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
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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
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
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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
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e-ISSN
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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