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Models Predicting Financial Distress and their Accuracy in the Case of Construction Industry in the Czech Republic

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F68407700%3A21630%2F15%3A00238960" target="_blank" >RIV/68407700:21630/15:00238960 - isvavai.cz</a>

  • Result on the web

    <a href="http://www.ufu.utb.cz/konference/sbornik2015.pdf" target="_blank" >http://www.ufu.utb.cz/konference/sbornik2015.pdf</a>

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    Models Predicting Financial Distress and their Accuracy in the Case of Construction Industry in the Czech Republic

  • Original language description

    Corporate financial distress and risk of bankruptcy may not lead only to a market exit of an ailing company but it can seriously influence also business related entities or counterparties. This reason raises the need to have tools which can help predict future environment and ecision making process. Models predicting corporate financial distress as well as called bankruptcy models are an example of these tools and methods. Last global economic crisis has again renewed the scientific debate about appropriate accuracy of bankruptcy models. This paper is focused on an explanatory power of models predicting financial distress created in the past. Dozens of models are tested in the case of construction industry which has been highly affected by the last crisis. The paper should answer several questions. The question 1 is if the explanatory power of bankruptcy models created in the past is sufficient for decision making process. The question 2 is which models have the highest accuracy and which should be recommended for practical use. According to results connected with previous questions we can answer if there is a need of a new predicting tool. Statistically significant data sample is used for this research. Dozens of models predicting financial distress are verified by tools as Type I Error, Type II Error, ROC Curves and related AuROC coefficients.

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

  • OECD FORD branch

    50206 - Finance

Result continuities

  • Project

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2015

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    Proceedings of the 7th International Scientific Conference: Finance and performance of firms in science, education and practice

  • ISBN

    978-80-7454-482-8

  • ISSN

  • e-ISSN

  • Number of pages

    13

  • Pages from-to

    178-190

  • Publisher name

    Univerzita Tomáše Bati ve Zlíně, Fakulta managementu a ekonomiky

  • Place of publication

    Zlín

  • Event location

    Zlín

  • Event date

    Apr 23, 2015

  • Type of event by nationality

    WRD - Celosvětová akce

  • UT code for WoS article

    000374107300013