the bankruptcy of an organization." Scientific notes of the Russian academy of entrepreneurship 19, no. 1 (March 25, 2020): 57–71. http://dx.doi.org/10.24182/2073-6258-2020-19-1-57-71.
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Analysis of factors that influence the company's bankruptcy is one of the main tasks for companies that want to assess their financial situation and prevent possible bankruptcy in a timely manner. This article analyzes the factors that affect the company's bankruptcy. A logistic regression model was constructed based on the indicators of both bankrupt and financially stable companies. During the development of the model, significant factors were identified for predicting the bankruptcy of the organization. The results will be useful both for future bankruptcy researchers and for those companies that want to assess their financial situation.
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Korol, Tomasz. "Evaluation of the factors influencing business bankruptcy risk in Poland." e-Finanse 13, no. 2 (December 1, 2017): 22–35. http://dx.doi.org/10.1515/fiqf-2016-0020.
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AbstractThis article is devoted to the issue of assessing the causes of business failure. The presented studies answer two research questions – what are the causes of corporate bankruptcies in Poland and how to more effectively predict the scale of bankruptcies in the country. The author has conducted a study to analyze the specific endogenous and exogenous causes of company bankruptcy depending on the type of the bankruptcy with consideration of the three different phases of the crisis in enterprises. The research is based on 185 companies (60 bankrupt and 125 non-bankrupt firms) listed on the Warsaw Stock Exchange. For each company the author has calculated 14 different financial ratios for each of the six years before classifying the firm as bankrupt or non-bankrupt.The author has also done research to identify specific macroeconomic variables affecting the bankruptcy process of the companies in Poland. This provided specification of the manner and how strongly the various factors affect the quantity and intensity of bankruptcy applications in this region of Europe. Additionally, with the use of selected macroeconomic variables the author programmed a fuzzy logic model to forecast the general intensity of bankruptcies in Poland. This study is the first attempt at using fuzzy logic to predict the risk of bankruptcy in a macro aspect. The results demonstrate the great potential of this method. The received effectiveness of the fuzzy logic model is at the level of 84%.
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Sulistyowati, Retno. "The Position of Legal Protection for Debtors for Bankruptcy Conducted by Separatist Creditors in terms of Act No. 4 of 1996 concerning Mortgage Rights." Sultan Agung Notary Law Review 2, no. 4 (December 30, 2020): 450. http://dx.doi.org/10.30659/sanlar.2.4.450-458.
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The purpose of this research is to know and analyze; 1). The current implementation of debtor legal protection for bankruptcy is carried out by separatist creditors. 2) Factors that influence the implementation of debtor's legal protection for bankruptcy carried out by separatist creditors. 3) The proper implementation of debtor legal protection for bankruptcy by separatist creditors. This study uses a normative juridical research method, using a statutory approach and a conceptual approach. This type of research is descriptive analytical. The data collection technique is the literature study of this thesis. The data analysis method is descriptive qualitative analytical. The results show that: 1. The implementation of the Bankruptcy Law has not provided protection to debtors, because: The requirements for requesting a bankruptcy statement make it easier for the debtor to be declared bankrupt, even though the debtor is actually in a solvent condition; The PKPU mechanism has not provided broad opportunities for debtors to improve company performance; and Efforts in bankruptcy are dominated by the authority of creditors. 2. Factors that influence the implementation of debtor's legal protection against bankruptcy carried out by separative creditors are: There are no funds for the costs of managing and settling bankruptcy assets; Bankrupt Debtor is not cooperative; and The debtor sells/transfers his assets before being declared bankrupt. 3. The Bankruptcy Law in future requires an insolvency test. This is based on reasons to prevent debtors whose assets are more than their debts being declared bankrupt by the court.
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Teoh Yeong Kin, Akmal Haziq Ahmad Aizam, Suzanawati Abu Hasan, Anas Fathul Ariffin, and Norpah Mahat. "Bankruptcy Prediction Model with Risk Factors using Fuzzy Logic Approach." Journal of Computing Research and Innovation 6, no. 2 (September 1, 2021): 102–10. http://dx.doi.org/10.24191/jcrinn.v6i2.220.
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Forecasting bankruptcy remains crucial, especially during this pandemic. Managers, financial institutions, and government agencies rely on the information regarding an impending bankruptcy threat to make decisions. This paper developed a straightforward bankruptcy prediction model using the fuzzy logic approach for individuals and companies to evaluate their performance and analyse the tendency of getting bankrupt. A sample of 250 respondents from banks and financial firms were tested using the qualitative risk factors, namely, industrial risk, management risk, financial flexibility, credibility, competitiveness, and operational risk. This study provides a comprehensive analysis using the Fuzzy Inference System (FIS) editor in the MATLAB software, where the model's accuracy is compared to the actual results. The results show an accuracy rate of 99.20%, indicating that this approach can determine the likelihood of bankruptcy. The fuzzy logic approach can improve prediction accuracy while also guiding decision-makers in detecting and preventing possible financial crises in their early phases.
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Del Castillo García, Agustín, and Sergio Manuel Fernández Miguélez. "Predictive potential of the bankruptcy global models in the tourism industry." Tourism & Management Studies 17, no. 4 (October 31, 2021): 23–31. http://dx.doi.org/10.18089/tms.2021.170402.
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The globalisation process and the recent economic crises have increased the development of models to identify the factors related to business bankruptcy. The tourism industry is not immune to this concern, and in the previous literature, bankruptcy prediction models are generally focused on hotels or restaurants. However, there are no experiences of global models for tourism companies. This study develops a global bankruptcy prediction model capable of predicting any activities carried out in the tourism industry with high precision. To this end, a sample of 406 Spanish companies that have developed their activity in three tourism industry sectors (hotels, restaurants, and travel agencies) in the period 2017-2019 has been used. This sample includes bankrupt and non-bankrupt corporations and has allowed the comparison between a global model and various focused models applying artificial neural network techniques. The results have confirmed the superiority of the global model and provide different sample selection and cost minimisation solutions for bankruptcy prediction modelling in the tourism industry
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Lobeev, Ivan. "Bankruptcy Prediction for Innovative Companies." Journal of Corporate Finance Research / Корпоративные Финансы | ISSN: 2073-0438 15, no. 4 (December 5, 2021): 36–55. http://dx.doi.org/10.17323/j.jcfr.2073-0438.15.4.2021.36-55.
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The main purpose of this article is to identify the best neural network model algorithm and relevant set of variables for predicting financial distress/bankruptcy in innovative companies. While previous articles in this area considered neural network analysis for large companies from primary sectors of the economy, we take the novel approach of examining theless-explored area of innovative companies. First, we complete a comprehensive review of the relevant literature in order to define the best configuration of factors which can influence bankruptcy, network architecture and learning methodology. We apply our chosen method to a sample of companies from around the world, from industries which are considered innovative, and identify the dependence of bankruptcy probability on a set of factors which are reflected in the financial data of a company. Our evaluation is based on the financial data of 300 companies – 50 of them are bankrupts, and 250 are ‘healthy’. Our results represent the set of relevant factors for bankruptcy prediction and the appropriate neural network. We have applied a total of 19 factors characterising efficiency, liquidity, profitability, sustainability, and level of innovation. Our proposed analysis is appropriate for all sizes of companies. We provided two models in order to cater for the most confidence in terms of obtained results. The total predictive ability of the model developed in our research is almost 98%, which is extremely efficient, and corresponds to the results of the most modern methods. Both approaches demonstrated almost the same level of influence of factor groups on final bankruptcy probability.
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Rico, Manuel, Santiago Cantarero, and Francisco Puig. "Regional Disparities and Spatial Dependence of Bankruptcy in Spain." Mathematics 9, no. 9 (April 25, 2021): 960. http://dx.doi.org/10.3390/math9090960.
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Firm survival, bankruptcy, and turnaround are of great interest nowadays. Bankruptcy is the ultimate resource for a company to survive when it is affected by a severe decline. Thus, determinants of firm turnaround and survival in the context of bankruptcy are of interest to researchers, managers, and policy-makers. Prior turnaround literature has broadly studied firm-specific factors for turnaround success. However, location-specific factors remain relatively unstudied despite their increasing relevance. Thus, this paper aims to evaluate the existence of spatial dependence on the outcome of the bankruptcy procedure. Economic geography and business literature suggest that location matters and closer companies behave similarly to further ones. For this purpose, we designed a longitudinal analysis employing spatial correlation techniques. The analyses were conducted on a sample of 862 Spanish bankrupt firms (2004–2017) at a regional level (province). For overcoming the limitations of the broadly usually logistic model employed for the turnaround context, the Moran’s Index and the Local Association Index (LISA) were applied with gvSIG and GeoDa software. The empirical results show that the predictors GDP per capita and manufacturing specialization are related to higher bankruptcy survival rates. Both characteristics tend to be present in the identified cluster of provinces with better outcomes located in the North of Spain. We suggest that location broadly impacts the likelihood of the survival of a bankrupt firm, which can condition the strategic decision of locating in one region or another. Our findings provide policy-makers, managers, and researchers with relevant contributions and future investigation lines.
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Patricia, Zoe, Suganthi R, Devinaga R, Yuen Yeen Yen, and Shalini . "Factors Affecting Bankruptcy in Malaysian Listed Companies." International Journal of Engineering & Technology 7, no. 3.21 (August 8, 2018): 139. http://dx.doi.org/10.14419/ijet.v7i3.21.17110.
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In a number of studies bankruptcy has been known to bring about the downfall and embarrassment of firms as well as destroying a lot of careers. On the other hand for bankruptcy of corporate institutions, factors such as accounting aspects that include, profitability, leverage as well as liquidity are mainly the core of this issue as mentioned by Boettcher, Cavanagh, and Xu (1). Nowadays corporate governance has been added into the mix. In order to support both affected and smoothly running firms, it is crucial for researchers to investigate all the aspects of the management of the firm as expressed in their annual reports. The methods focused on in this research includes the models such as, multicollinearity, polled least square model and finally the fixed effect model. The annual reports and indexes were used to get values in the measurements. This study found that corporate governance, firm size and profitability were not significant to the bankruptcy of the firm. However, Liquidity and leverage contributed to firm bankruptcy. In conclusion, this study is generally meant to explore the impact of different factors that probably contributed to bankruptcy among Malaysian firms.
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Sponerova, Martina, Miroslav Sponer, and Miroslav Svoboda. "Dependence of Company Size on Factors Influencing Bankruptcy." SHS Web of Conferences 92 (2021): 03028. http://dx.doi.org/10.1051/shsconf/20219203028.
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Research background: There is extensive empirical literature on default prediction methodologies. Many authors during the last fifty years have examined several possibilities to predict default or business failure. The reviews from the last years show that the closer the similarity of businesses, the greater accuracy of bankruptcy models. Purpose of the article: The aim of this article is finding if there exist different factors that could predict bankruptcy depending on the size of the company. Our motivation is to show if there exist differences when predicting bankruptcy according the size of the company. Methods: This paper focuses on the Czech economy, specifically at small and medium sized enterprises (SMEs). It is the ongoing research about the value of several popular bankruptcy models that are often applied, namely the Altman Z-score, the Ohlson O-score, the Zmijewski’s model, the Taffler’s model, and the IN05 model. We have used logistic regression and investigated around 2 800 companies, of which 642 failed during the period 2010 – 2017. Findings & Value added: Results of the analysis confirm research hypotheses that there exist different factors which could predict bankruptcy depending on the size of the company and exploit common used financial indicators to assess the probability of bankruptcy precisely. We have found that for the segment of micro-enterprises is necessary to pay attention to liquidity and profitability. Small enterprises emphasize to leverage, liquidity and profitability while the model developed for the segment of medium-sized enterprises measures most of all leverage, liquidity and activity.
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Cong Nguyen, Van, Thi Nga Nguyen, Thi Tu Oanh Le, and Trong Than Nguyen. "Determining the impact of financial performance factors on bankruptcy risk: an empirical study of listed real estate companies in Vietnam." Investment Management and Financial Innovations 16, no. 3 (October 7, 2019): 307–18. http://dx.doi.org/10.21511/imfi.16(3).2019.27.
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The risk of bankruptcy is affected by many different factors. Therefore, identifying the groups of factors affecting bankruptcy risks, especially financial performance factors, are important and necessary. The study focused on the impact of financial performance on the bankruptcy risk of real estate companies listed on Vietnam’s stock exchange. Research data were collected from 44 real estate companies listed on Vietnam’s stock exchange from 2011 to 2017 with 308 observations. The study was conducted by the quantitative method based on the logistic regression model with the help of SPSS 25 specialized software. The research results show that Return on Assets (ROA), Return on Equity (ROE) and Total Asset Turnover (TAT) have significant reverse effects on bankruptcy risk, while Operating Profit Margin (OPM) is not a relevant factor. The accuracy rate of the overall predictive model is 90.9%. This study extends the scope of literature on the impact of financial performance on the bankruptcy risk of real estate companies. Moreover, this study offers the model of bankruptcy risk prediction of the listed real estate companies in Vietnam and recommends effective solutions to improve business efficiency, limit and prevent financial risks for listed real estate companies in Vietnam.
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Hassan, Suzana, Muhamad Khodri Kholib Jati, Nurul Huda Md Yatim, and Mohd Azlan Abd Majid. "FACTORS INFLUENCING PERSONAL BANKRUPTCY AMONG YOUTH IN MALAYSIA." Advanced International Journal of Banking, Accounting and Finance 3, no. 7 (June 15, 2021): 85–91. http://dx.doi.org/10.35631/aijbaf.37007.
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The objective of this paper is to explore the factors influencing personal bankruptcy among youth in Malaysia. This paper intended in creating more awareness and give more information to Malaysian about the importance of personal insolvency is due to the increasing of personal insolvency cases from year to year especially in 2016, 2017, and 2018 which involves 290,001, 300,958, and 303,415 cases. Some Malaysian have issues in financial literacy and it will lead to growth in personal bankruptcy cases if there is less initiative to avoid it. Other than that, the objectives of this paper are to discover whether a Non-Performing Loan, unemployment rate, and per capita income affect the bankruptcy cases in Malaysia. This paper using secondary data analysis using time series data yearly starting from 1985 until 2017 and it is consisting of thirty-three observations. The result showed Non-Performing Loan and per capita income are positively significant with personal bankruptcy while positively insignificant with the unemployment rate.
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Nguyen, Thi Hong Thuy, Lan Phuong To, Kien Phan Trung, and Thi Thuy Hang Dang. "Applying appropriate models to predict bankruptcy for Vietnamese listed construction companies." Accounting 8, no. 2 (2022): 101–10. http://dx.doi.org/10.5267/j.ac.2021.8.001.
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This study focuses on assessing the suitability and condition of various bankruptcy risk models applied to construction companies listed on the Vietnam Stock Market. In this study, the panel data were collected from the disclosed financial statements of the companies from 2012 to 2017. Through the assessment, bankruptcy risks are predicted for the companies that are experiencing initial signals such as delisting, compulsory supervision. In the next step, interviews were conducted to justify which of the following factors may indicate the companies at the risk of being bankrupted: asset management, capital structure, business size, and/or state management.
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Zakharova, Alexandra A. "Fuzzy Swot Analysis for Selection of Bankruptcy Risk Factors." Applied Mechanics and Materials 379 (August 2013): 207–13. http://dx.doi.org/10.4028/www.scientific.net/amm.379.207.
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The article discusses applicability of fuzzy SWOT analysis for bankruptcy risk management of companies. The article also provides its implementation strategy, sample determination of external and internal factors’ significance and their combinations for bankruptcy risk management strategy of company.
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Lin, Qin, Lin Feng, Chatchai Khiewngamdee, Pingping Li, and Xiaofei Ye. "Latest Lessons from the Bankruptcy of State-Owned Enterprises (SOEs) in China: An Interpretative Structural Model (ISM) Approach." Discrete Dynamics in Nature and Society 2022 (April 16, 2022): 1–11. http://dx.doi.org/10.1155/2022/1109442.
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State-owned enterprises (SOEs) play an important role in China. During the transformation from a planned to a market economy, plenty of Chinese SOEs fell into trouble. Dalian machine tool group (DMTG) who was once a leading enterprise in the Chinese machine tool industry bankrupted in 2017. To explore the causes of its collapse, we employ the interpretative structural model (ISM) to investigate the reasons for its failures from multi-aspect and at different levels. The results indicate that the root cause of this bankruptcy is the top manager’s mismanagement; the lack of a reasonable strategic positioning and long-term product planning are also important factors of DMTG’s failure, and the problems of human resource management accelerated the bankruptcy. Findings provide lessons to be learned from the bankruptcy for SOEs and offer managerial insight into SOEs.
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Selvanathan, Mahiswaran, Uma Devi Krisnan, and Wong Chui Wen. "Factors Effecting Towards Personal Bankruptcy among Residents: Case Study in Klang Valley, Malaysia." International Journal of Human Resource Studies 6, no. 3 (October 1, 2016): 98. http://dx.doi.org/10.5296/ijhrs.v6i3.10092.
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In Malaysia, there is a notable increase in the number of bankruptcy cases. The personal bankruptcy trend has become one of the major concern to the government. The purpose of this research is to study the factors lead to personal bankruptcy. This research tested the few factors effect on personal bankruptcy based on Klang Valley residents. The research used a quantitative approach and data was gathered from survey questionnaire. The questionnaire measurement quantify the respondent’s response with the help of five point Likert scale. Respondents was designated to respond on the questionnaire by simple random sampling techniques. Data collected was analyzed using Pearson correlation coefficient and multiple regression analysis. The data has been presented in the form of tables. Relationship that were assessed; credit card debts, money management, financial literacy and non-performing loan effects towards personal bankruptcy. The finding shows that there are positive relationship between money management, financial literacy and non-performing loan.
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Pohan, Masitah. "Company Responbility toward Employees Due to Pailit." Budapest International Research and Critics Institute (BIRCI-Journal): Humanities and Social Sciences 4, no. 1 (February 22, 2021): 1272–78. http://dx.doi.org/10.33258/birci.v4i1.1753.
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Company bankruptcy is a corporate legal phenomenon that is often greatly feared, either by company owners or by its management. Because with company bankruptcy, it means that the company has failed in doing business or at least has failed to pay its debts (debts). The purpose of this research is to identify and analyze the factors of company bankruptcy, the position of employees due to bankruptcy based on Law Number 13 of 2003, due to the legal consequences of bankruptcy against employees based on Law Number 37 of 2004. The research conducted is juridical normative, data sources which is used to support this research is a secondary data source. Factors for the occurrence of company bankruptcy are caused by unpredictable external factors, such as natural disasters. The position of employees due to bankruptcy based on Law Number 13 of 2003 is in Article 95 paragraph (4), clearly and emphasizes that wages and other rights of workers / labor are debts whose payment is prioritized to protect and ensure the survival of their lives and their families. . However, in reality the workers' position is under bankruptcy fees and curator fees, which means that workers must be more patient and stay behind after the bankruptcy of the bankruptcy estate is used to pay taxes, creditors who hold collateral (separatist creditors), bankruptcy fees and curator fees. The legal consequence of the occurrence of bankruptcy for employees based on Law Number 37 Year 2004 is Article 39 paragraph (1) of the Bankruptcy Law.
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Saija, Ronald. "Penyalahgunaan Keadaan Dalam Prosedur Permohonan Pailit Di Pengadilan Niaga." SASI 24, no. 1 (July 8, 2018): 11. http://dx.doi.org/10.47268/sasi.v24i1.114.
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In line with the rapidly growing trade trajectory, increasing and on an increasingly widespread and global scale, where corporate debt problem is getting complicated and requires effective legal regulation. The development of the global economy today requires the rule of bankruptcy law that is able to meet the legal needs of business people in the settlement of their accounts receivable. The monetary turmoil that occurred in mid-July 1997, resulted in a very wide impact on business development in Indonesia. In the face of this kind of thing, it is of course deemed necessary to take remedial measures, especially legal certainty in order to balance the interests of the company or the interest between creditors and debtors who go bankrupt. One of the legal means underlying the settlement of accounts payable is the regulations concerning the procedure of bankruptcy petition in the Commercial Court, as stipulated in Government Regulation in Lieu of Law No. 1 of 1998 on Amendment to the Law on Bankruptcy (Faillissement Verordening), which subsequently stipulated as Law No. 4 of 1998 on Bankruptcy, then underwent changes and improvements to Law of the Republic of Indonesia Number 37 Year 2004 concerning Bankruptcy and Suspension of Payment Obligation (PKPU). However, this law is felt to be less effective and less tested, due to the abuse of circumstances of interest, the factor of rights and power status factors in the current Bankruptcy application in the Commercial Court.
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Bazhina, Maria A., and Tatyana M. Zvezdina. "Legal Aspects of Bankruptcy of a Homeowner Association." Jurist 5 (May 13, 2021): 17–22. http://dx.doi.org/10.18572/1812-3929-2021-5-17-22.
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The article is devoted to the legal aspects of the bankruptcy of homeowner association. Authors underline different factors that cause bankruptcy of homeowner association, analyze peculiarities of bankruptcy of homeowner association. There is also research of legal grounds for the withdrawal from membership of homeowner association during the process of bankruptcy.
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Nelmida, Nelmida. "What are the factors financial distress? The National Private Commercial Banks in Indonesia Case." International Journal of Entrepreneurial Research 2, no. 2 (May 13, 2019): 13–20. http://dx.doi.org/10.31580/ijer.v2i2.918.
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This study employs to identify the determinant factors of the potential bankruptcy of National Private Commercial Banks listed on the Indonesia Stock Exchange. The type of data is secondary data derived from the company's financial statements from 2015-2017. The population of this research is all companies of National Private Commercial Banks listed on the Indonesia Stock Exchange with the purposive sampling technique of sampling 40 companies. The analytical method used to identify the potential for bankruptcy is used the modified Altman Z Score model for non-manufacturing companies in developing capital markets. To identify the determinants of potential bankruptcy is used the Factor Analysis method. Based on the analysis, it is obtained that the potential bankruptcy of the company as a sample has a value of Z Score> 2.60 (including safe zone or healthy category). Then based on the results of analysis factors from the 10 variables studied only 9 variables that found the requirements as a determinant of potential bankruptcy, namely: CAR, NPL, ROA, NIM, BOPO, LDR, CR, ECTA, and TATG variables are divided into 2 factors, namely factor 1 which consists of variables CAR, NIM, LDR, CR, ECTA, and TATG which are named Capital variables and Liquidity, while the one that includes factor 2 consists of variables NPL, ROA, and BOPO which are given variable names Asset Quality and Earning.
Keywords: Potential bankruptcy; National Private Commercial Banks; and Factor Analysis; and Altman Z Score model
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Nair, Yashota, Laily Paim, Mohd Fazli Sabri, and Husniyah Abdul Rahim. "Predictors of Bankruptcy Probability among Malaysian Civil Servants : Examining the Subjective Measurement." Journal of Emerging Economies and Islamic Research 4, no. 1 (January 31, 2016): 22. http://dx.doi.org/10.24191/jeeir.v4i1.9076.
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Bankruptcy and its impact on the quality of life among Malaysian civil servants has received considerable attention from many authorities. The purpose of this study is to examine the determinant factors of civil servants’ bankruptcy probability in Malaysia. The results of this study can be used to predict the possibility of bankruptcy. The knowledge of this early warning model may help to prevent the consequences or reduce the possibility of bankruptcy among Malaysian civil servants. It can be also used for a better understanding of the relationship on bankruptcy probability by highlighting the determinant factors such as asset ownership, attitude towards debt, and financial management practices. Samples were selected by using multi-stage cluster sampling technique among civil servants in public sectors. A total of 399 completed questionnaires were analysed using logistic regression to identify the probability of bankruptcy among the civil servants. The results identified that the possibility of bankruptcy is significantly determined by asset ownership, attitude towards debt, and financial management practices.
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Mints, Oleksii, Viktoriya Marhasova, Hanna Hlukha, Roman Kurok, and Tetiana Kolodizieva. "Analysis of the stability factors of Ukrainian banks during the 2014–2017 systemic crisis using the Kohonen self-organizing neural networks." Banks and Bank Systems 14, no. 3 (September 6, 2019): 86–98. http://dx.doi.org/10.21511/bbs.14(3).2019.08.
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The article proposes an approach to analyzing reliability factors of commercial banks during the 2014–2017 systemic crisis in the Ukrainian banking system, using the Kohonen self-organizing neural networks and maps. As a result of an experimental study, data were obtained on financial factors affecting the stability of a commercial bank in a crisis period. It has been concluded that during the banking crisis in Ukraine in 2014–2017, the resource base of a bank was the main factor of this bank stability. The most preferred sources of resources were funds from other banks (bankruptcy rate of 5.7%) and legal entities (bankruptcy rate of 8%), and the least stable were funds from individuals (bankruptcy rate of 28.5%). The relationship between financial stability and the amount of capital and the structure of bank loans is less pronounced. However, one can say that banks that focused on lending to individuals experienced a worse crisis than banks whose main borrowers were legal entities. The tools considered in the article (the Kohonen self-organizing neural networks and maps) allow for efficiently segmenting data samples according to various criteria, including bank solvency. The “hazardous” zones with a high bankruptcy rate (up to 49.2%) and the “safe” zone with a low rate of bankruptcy (6.3%) were highlighted on the map constructed. These results are of practical value and can be used in analyzing and selecting counterparties in the banking system during a downturn.
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Hari, Kurnia Krisna, Sa’adah Siddik, and Didik Susetyo. "ANALISIS PERINGATAN DINI KEBANGKRUTAN BANK UMUM SYARIAH DI INDONESIA PERIODE 2011 – 2015." AKUNTABILITAS: Jurnal Penelitian dan Pengembangan Akuntansi 11, no. 1 (August 9, 2019): 39–58. http://dx.doi.org/10.29259/ja.v11i1.8928.
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This study aims to give empirical prove on the factors that affecting early warning bankruptcyof Islamic banking in Indonesia using RGEC method. The factors that are tested in this study are Non Performing Financing (NPF), Financing to Deposit Ratio (FDR), Good Corporate Governance (GCG), Return on Assets (ROA), Net Operating Margin (NOM), and Capital Adequacy Ratio (CAR). The sample of this study consists of 7 Islamic banking in Indonesia. The data used is the quartile report of financial statements and the GCG report while the statistical method used is panel regression.The result shows that Non Performing Financing (NPF), Financing to Deposit Ratio (FDR), Return On Assets (ROA), and Capital Adequacy Ratio (CAR) gives impact to the early warning bankruptcy of the Islamic banking, while Good Corporate Governance (GCG) and Net Operating Margin (NOM) does not have any effect on the early warning bankruptcy. This implies that GCG and NOM are not inline with the policy, theory and previous studies.
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Elexa, Lubos, Lenka Hvolkova, and Miroslava Knapkova. "Anticrisis management: warning signals before failure." Marketing and Management of Innovations, no. 3 (2019): 98–111. http://dx.doi.org/10.21272/mmi.2019.3-08.
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Critical situations in the operations of companies, both evitable and inevitable, usually have a certain pattern and development trend but are different as to the duration, sector or region. Many of them ask for some legal procedure, the most critical ones lead to a bankruptcy process. The purpose of the research is the rapid increase in number of bankruptcies in Slovakia in recent years. The main aim of this paper is to analyse the evolution of the bankruptcy as a type of critical situation in Slovak companies and specify it according to the regional and sectoral perspective, including economic conditions prior to a bankruptcy. The paper utilizes secondary data obtained from available databases. The initial analysis is focused on the group of all companies entering the bankruptcy process in the period from 2009 until 2019. Firstly, the full sample is considered, regardless of the legal form and data and the outcome of the analysis is used for mapping of industrial and regional intensity of bankruptcies. The second stage of the research is focused on research sample after the irrelevant subjects were ousted from it. As irrelevant subjects we consider sole traders without business data and companies with doubtful data or unclear bankruptcy start. Through the available indicators are identified the early warning signals from the financial perspective. Indicators are split into two categories – absolute and relative ones and they are investigated three, two and one years before the start of bankruptcy. Four hypotheses were formulated before the research, the length of bankruptcy process was quantified and specified for SK NACE sectors and regions. The paper presents the results of empirical analysis, which showed that the dynamic change in number of bankruptcies was brought with significant amending of bankruptcy legislation. The longest bankruptcy process is found in accommodation and food services (4 years), while IT companies generally went bankrupt within a year. The economic situation in bankrupting companies significantly worsen in case of sales and equity (the number of companies with negative equity doubled), development of profit/loss fluctuate a bit due to the sale of assets which helped in later stages. There is no statistically significant difference in the length of bankruptcy among the industries and regions. In case of legislative rules the lower cash ratio seems to be the dominant reason while companies enter the bankruptcy. The research results can be useful for further and more detailed analysis, mostly in connection with bankruptcy development (what happen when bankruptcy started) and liabilities compensation and through non-financial bankruptcy factors in individual industries.
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Kovan, S. E. "ANALYSIS OF UNDERLYING RISK FACTORS BANKRUPTCY OF ENTERPRISES." Business Strategies, no. 6 (March 2, 2015): 1. http://dx.doi.org/10.17747/2311-7184-2014-6-1.
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Staňková, Michaela, and David Hampel. "Bankruptcy Prediction of Engineering Companies in the EU Using Classification Methods." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 66, no. 5 (2018): 1347–56. http://dx.doi.org/10.11118/actaun201866051347.
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This article focuses on the problem of binary classification of 902 small- and medium‑sized engineering companies active in the EU, together with additional 51 companies which went bankrupt in 2014. For classification purposes, the basic statistical method of logistic regression has been selected, together with a representative of machine learning (support vector machines and classification trees method) to construct models for bankruptcy prediction. Different settings have been tested for each method. Furthermore, the models were estimated based on complete data and also using identified artificial factors. To evaluate the quality of prediction we observe not only the total accuracy with the type I and II errors but also the area under ROC curve criterion. The results clearly show that increasing distance to bankruptcy decreases the predictive ability of all models. The classification tree method leads us to rather simple models. The best classification results were achieved through logistic regression based on artificial factors. Moreover, this procedure provides good and stable results regardless of other settings. Artificial factors also seem to be a suitable variable for support vector machines models, but classification trees achieved better results using original data.
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Чегар, Бобана. "Нужност ефикаснијег вођења стечајног поступка у функцији опоравка привреде // The necessity of introducing a more efficient bankruptcy procedure as a function of economic recovery." ACTA ECONOMICA 12, no. 20 (February 6, 2014): 261. http://dx.doi.org/10.7251/ace1420261c.
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Резиме: Стечајни поступак је нешто с чим се сусрећу све привреде, али ефикасност његовог вођења није иста код свих. Ефикасност стечајног поступка може се мјерити узимајући у обзир три фактора: трајање, трошкове и исход. С обзиром да једно предузеће не може да послује са самим собом, финансијске неприлике у којем се нађе осјетиће се и код других предузећа. Зато је оправдано стечајни поступак посматрати у функцији опоравка привреде, јер се може завршити реорганизацијом, а не само банкротством (ликвидацијом).Рад је подијељен у три дијела. У првом дијелу укратко се даје теоријско објашњење стечајног поступка и начин његовог функционисања. Приказане су и најважније законске и рачуноводствене одреднице стечајног поступка и дефинисање реорганизације. Други дио заснива се на анализи садашњег стања ефикасности стечајног поступка, док је у посљедњем дијелу дат приједлог мјера за његово ефикасније вођење.Summary: Bankrupt process is something that all economic encounter, but efficiency in leading such processes is not everywhere the same. The efficiency of bankruptcy proceedings can be measured by taking in account three factors: duration, cost and outcome. Since one company can not conduct business with itself the financial problems it falls in will have impact on other companies. Therefore it is reasonable to observe bankruptcy procedures as a function of economic recovery, because it can end up by reorganisation, not just bankruptcy (liquidation).The work is divided in three parts. The first part gives a brief theoretical explanation on bankruptcy procedures and how it operates. Displayed are the most important legal and accounting determinates of bankruptcy procedure and defines reorganiсatio. The second part is based on the analysis of the present state of the bankruptcy proceedings. While the last part gives proposal measures for an efficient introduction.
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Nusinov, V. Ya, V. G. Oliukha, L. A. Burkova, and V. А. Shepeliuk. "BANKRUPTCY PREVENTION OF ENTERPRISES AS A COMPONENT OF SUSTAINABLE DEVELOPMENT." Economics and Law, no. 4 (December 6, 2021): 18–31. http://dx.doi.org/10.15407/econlaw.2021.04.018.
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Sustainable development of the enterprise is characterized by stable, balanced functioning of its three subsystems – economic, social and environmental. However, development is impossible without ups and downs, which disrupts stability. Recently, the spread of the pandemic has had a negative impact on the world economy and jeopardized the level of its sustainable development. In Ukraine, the impact of the pandemic has exacerbated the crisis due to the stratification of the unstable economic and political situation in the country. As a result, this led to a rapid growth in the number of unprofitable enterprises. Statistics show an increase in the number of initiated bankruptcy proceedings of enterprises and even their liquidation due to insolvency. The article hypothesizes that development cannot occur constantly, and therefore does not exclude the possibility of volatile states. Unsustainable development of the enterprise is characterized by its financial insolvency, which is identified with its bankruptcy. At the same time, bankruptcy of enterprises in Ukraine is quite common. Bankruptcy of the enterprise – the inability of the debtor to restore its solvency through the procedure of rehabilitation and restructuring and is a consequence of unsustainable development. It arises due to external (economic, scientific and technical, political, legal, international, environmental, pandemic, infrastructural) and internal factors (poor management of the founders of the debtor and its management). Internal factors are the main ones. Economic and legal means that can help identify in the early stages of negative trends in financial condition and prevent them – the development plan of the enterprise. One of the components of this plan is the economic analysis of the financial condition of the enterprise. The legislator has significantly simplified the requirements for filing a lawsuit to declare a company bankrupt. This can lead to abuse of the right to file such a lawsuit (raider seizures, tax evasion and unfair competition). In our opinion, a safeguard against abuse can be not only certain restrictions for the initiating creditor in the right to file for bankruptcy, but also the establishment by the legislator of increased liability for him in case of establishing the facts of abuse of such a right. In addition, the article emphasizes that the current methodological approaches to assessing the probability of bankruptcy of enterprises do not allow establishing the approach of this event taking into account the time factor, but only indicate the possibility of its occurrence. In this case, the range of possible time affects the choice of top management of urgent measures to correct the financial condition of the enterprise, the implementation of which will prevent the opening of bankruptcy proceedings or to delay the likelihood of its occurrence. The proposed methodological approaches allow determining the probability of bankruptcy of Ukrainian enterprises in order to predict the development of events in the early stages of bankruptcy.
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Dorohan-Pysarenko, Liudmyla, Rafał Rębilas, Olena Yehorova, Ilona Yasnolob, and Zhanna Kononenko. "Methodological peculiarities of probability estimation of bankruptcy of agrarian enterprises in Ukraine." Agricultural and Resource Economics: International Scientific E-Journal 7, no. 2 (June 20, 2021): 20–39. http://dx.doi.org/10.51599/are.2021.07.02.02.
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Purpose. The purpose of the study is to develop the concept of complex estimation of bankruptcy probability of agrarian enterprises in Ukraine, taking into account the specifics of agricultural activities.
Methodology / approach. To achieve the purpose, the following research methods were used: abstract-logical (at disclosing the essence of the concept of “bankruptcy”); dialectical (for theoretical generalizations on determining the problems and ways to overcome them, drawing conclusions); expert estimations, comparative analysis, analysis and synthesis (at developing the concept of estimating the probability of bankruptcy); relative indicators-coefficients (at studying models for estimating the probability of bankruptcy occurrence); monographic (for in-depth study of separate types of factors affecting the probability of bankruptcy); graphical and tabular (at presenting the research results).
Results. It has been proven that the discriminant analysis for estimating the probability of bankruptcy (the construction of multifactor models that summarize the most important financial indicators in the integrated index) does not take into account the industry characteristics of agrarian enterprises. The concept of bankruptcy diagnostics is proposed, which combines discriminant analysis and expert estimation of qualitative signs of a possible crisis of an agrarian enterprise. The indicators selected for expert examination cover non-financial factors – the risks and threats to agricultural production in Ukraine, and their generalization may specify the risk of bankruptcy occurrence. The scoring model has been derived by the method of expert estimations, the scale has been developed, which is combined with the discriminant one that will enable to bring the results of the research into the interval of the indicator for estimating the occurrence of bankruptcy.
Originality / scientific novelty. The definition of the term “bankruptcy” has been improved: the author’s definition combines the economic and legal approaches to it. The main risks of agricultural activities in Ukraine have been specified and their impact on the probability of bankruptcy of agrarian enterprises has been outlined. It has been developed the methodological concept for estimating the probability of bankruptcy of agrarian enterprises, which takes into account informal factors. For the first time, in order to predict the bankruptcy of agrarian enterprises, it has been proposed to combine discriminant analysis and expert estimation of qualitative indicators that increase its risk in agriculture.
Practical value / implications. The application of the developed methodology provides an opportunity for the agrarian enterprise of timely responding to the threats of financial crisis and bankruptcy in order to prevent them. The proposed approach can be used as an element of estimating the insurance risk or investment attractiveness of agricultural enterprises. In case of its adaptation, the methodology can be used in foreign practice.
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Geiger, Marshall A., K. Raghunandan, and William Riccardi. "The Global Financial Crisis: U.S. Bankruptcies and Going-Concern Audit Opinions." Accounting Horizons 28, no. 1 (December 1, 2013): 59–75. http://dx.doi.org/10.2308/acch-50659.
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SYNOPSIS This study investigates whether auditors' going-concern modified opinion (GCO) decisions were less likely after the start of the recent “Global Financial Crisis” (GFC). Auditing regulators and the business press had complained that auditors did not provide adequate warning in their reports prior to many companies filing for bankruptcy during the GFC. Accordingly, we examine auditors' GCO opinions for financially stressed clients that subsequently entered into bankruptcy during the period from 2004 to 2010. We find that, after controlling for other factors related to GCOs, the propensity of auditors to issue a GCO prior to bankruptcy significantly increased after the onset of the GFC. Additional tests reveal similar results when we separately examine clients of the Big 4 and non-Big 4 firms, suggesting both sized firms significantly increased the likelihood of issuing a GCO to a subsequently bankrupt client after the start of the GFC. Our results should be of interest to regulators, investors, audit firms, academics, and standard setters as they evaluate U.S. auditor performance during the GFC, and in contemplation of changes to auditing standards as a result of the GFC.
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Thanh Tung, Diep, and Vo Thi Hoang Phung. "An application of Altman Z-score model to analyze the bankruptcy risk: cases of multidisciplinary enterprises in Vietnam." Investment Management and Financial Innovations 16, no. 4 (December 6, 2019): 181–91. http://dx.doi.org/10.21511/imfi.16(4).2019.16.
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This study applied Altman Z-score model to assess the bankruptcy risk of a set of multidisciplinary enterprises of various types, mainly small and medium enterprises, with data taken from official financial reports of 180 enterprises in Soc Trang province. The binary logistic regression was employed to assess the impact of non-financial and financial factors on the bankruptcy risk of enterprises. The research findings showed that both the non-financial factors such as business area, types and size of the business, the educational level of managers and executors and other characteristics, and the financial factors (indicators) such as earnings before tax, net profit/equity ratio, earnings before interest and tax/total assets ratio, equity/total debt ratio, affect the bankruptcy risk of enterprises. Predicting the bankruptcy risk and measuring its determinants play an important role not only as an effective managing tool of the business, but also as evidence for policymakers to support the sustainable development of business.
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KOCHETKOV, E. P. "Improving the efficiency of functioning of the bankruptcy institution in the Russian Federation: the value-based approach." Strategic decisions and risk management, no. 1-2 (June 29, 2017): 54–63. http://dx.doi.org/10.17747/2078-8886-2017-1-2-54-63.
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Today the bankruptcy institution develops dynamically under the influence of various factors. This is required the formation of the universal goals of the bankruptcy institution with considering of features of the current socio-economic development. On the other hand, the transformation purposes of the bankruptcy institution towards rehabilitation focus is not always accompanied by an increase of efficiency of bankruptcy procedures, that confirms by the statistics data in the Russia. Thereby author investigated the issues of determining the universal target installation of bankruptcy institution, as well as an analysis of the bankruptcy models, which confirmed the effectiveness of the bankruptcy models in which decisions on rehabilitation or liquidation of the debtor is based on value criteria. In order to enhance the rehabilitation capacity of the bankruptcy institution in Russia on the basis of a systematic approach author proposed changes in the concept of the impact of the bankruptcy procedures, measures to improve the efficiency of bankruptcy procedures, and explore the essence of the process of restoring the debtor's solvency. It is proved that the purpose of rehabilitation of bankruptcy procedures should be the preservation of the debtor's business with the new owner of more efficient, taking into account interests of society as a whole.
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Dado, Jaroslav, Lenka Hvolkova, and Janka Taborecka. "Globalization and Bankruptcy of SMEs in Slovakia." SHS Web of Conferences 92 (2021): 07015. http://dx.doi.org/10.1051/shsconf/20219207015.
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Research background: Globalization - the process of increasing social, cultural, political, and economic interdependence - has resulted in several changes in business environment. Global market opportunities and threats are major effects of globalization; they refer to the increases in market potential, trade and investment potential and resource accessibility. Global market threats refer to the increases in the number and level of competition, and the level of uncertainty. Global competitors can have the impact on bankruptcy of local SMEs in less developed or smaller countries. Are globalization in economics and company bankruptcy related? In the past, the cause of bankruptcy was mainly in the company itself. The development of globalization has brought a number of positive as well as a number of negative consequences for several areas of society. Is one of the negative effects of globalization the bankruptcy of companies? Purpose of the article: The paper presents a classification of external and internal causes of bankruptcy and indicators of the threat of company bankruptcy. The paper also focuses on the results of the research analysis about the causes of small and medium-sized enterprises mortality in Slovakia and the impact of globalization factors as the causes of their bankruptcy. The analysis of bankruptcies is oriented on the research of the causes of small and medium-sized enterprises mortality in Slovakia and the influence of globalization factors as the causality of their bankruptcy. Methods: The research sample presents structured interview with 16 SMEs´ owners. They identified more aspects of globalization impact to Slovak SMEs bankruptcy. Findings & Value added: The results of research indicate that there is an evidence of impact of globalization on the bankruptcy of SMEs in Slovakia, but there are some differences among various industries.
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Januševičiūtė, Aistė, and Daiva Jurevičienė. "The Matter of Bankruptcy: Theory and Practice." Mokslas - Lietuvos ateitis 1, no. 3 (April 11, 2011): 30–33. http://dx.doi.org/10.3846/147.
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Various opinions on internal and external reasons of bankruptcy origin are systemized in the article. Analyzing the impact of bankruptcy for state’s economy both negative (such as economic and social) and positive (such as merges or just closing of non effective companies) sides are pointed out. After analyzing the dynamics of bankruptcy of Lithuanian enterprises during recent years, the main factors which influenced the insolvency are stated.
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Binti Hashim, Hazlaili, Andy Lim Yee Chee, Yeo Sook Fern, Anushia Chelvarayan, and Khairol Nizat Bin Lajis. "Factors Contributing To Financial Literacy Level Among Youth." RSF Conference Series: Business, Management and Social Sciences 1, no. 1 (July 28, 2021): 30–35. http://dx.doi.org/10.31098/bmss.v1i1.251.
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The number of bankruptcy cases registered from 2017 to April 2021, according to the Malaysian Insolvency Department, is 58,065. Bankruptcy cases involving people under the age of 34 accounted for 24.28 percent of all filings. The inability to pay personal loans, instalment purchases, and credit card debt led to the majority of bankruptcy cases. This is alarming because it suggests that young Malaysians are still unaware of their financial situation. As a result, the goal of this research is to investigate the level of financial literacy among youth, as well as the relationship between financial knowledge, financial behaviour, financial attitude, and familial influences on financial literacy. A non-probability convenience sampling method was used to gather information from 181 respondents. The findings of the study show that financial knowledge (p=0.000), financial behaviour (p=0.000), and family influence (p=0.000) are significantly associated with financial literacy, the dependent variable in this study, with the exception of financial attitude (p=0.418). The sample size is among the limitation of this study which it does not represent the population of youth in Malaysia. The conclusions of this study have significant consequences for a variety of stakeholders, including university students, universities, students' parents, government, and future researchers. The factors that influence financial literacy among youth were investigated in this study, and several significant factors were revealed. This will also add to the supports of the agenda in the National Strategy for Financial Literacy 2019 to 2023.
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Voiko, A. V. "Bankruptcy Prediction Models for Construction Companies in the Russian Federation." Finance: Theory and Practice 23, no. 5 (October 24, 2019): 62–74. http://dx.doi.org/10.26794/2587-5671-2019-23-5-62-74.
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The article is concerned with determining the main predictors of bankruptcy in construction organizations in the Russian Federation. Probabilistic prediction of bankruptcy is relevant for both individual companies and sectors of the national economy. Developed a long time ago, the existing bankruptcy prediction methods do not consider the industry specifics of organizations. The article investigates the mechanism for probabilistic prediction of bankruptcy based on logit models. Criteria affecting the bankruptcy probability were substantiated; a mathematical model was proposed to calculate the probability. The provided model was tested in a real company. Based on the sample of small and medium-sized construction companies, the author proposed a logit model reflecting the main factors affecting the financial state of construction companies in Russia and, therefore, the likelihood of their bankruptcy. Testing the model on the actual data from the construction enterprises showed its high predictive power. The study results allow predicting the bankruptcy in construction organizations by means of logit models.
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Sarnakov, Igor Valerievich, Aleksandra Vadimovna Sarnakova, Igor Valentinovich Matveev, Natalya Alekseevna Matveeva, and Ekaterina Sergeevna Yulova. "The problem of insufficient debtor’s property during bankruptcy." SHS Web of Conferences 118 (2021): 04006. http://dx.doi.org/10.1051/shsconf/202111804006.
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The purpose of the study is to determine the key factors affecting the occurrence of insufficiency of debtors’ property in modern conditions, as well as to formulate the main directions of overcoming them. The methodological basis of the research was the dialectical method of scientific knowledge, general scientific (analysis, synthesis, modeling), and special scientific methods (formal and legal, statistical). The result of the work was the formulation and substantiation of tasks, the setting of which is necessary for further scientific research aimed at increasing the number of satisfied creditors’ claims. In addition, the authors identified the elements of the legislatively enshrined bankruptcy mechanism, which require changes to resolve the indicated problem. In particular, the measures proposed by the authors will make it possible to increase the degree of filling the bankruptcy estate by modernizing the procedure for selling the debtor’s property, stimulating a more active position of the arbitration administrator to challenge the debtor’s transactions, and bringing his controlling persons to subsidiary liability. The novelty of the work lies in the identification of key factors influencing in modern conditions the appearance of signs of insolvency, the quality, and quantity of debtors’ assets, the insufficiency of their bankruptcy estate. Among them, objective economic reasons, imperfection of bankruptcy legislation, dishonesty of key participants in legal relations related to bankruptcy (debtor, bankruptcy administrator, majority creditors), unwillingness to use the institution of bankruptcy rehabilitation mechanisms, and the epidemiological situation are highlighted.
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Beshtoyev, M. I. "MOVE FROM REPRESSION TO PROTECTION OF DEBTOR, FROM PUNISHMENT TO REHABILITATION." Strategic decisions and risk management, no. 5 (December 29, 2015): 62–75. http://dx.doi.org/10.17747/2078-8886-2015-5-62-75.
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This article considers features of bankruptcy regime of Russia, whether it is pro-debtor or pro-creditor. It also considers common factors that have an impact on implementation of Russian legislation in the field of insolvency (bankruptcy). The article explores possible ways of reform of the legislation to provide more complete balance of interests in the bankruptcy cases and prevent the liquidation of potentially solvent debtors that are suffering temporary financial distress.
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Agarwal, Sumit, and Chunlin Liu. "Determinants of credit card delinquency and bankruptcy: Macroeconomic factors." Journal of Economics and Finance 27, no. 1 (March 2003): 75–84. http://dx.doi.org/10.1007/bf02751591.
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Podhorska, Ivana, Maria Kovacova, and Katarina Valaskova. "Searching for Key Factors in Enterprise Bankrupt Prediction: A Case Study in Slovak Republic." Economics and Culture 15, no. 1 (June 1, 2018): 78–87. http://dx.doi.org/10.2478/jec-2018-0009.
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Abstract The issue of enterprise in bankrupt or financial health as a whole is still very actual topic not only in Slovakia but also in abroad. Works dealing with the enterprise in bankruptcy have already appeared in the 1930s of the 20th century. Bankrupt of enterprise affect all subject in relationship with this enterprise. Financial experts were looking for the ways for enterprise bankrupt prediction. This article is based on the searching for key factors that could indicate the enterprise in bankrupt in Slovak conditions. This article tries to work with financial variables from the area of financial health assessment of enterprise and works with the sample of Slovak enterprises. This sample includes 8,522 financial statements of enterprises in 2016. According to several relevant decisions rules, for example, the value of equity or equity debt ratio, enterprises are divided into two categories – bankrupt enterprises and creditworthy enterprises. Subsequently, this article tries to find statistically significant financial variables that could indicate involving enterprises in these two categories and works with several statistical methods for searching significant relationship between variables and the tightness of relations between them. As a main statistical method, Pearson´s correlation coefficient is used, which is supported by correlation matrices. In addition, it is necessary to test an existence of outliers in the sample of enterprises. Existence of outliers is tested by the Grubbs test of outliers.
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Silchenko, Vladislav. "Bankruptcy tourism within Russia: issues of jurisdiction in personal bankruptcy cases." SHS Web of Conferences 134 (2022): 00106. http://dx.doi.org/10.1051/shsconf/202213400106.
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The paper analyzes the practice of the Supreme Court of the Russian Federation in countering bankruptcy tourism of citizens. The paper considers the cases with the criteria for jurisdiction of personal bankruptcy in Russia, and employs the category of the center of main interests of the debtor known to foreign law order. The author shows the difference between the jurisdictional links in Russia and the EU in cases of personal bankruptcy, and general and specific in the presumptions that determine the jurisdiction factors. The paper provides the Russian definition of bankruptcy tourism defined by the Supreme Court of the Russian Federation for cases when a debtor-citizen 'manipulates' the jurisdiction of the bankruptcy case to transfer its consideration to the region where the debtor does not actually live, and shows the legal consequences of these actions in court proceedings. According to the author, in terms of Russian law, the practice of combating bankruptcy tourism does not imply the refusal to protect the rights which a person is abusing, it is based on the specifics of proving the jurisdiction factor – the place of residence of the debtor. The author argues the relevance of the European experience in regulating cross-border insolvency for improving the Russian legislation on bankruptcy.
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Boratyńska, Katarzyna. "A New Approach for Risk of Corporate Bankruptcy Assessment during the COVID-19 Pandemic." Journal of Risk and Financial Management 14, no. 12 (December 7, 2021): 590. http://dx.doi.org/10.3390/jrfm14120590.
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The consequences of COVID-19 will aggravate existing multidimensional risks and reveal new ones. The research gap allows contributing to recognizing the exogenous risk factors of corporate bankruptcy during the COVID-19 pandemic in EU countries. This study aims at revealing how to evaluate the risk of corporate bankruptcy phenomenon in the COVID-19 times. The question arises as to whether Schumpeter’s creative destruction approach is still accurate. The article concentrates on implementing the fsQCA (fuzzy set Qualitative Comparative Analysis) method to identify and evaluate the main exogenous drivers of corporate bankruptcy in EU countries based on Fragile States Index data. This new approach focuses on fuzzy sets theory. The fsQCA method is a globally recognized alternative to quantitative analysis (in which the causal complexity is ignored) and qualitative methods for examining individual cases (which do not have the tools to generalize on their basis). The research indicates and examines the main external factors that would increase the risk of corporate bankruptcy in EU countries: namely, economic decline, uneven economic development, unemployment rate, demographic pressure, and government debt. The study discusses the influence of zombie companies on economies during the COVID-19 pandemic. Identifying risk factors that determine the threat of corporate bankruptcy may constitute practical recommendations for business and restructuring practitioners, financial institutions, and banking and public sector representatives in creating warning and recovery measures during the COVID-19 pandemic.
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Motkin, Roman V., and Vladislav N. Motkin. "Features of Functioning of the Institution of Arbitration Management in a Crisis: The Regional Aspect." Engineering Technologies and Systems 28, no. 4 (December 30, 2020): 801–22. http://dx.doi.org/10.15507/2413-1407.113.028.202004.801-822.
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Introduction. The relevance of the study consists in expanding theoretical developments in the field of economic sociology, in particular, in identifying the features of functioning of the institution of arbitration management in the Russian Federation in the 2020 crisis. The purpose of the study is to reveal the features of implementation of the powers of bankruptcy commissioners, as well as to scrutinize the socio-economic status of the professional group of bankruptcy commissioners in the crisis period of March – April 2020. Materials and Methods. In the course of the study, a secondary analysis of the latest Russian and foreign regulatory and legal framework governing the activities of the institution of bankruptcy during the crisis period of the first half of 2020 was carried out. In particular, statistics of insolvency procedures in 2018–2020, as well as draft legal acts related to bankruptcy were analyzed in the regional context and in regard to change in the status of the social and professional group of bankruptcy commissioners. Results. The factors influencing the functioning of the institution of arbitration management during the crisis period have been identified, the key ones of which are the lack of state support for specialists in the field of insolvency during a crisis period; controversial legislative initiatives; a steady increase in the conflict nature of insolvency procedures; high risk of bringing bankruptcy commissioners to justice without proper income growth; fragmentation of the professional community of bankruptcy commissioners. Discussion and Conclusion. The performed analysis made it possible to conclude that the introduction of a moratorium on bankruptcy, the lack of state support for the industry, as well as significant difficulties in exercising the powers of bankruptcy commissioners in the context of the crisis measures in the first half of 2020 had a significant negative impact on the socio-economic situation of the professional group of bankruptcy commissioners. Factors in the formation of the professional status of bankruptcy commissioners in the post-crisis period are the relevant issues for further research. The results of the study may be useful to scientists specializing in Economics and Law, to students attending anti-crisis management programs, as well as to specialists in the field of insolvency.
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오문준. "A Study on Factors Affecting the bankruptcy choice and the Duration of Potential Bankruptcy Situation in Debtors." Journal of Governance Studies 11, no. 2 (August 2016): 141–69. http://dx.doi.org/10.16973/jgs.2016.11.2.006.
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Li, Xin, and Yongjian Li. "NEV’s Supply Chain Coordination with Financial Constraint and Demand Uncertainty." Sustainability 14, no. 3 (January 19, 2022): 1114. http://dx.doi.org/10.3390/su14031114.
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Sustainable development coordination can facilitate the new energy vehicles (NEV) supply chain. By a coordinating supply contract, the operating costs can be reduced and supply chain competitiveness can be improved. We designed a revenue-sharing and buy-back (RSBB) contract to coordinate the supply chain with the cash-strapped retailer or manufacturer and analyzed the impact of the acceptable bankruptcy risk and own fund on the optimal order quantity, supply chain profits, and coordinating factors, including revenue share and buy-back price. Interestingly, the revenue share decreases in the acceptable bankruptcy risk, but the buy-back price increases in the acceptable bankruptcy risk when the retailer has financial constraints. However, when the manufacturer has financial constraints, the revenue share increases in the acceptable bankruptcy risk, but the buy-back price decreases in the acceptable bankruptcy risk.
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Murthy, Uma, and Paul Anthony Mariadas. "Factors Affecting Fresh Graduate Bankruptcy at Young Age: The Case of Fresh Graduates in Kota Damansara." International Journal of Business and Management 12, no. 12 (November 20, 2017): 194. http://dx.doi.org/10.5539/ijbm.v12n12p194.
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The paper studies the relationship between factors affect fresh graduate bankruptcy at young age and with credit card, bank policies, poor financial planning and attitude towards money. This study has also employed the multiple regression method to examine the studies to test the relationship and to test the hypothesis. Furthermore, the data was analyzed with the software known as Statistical package for Social Science, for short SPSS using 130 questionnaire. The results show indication that there is positive relationship between fresh graduate bankruptcy with credit card, bank policies, poor financial planning and attitude towards money.
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Et.al, Aqilah Nadiah MD SAHIQ. "Towards Achieving Long-Term Debt Sustainability: A Systematic Review of the Key Determinants of Personal Bankruptcy." Turkish Journal of Computer and Mathematics Education (TURCOMAT) 12, no. 3 (April 10, 2021): 1305–17. http://dx.doi.org/10.17762/turcomat.v12i3.900.
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Purpose: This systematic review aimed to assess previous research about financial and non-financial causes of personal bankruptcy among individual households. Additionally, the paper aimed to provide an insight into the key determinants of personal bankruptcy and to determine their relationship with individual characteristics. The fundamental causes of bankruptcy and its effects on financial status were also discussed. Through understanding the causes of bankruptcy, we hope to help financial institutions to minimise the number of personal bankruptcies.
Design/methodology/approach: A comprehensive systematic search was conducted to identify articles on determinants of personal bankruptcy. The selected articles were then analysed using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol.
Findings: We identified several themes that emerged as the key determinants of personal bankruptcy filings. These determinants were demographic indicators, socioeconomic status indicators, debt indicators, financial indicators, social stigma indicators, behavioural indicators, and macroeconomic indicators.
Research implications: The key determinants of personal bankruptcy that were identified in this systematic review are renowned factors in the personal bankruptcy literature. Therefore, these determinants should be studied extensively to examine their effects in other studies and using a different type of datasets.
Practical implications: The findings of this study help the financial institutions to predict the likelihood of consumer default by developing an effective credit scoring model. Additionally, the development of an effective credit scoring model could serve as an early warning indicator to identify “high risk” client.
Originality/value: Bankruptcy is a long-term process that does not occur instantly. Therefore, a longitudinal and comprehensive approach is required to understand bankruptcy. Our findings contribute to the current literature by providing a better understanding of the causes of personal bankruptcy. We recommend developing an effective credit scoring model to predict the likelihood of personal bankruptcy.
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Zainol Abidin, Juraini, Nur Adiana Hiau Abdullah, and Karren Lee-Hwei Khaw. "BANKRUPTCY PREDICTION: SMES IN THE HOSPITALITY INDUSTRY." Vol. 16, Number 2, 2021 16, Number 2 (June 21, 2021): 51–80. http://dx.doi.org/10.32890/ijbf2021.16.2.3.
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The objectives of this study are to predict bankruptcy risk among SMEs in the hospitality industry for a three-year horizon period and to investigate the factors that are significant in determining bankruptcy. The contribution of SMEs in the hospitality industry is essential as businesses in the hospitality industry are dominated by SME operators. However, the failure rate among SMEs is relatively high and almost 50 percent of hospitality establishments do not survive beyond five years of operation. The Stepwise logistic model was employed to determine significant predictors that could predict bankruptcy for the period of one year, two years and three years before bankruptcy. Return on assets and firm age were found to be significant in all periods while other variables were identified to be important at a specific period prior to bankruptcy. In addition to return on assets and firm age, debt ratio and total assets turnover were found to be significant predictors of bankruptcy one-year prior to bankruptcy. However, in the two years prior to bankruptcy, debt ratio and total assets turnover were no longer important but current ratio, ownership concentration and gender diversity were found to be significant. As for the three years prior to bankruptcy, additional variables namely debt-to-equity ratio and board size were found to be significant, but ownership concentration and gender diversity ceased to be important. The findings of this study contribute to the limited literature in predicting the bankruptcy risk of small firms for a three-year horizon period by providing empirical evidence from SMEs in the hospitality industry of Malaysia.
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Kubíčková, Dana Kubíčková, and Vladimír Nulíček. "Predictors of Financial Distress and Bankruptcy Model Construction." INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE AND BUSINESS ADMINISTRATION 2, no. 6 (2014): 34–42. http://dx.doi.org/10.18775/ijmsba.1849-5664-5419.2014.26.1003.
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The aim of this paper is to prepare the bankruptcy model construction. In the first part, multivariate discriminant analysis and its possibilities in deriving predictive models are characterized. The second part defines the possible indicators/predictors of financial distress of companies, which could be included in the new bankruptcy model. The model itself compares different views of factors that affect the company’s financial situation and contrasts the indicators that were constructed in the model in previous works (with special regard to the models in the transition economics). The result is the collection of 39 indicators to be verified in the next stage of the research project employing the multiple discriminant analysis methods to specify which of them to be included in the new model.
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Alyana, Oktia Vandriani, and Aang Munawar. "Faktor-Faktor Yang Mempengaruhi Tingkat Kebangkrutan Pada Perbankan Syariah Periode 2013-2019." Jurnal Ilmiah Manajemen Kesatuan 9, no. 1 (April 30, 2021): 103–12. http://dx.doi.org/10.37641/jimkes.v9i1.494.
Full textAbstract:
This research was conducted using banking financial statements for seven years, namely the period 2013 - 2019 from banks engaged in the financial sector. The analytical method used is financial ratio analysis
By using financial ratio analysis, it can be seen that the LDR, NPL, CAR and NIM affect the level of bankruptcy in banks this can occur due to internal factors contained in a bank. Then the conclusion is that the LDR, NPL, CAR and NIM affect the bank's bankruptcy level.
It can be seen in the financial statements of the results of the LDR, NPL, CAR and NIM produced by banks increasing and decreasing during the research period, this has caused the bankruptcy rate of banks to also increase and decrease. The banking industry tries to maintain its Z-score by maintaining the value of the LDR, NPL, CAR and NIM variables on the financial statements, although the factors produced are not too large and even below average, the factors have increased. The number of factors in the financial statements that are affected by the level of financial ratios and income that has decreased due to banks that have not been able to emphasize their income.
Banks conduct policies well by maintaining health and profit growth in terms of financial statements.
Keywords: LDR, NPL, CAR, NIM and Bank's Bankruptcy Rate
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Babanov, A. V. "EVALUATION OF THE FINANCIAL POSITION OF THE ENTERPRISE AND DETERMINATION OF THE OPTIMAL MODEL OF THE PROBABILITY OF BANKRUPTCY." Strategic decisions and risk management, no. 5 (December 29, 2015): 76–80. http://dx.doi.org/10.17747/2078-8886-2015-5-76-80.
Full textAbstract:
The article deals with the financial analysis of the companies in bankruptcy proceedings. Using the principle of invariance of factors in predicting the functions of financial analysis, it was possible to assess the parameters and structure of the optimal model of the probability of bankruptcy and to establish criteria for the financial situation of the company. All possible models and methods of probability of bankruptcy to anticipate the onset of bankruptcy with a certain degree of probability, but in predicting bankruptcy of domestic producers must be borne in mind that the weights used in the prior art methods require adjustments for regional and sectoral conditions of functioning of economic entities, and the existing trend does not reflect the full information on the dynamics and structure of equity and debt, working capital and liquidity. Thus, it is considered appropriate to use the theory of econometrics, which ensures the independence of the numerical results of the analysis and forecast of the series shift along the time axis. It needs to estimate parameters and structures of the optimal model of the probability of bankruptcy and to establish criteria for the financial position of the company on the principle of invariance in the bankruptcy proceedings. The study serves the basis for a proactive approach to the identification of the optimal model terms of probability of bankruptcy of enterprises and the financial situation of enterprises.