Limitation of Financial Health Prediction in Companies from Post-Communist Countries

Csikósová, Adriana; Janošková, Mária; Čulková, Katarína

doi:10.3390/jrfm12010015

Cited by 21 publications

(17 citation statements)

References 20 publications

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“…The limitation of this study is that despite the effective management, high-quality and stable functioning of the financial support system for the textile enterprises development requires identification and full utilization of internal institutional financial infrastructure (Csikosova et al 2019). It is formed by the subjects of the enterprise financial policy, its internal institutional and legal and regulatory framework and methodological support, formal and informal rules of corporate behaviour in the financial sector.…”

Section: Discussionmentioning

confidence: 99%

Impact of Financial Support on Textile Enterprises’ Development

Boichenko

Mata

et al. 2021

JRFM

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The purpose of this study is to determine the mutual influence of financial security on the textile enterprises development level. The proposed methodological approach is based on the formation of an integrated financial security indicator and its regression model. The study is based on 16 textile enterprises in the European Union. Integral indicators on capital structure, current financing sufficiency and financial efficiency of the investigated enterprises have been defined according to the rapid diagnostics of financial provision of the textile enterprises. The state of financial support for the studied companies’ development has been evaluated. It has been established that the development of textile enterprises depends to a large extent on their financial support as a whole. The change in the development level of companies depends substantially on the change in the integrated indicator of their financial provision. In particular, textile enterprises’ development is significantly affected by the capital structure and the predominance of equity in it, as well as current financing. The financial efficiency factors taken into account do not have a significant impact on the development of textile enterprises. This study proposes a financial security model, developed by partial integrated indicators. It enables visual comparison, collation of the capital structure state, current financing and financial efficiency of the studied enterprises with optimal value.

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Section: Discussionmentioning

confidence: 99%

Impact of Financial Support on Textile Enterprises’ Development

Boichenko

Mata

et al. 2021

JRFM

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“…The main reason for this is that two of the rarely used coins and notes in Taiwan are in the middle of the denominational range, whereas for the Euro, these tokens concern the ends of that range. Csikosova et al (2019) view the financial health of a company as the ability to maintain a balance against changing conditions in the environment and, at the same time, in relation to everyone participating in the business. In the evaluation of financial health and prediction of financial problems of the companies, various indexes are used that can serve as input for expert estimation or creation of various models using, for example, multi-dimensional statistical methods.…”

Section: Discussion Of the Review Papersmentioning

confidence: 99%

Editorial for Applied Econometrics

Chang

2020

JRFM

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This Editorial evaluates 14 invaluable and interesting articles in the Special Issue “Applied Econometrics” for the Journal of Risk and Financial Management (JRFM). The topics covered include recovering historical inflation data from postage stamps prices, FHA loans in foreclosure proceedings through distinguishing sources of interdependence in competing risks, information in earnings forecasts, nonlinear time series modeling, a systemic approach to management control through determining factors, economic freedom and FDI versus economic growth, efficient cash use of the Taiwan dollar, financial health prediction in companies from post-Communist countries, influence of misery index on U.S. Presidential political elections, multivariate student versus Gaussian regression models in finance, financial derivatives markets and economic development, income inequality and economic growth in middle-income countries, abnormal returns, mis-measured risk, network effects, and risk spillovers in stock returns.

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“…We focused on developing a specific model that would be suitable for the analyzed industry. Based on the recommendations of [90], when designing the bankruptcy prediction model, we focused on meeting the characteristics and legislative adjustments of the country in which the analyzed companies operate.…”

Section: Methodsmentioning

confidence: 99%

Comparison of the Results of a Data Envelopment Analysis Model and Logit Model in Assessing Business Financial Health

Horváthová

Mokrišová

2020

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This paper focuses on business financial health evaluation with the use of selected mathematical and statistical methods. The issue of financial health assessment and prediction of business failure is a widely discussed topic across various industries in Slovakia and abroad. The aim of this paper was to formulate a data envelopment analysis (DEA) model and to verify the estimation accuracy of this model in comparison with the logit model. The research was carried out on a sample of companies operating in the field of heat supply in Slovakia. For this sample of businesses, we selected appropriate financial indicators as determinants of bankruptcy. The indicators were selected using related empirical studies, a univariate logit model, and a correlation matrix. In this paper, we applied two main models: the BCC DEA model, processed in DEAFrontier software; and the logit model, processed in Statistica software. We compared the estimation accuracy of the constructed models using error type I and error type II. The main conclusion of the paper is that the DEA method is a suitable alternative in assessing the financial health of businesses from the analyzed sample. In contrast to the logit model, the results of this method are independent of any assumptions.

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Limitation of Financial Health Prediction in Companies from Post-Communist Countries

Cited by 21 publications

References 20 publications

Impact of Financial Support on Textile Enterprises’ Development

Impact of Financial Support on Textile Enterprises’ Development

Editorial for Applied Econometrics

Comparison of the Results of a Data Envelopment Analysis Model and Logit Model in Assessing Business Financial Health

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