Bankruptcy Prediction in Transformational Economy: Discriminant and Fuzzy Logic Approaches

Matviychuk, Andriy

doi:10.25102/fer.2010.01.02

Cited by 23 publications

(16 citation statements)

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“…Both authors used the linear discriminative analysis technique to estimate them. Matviychuk (2010) reached interesting conclusions-he provided arguments confirming the claim that foreign models would not work in Ukrainian conditions. This is due, among other factors, to the fact that many Ukrainian companies understate their income to avoid taxation.…”

Section: Ukrainementioning

confidence: 64%

Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries

Prusak

2018

IJFS

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Abstract:In developed countries, the first studies on forecasting bankruptcy date to the early 20th century. In Central and Eastern Europe, due to, among other factors, the geopolitical situation and the introduced economic system, this issue became the subject of researcher interest only in the 1990s. Therefore, it is worthwhile to analyze whether these countries conduct bankruptcy risk assessments and what their level of advancement is. The main objective of the article is the review and assessment of the level of advancement of bankruptcy prediction research in countries of the former Eastern Bloc, in comparison to the latest global research trends in this area. For this purpose, the method of analyzing scientific literature was applied. The publications chosen as the basis for the research were mainly based on information from the Google Scholar and ResearchGate databases during the period Q4 2016-Q3 2017. According to the author's knowledge, this is the first such large-scale study involving the countries of the former Eastern Bloc-which includes the following states: Poland, Lithuania, Latvia, Estonia, Ukraine, Hungary, Russia, Slovakia, Czech Republic, Romania, Bulgaria, and Belarus. The results show that the most advanced research in this area is conducted in the Czech Republic, Poland, Slovakia, Estonia, Russia, and Hungary. Belarus Bulgaria and Latvia are on the other end. In the remaining countries, traditional approaches to predicting business insolvency are generally used.

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Section: Ukrainementioning

confidence: 64%

Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries

Prusak

2018

IJFS

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“…Advantages of fuzzy set theory over other mathematical methods are provided in the work by Nikolenko et al, (2018) [13] and A. Matviychuk (2013) [10], which confirm the effectiveness of using fuzzy logic theory to solve the research problem. Therefore, it is advisable to use a modeling method based on theory fuzzy set to model, evaluate and predict the level of competitiveness of the Ukrainian agricultural sector.…”

Section: Literature Reviewmentioning

confidence: 55%

“…Rotshtein and A. Teodorescu (1998) [21]. Values of the parameters b and с of variables membership function х 1 … х 17 , v, f, p Thus, following fuzzy logical equations will correspond to linguistic statements from Table 4 (see formulas [6][7][8][9][10].…”

Section: Base Of Variable Kmentioning

confidence: 99%

Economic-Mathematical Modeling and Forecasting of Competitiveness Level of Agricultural Sector of Ukraine by Means of The-ory of Fuzzy Sets under Conditions of Integration into European Market

Kozlovskyi¹,

Khadzhynov²,

Lavrov³

et al. 2019

IJRTE

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The processes of integration of Ukraine into the European Economic Community, the presence of powerful competitors in the European markets encourage the formation of a set of measures with the distinction of tools to ensure the competitiveness of the agro-industrial complex of the state. The necessity of ensuring the competitiveness of Ukraine's agro-industrial complex on the basis of determining the competitive advantages dictate the urgency of scientific search for new methods, forms, tools for its enhancement, which will further promote the market relations in Ukraine and will have a direct impact on the wellbeing of the population. The aim of the work is to develop an innovative economic-mathematical model for assessing and forecasting the grade of competitiveness of the agricultural sector of Ukraine based on fuzzy sets, which will allow acceleration of the process of Ukraine integration into the European market. The object of the research is the process of ensuring the competitiveness of the Ukrainian agricultural sector. The subject of the research is methodological aspects of economic and mathematical modeling of the competitiveness of the agrarian sector of Ukraine. The methodology of the study is based on the principles and mathematical provisions of fuzzy sets, which allows to use both qualitative and quantitative indicators of influence on the process under study. As a result of the research, based on fuzzy set theory, which allows taking into account both quantitative and qualitative factors of influence on the level of competitiveness, an innovative economic-mathematical model of valuation and forecasting of the grade of competitiveness of the agricultural sector of Ukraine has been developed. The classification of factors influencing the level of agrarian industry competitiveness has been formed. The forecast of the grade of competitiveness of the agricultural sector of Ukraine in 2025 has been made, which will allow formulating a strategy of development of the agricultural sector of Ukraine.

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“…Several discriminant multi-factor models were developed to assess bankruptcy of enterprises in Ukraine. Most well-known among them are the model by Tereshenko (2003) and the model by Matviychuk (2013).…”

Section: Literature Reviewmentioning

confidence: 99%

Management and comprehensive assessment of the probability of bankruptcy of Ukrainian enterprises based on the methods of fuzzy sets theory

Kozlovskyi

Butyrskyi

Poliakov

et al. 2019

Problems and Perspectives in Management

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Managing and evaluating the probability of bankruptcy of Ukrainian enterprises is one of the most complex and relevant problems of the economy and management. In the context of Ukraine’s integration into the international space, there is an arising issue of assessing the bankruptcy of Ukrainian enterprises that meets international financial standards and allows administering this process. A qualitative assessment of the bankruptcy of an enterprise is possible only using artificial intelligence methods – the fuzzy sets method, which allows including qualitative and quantitative indicators to the model for assessing bankruptcy of enterprises in Ukraine. The aim of the article is to improve the existing method for assessing the probability of bankruptcy of Ukrainian enterprises on the basis of the fuzzy sets method, which will include indicators of international financial reporting and allow more efficient administration and management of this process. The subject of the research is the process of formalizing the method of the enterprise bankruptcy assessment in accordance with the indicators of International Financial Reporting Standards. The study offers a mechanism for a comprehensive assessment of the probability of bankruptcy of Ukrainian enterprises with the use of the methods of fuzzy sets, which is based on international financial indicators: current ratio, payable turnover ratio, equity turnover ratio, return on assets, equity-to-debt ratio. The mechanism allows quickly managing bankruptcy conditions. In order to administer the economic activity of the bankrupt enterprises, based on the theory of a fuzzy sets, a system of enterprises management takes into account the international financial reporting.

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Bankruptcy Prediction in Transformational Economy: Discriminant and Fuzzy Logic Approaches

Cited by 23 publications

References 0 publications

Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries

Review of Research into Enterprise Bankruptcy Prediction in Selected Central and Eastern European Countries

Economic-Mathematical Modeling and Forecasting of Competitiveness Level of Agricultural Sector of Ukraine by Means of The-ory of Fuzzy Sets under Conditions of Integration into European Market

Management and comprehensive assessment of the probability of bankruptcy of Ukrainian enterprises based on the methods of fuzzy sets theory

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