Predictive Potential and Risks of Selected Bankruptcy Prediction Models in the Slovak Business Environment

Gavurová, Beata; Packova, Miroslava; Mišanková, Mária; Smrčka, Luboš

doi:10.3846/16111699.2017.1400461

Cited by 61 publications

(51 citation statements)

References 33 publications

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“…Based on survey information (FERMA, 2017; The risk management association, 2017; Institute of Risk Management, 2017), it can be said that the situation in the risk management application in enterprises in Eastern Europe and Slovakia is not favourable. The application of risk management is less systematic in many enterprises as compared to developed countries and is made with a certain reserve (Gavurova et al 2017). According to several authors who have addressed this issue (Sira, 2016;, there is a lack of a sufficiently interconnected comprehensive risk management framework, and the frameworks that are in place often work without a business strategy.…”

Section: The Current State Of Risk Management Application In Companiementioning

confidence: 99%

The Dependence of Perceived Business Risks on the Size of SMEs

Hudáková¹,

Masár²,

Lusková³

et al. 2018

JOC

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The issues of risk management in small and medium-sized enterprises (SMEs) have been analysed and discussed for a long time. Nevertheless, it is still necessary to concentrate on this field, especially in the Slovak Republic. SMEs are very sensitive to changes in the business environment which are always reflected in the quantitative characteristics of this sector in a certain time interval. According to various global surveys and studies, risk management represents a significant contribution to the increasing competitiveness of enterprises in changes of the business environment. The aim of this paper is to statistically assess the dependence of perceived key business risks of SMEs on their size in Slovakia based on own empirical research carried out in 2017. The contribution also includes an assessment of key risk sources and an evaluation of the survey results compared to the results of surveys taken last year. Based on the results, market, financial, economic and personnel risks comprise the four most important risks that negatively affect the business environment of SMEs. Dependence perceived by the SME entrepreneurs was found among market factors, personnel risks, and business size. No dependence was found among the financial, economic and business risks. The overall results of the empirical research point to the need and importance of addressing the assessment of key risks and their resources in SMEs in Slovakia. The goal of the paper is to highlight through a relevant study the need to apply risk management in the SMEs and to bring the results of the research in Slovakia closer to world trends.

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Section: The Current State Of Risk Management Application In Companiementioning

confidence: 99%

The Dependence of Perceived Business Risks on the Size of SMEs

Hudáková¹,

Masár²,

Lusková³

et al. 2018

JOC

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“…Historically, linear discrimination analysis and logistic regression have been most commonly used in their construction, Gavurova et al (2017). Of course, we have a large number of other methods that can be used to construct a model for predicting the level of the financial health of an enterprise.…”

Section: Methodsmentioning

confidence: 99%

Prediction Financial Stability of Romanian Production Companies Through Altman Z-Score

Siekelová¹,

Kovalová²,

Ciurlău³

2019

EMS

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Nowadays, there is a much higher demand for financial and economic analyses in companies that help to face the challenges they face. The analysis is a tool for research, and evaluation of business transformation processes, conditions under which they take place. It also examines the impacts and causal relationships that take place here. Under the current economic conditions, it is necessary to apply new adequate methods in corporate governance that meet market needs and requirements. Prognosis of the development of the financial situation of the company, i.e., the forecast of its future solvency, or insolvency, is based on the evaluation and interpretation of the results achieved today. Financial analysis of the company plays a vital role. The main aim of the research paper is to predict the financial health of the company using Altman's Z score. The work consists of the theoretical part of the financial-economic analysis. In the second chapter, we defined the method and indicators by which we will analyse the selected production companies in Romania. We managed to obtain data from 105 manufacturing companies that have been on the market for at least five years for the analysis, and we focused on the last three years of their activity using Altman's Z score. In the results of the work, we specifically evaluated the financial health of the company using the chosen method. At the end of the paper, we generally evaluated the achieved results by analysis. All the data used in the processing were extracted from professional book literature and provided corporate resources, especially from the balance sheet and profit and loss account.

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“…To obtain this objective, it is necessary to ensure appropriate conditions for the business environment in which the tax system of the country significantly contributes [11,18,27,28]. It is important to emphasize that, in addition to economic (tax system) factors, social, cultural and other factors are important for the creation of a quality business environment that is essential to economic development [12,29].…”

Section: Literature Reviewmentioning

confidence: 99%

The Main Performance and Effectiveness Factors of Sustainable Financial Administration Reform Using Multidimensional Statistical Tools

et al. 2019

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The tax system reform is a part of Slovakia’s comprehensive tax and levies reform. The reform should contribute to improving and making public finances more efficient. Its implementation into practice, however, is problematic due to attitudes and problems on the part of both the professional public and business entities. The aim of the paper is to help public authorities, and also tax policymakers and business entities to understand the perception of the tax system reform focusing on the most important and key factors of its sustainable effectiveness and performance in the context of its non-macroeconomic especially social, technological and process aspects. The analysis reveals the differences in perceptions of key factors from the viewpoint of the three studied groups. The paper is based on the information of the main actors of tax reform. In extensive empirical quantitative research (N = 1500), the data was obtained through the questionnaire survey carried out in four main districts of Slovakia. The data obtained during six months of 2018 using the questionnaire method were processed by basic statistical methods of descriptive statistics, followed by an analysis of major components and the factor analysis using more sophisticated multidimensional statistical tools. The factor analysis is crucial to the present paper as it has identified five significant indicators of the reform assessment and the functioning of the tax system after tax reform. Subsequently, a correspondence analysis has been applied to the item “electronization/computerization—great user comfort” to find out the differences in its perception by the respondents. The article thus provides a new scientific view on the evaluation of the reform of the financial administration’s management system in the Slovak Republic as well as its functioning in the context of its sustainable effectiveness and performance. The research results offer important and exciting implications and also motives for further investigation on the issue.

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Predictive Potential and Risks of Selected Bankruptcy Prediction Models in the Slovak Business Environment

Cited by 61 publications

References 33 publications

The Dependence of Perceived Business Risks on the Size of SMEs

The Dependence of Perceived Business Risks on the Size of SMEs

Prediction Financial Stability of Romanian Production Companies Through Altman Z-Score

The Main Performance and Effectiveness Factors of Sustainable Financial Administration Reform Using Multidimensional Statistical Tools

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