scholarly journals Bankruptcy prediction models for large agribusiness companies in AP Vojvodina

2021 ◽  
Vol 68 (3) ◽  
pp. 805-822
Author(s):  
Dragan Milić ◽  
Dragana Tekić ◽  
Vladislav Zekić ◽  
Tihomir Novaković ◽  
Milana Popov ◽  
...  
Keyword(s):  
Financial Stability ◽  
Agricultural Sector ◽  
Prediction Models ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Food Sector ◽  
Bankruptcy Risk ◽  
Quick Test ◽  
Score Model

The aim of this paper is to present application of different methods used for predicting bankruptcy of large agricultural and food companies in AP Vojvodina, as well as to determine which model is the most suitable for analyzing the companies from the observed sectors. The following three models were applied in the paper: Altman's Z'-score model, Kralicek DF indicators and Kralicek Quick test. The analysis included five companies from the agricultural sector and five companies from the food sector operating on the territory of AP Vojvodina in the period from 2015 to 2019. The results of the research based on the applied models showed that different conclusions can be made about the financial stability of the observed companies. Altman's Z'-score model provided the most rigorous forecast in terms of the bankruptcy risk, while the results of Kralicek DF indicators and Quick test are relatively similar.

scholarly journals Analysis of the financial position of mill companies in Vojvodina

2020 ◽  
Vol 24 (3-4) ◽  
pp. 119-122
Author(s):  
Dragana Tekić ◽  
Beba Mutavdžić ◽  
Nebojša Novković ◽  
Tihomir Novaković ◽  
Nataša Vukelić
Keyword(s):  
Financial Stability ◽  
Test Model ◽  
Z Score ◽  
Financial Reports ◽  
Financial Ratio ◽  
Quick Test ◽  
Financial Position ◽  
The Subject ◽  
Score Model

The subject of this research is the financial position of mill companies in Vojvodina. The specific aim of the research is to analyze the is to compare the applied models for the analysis of the financial position. The basis of the analysis are the financial reports of the observed companies in the period from 2015 to 2019. The analysis of the financial position was performed using two models: Altman's Z-score model and Kralicek's Quick test model. These models use standard financial ratio indicators to assess the risk of bankruptcy of companies, i.e. their financial stability and profitability. The obtained results suggest that the company MLINTEST stood out as the most successful company and that the company KIKINDSKI MLIN stood out as the company with the worst financial position. Both models gave similar results, and their further use is recommended when analyzing the financial position of mill companies in Vojvodina financial position, i.e. to assess the risk of bankruptcy of medium-sized mill companies in Vojvodina. The general aim of the research.

scholarly journals TESTING BHANDARI Z-SCORE MODEL BANKRUPTCY PREDICTION USING CASH FLOW

2018 ◽  
Vol 2 (1) ◽  
pp. 121-128
Author(s):  
Barcha Handal Sakti ◽  
Ely Kartikaningdyah
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Predictor Variable ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Discriminating Power ◽  
Significant Difference ◽  
Operating Cash Flow ◽  
Score Model

This research aimed to know whether the predictor variables on Bhandari’s z-score model having discriminating power which in each of the group has significant difference. Sample which was being used to assist was the manufacture company that consisted of healthy company and the unhealthy company enrolled in Indonesia stock exchange in the period of 2012-2014. Sample collecting method used purposive sampling and cross section was the data used in this research. This research was conducted by using Multivariat Discriminant Analysis (MDA). The result of this study showed predictor variable that gave discriminating power which stood of quality of earning (EAQ), operating cash flow divided by current liabilities (OCFCL), operating cash flow margin (OCFM), and operating cash flow return on total assets (OCFA) in distinguishing the healthy and unhealthy company significantly.

scholarly journals Family Businesses in Global Economy and Evaluating their Financial Health Using Bankruptcy Models

2021 ◽  
Vol 129 ◽  
pp. 03031
Author(s):  
Maria Truchlikova
Keyword(s):  
Financial Distress ◽  
Global Economy ◽  
Agricultural Sector ◽  
Prediction Models ◽  
Predictive Accuracy ◽  
Value Added ◽  
Business Environment ◽  
Bankruptcy Prediction ◽  
Family Businesses ◽  
Financial Health

Research background: Predicting and assessing financial health should be one of the most important activities for each business especially in context of turbulent business environment and global economy. The financial sustainability of family businesses has a direct and significant influence on the development and growth of the economy because they still represent the backbone of the economy and play an important role in national economies worldwide accounting. Purpose of the article: We used in this article the financial distress and bankruptcy prediction models for assessing financial status of family businesses in agricultural sector. The aim of the paper is to compare models developed by using three different methods to identify a model with the highest predictive accuracy of financial distress and assess financial health. Methods: The data was obtained from Finstat database. For assessing the financial health of selected family businesses bankruptcy models were used: Chrastinova’s CH-Index, Gurcik’s G-Index (defined for Slovak agricultural enterprises) and Altman Z-score. Findings & Value added: This article summarizes existing models and compares results of assessing financial health of family businesses using three different models.

Pengaruh Prediksi Kebangkrutan Model Altman Z-Score, Reputasi Auditor dan Opinion Shopping terhadap Opini Audit Going Concern

Owner ◽  
2020 ◽  
Vol 4 (1) ◽  
pp. 343-355
Author(s):  
Muhammad Yunus ◽  
Calen Calen ◽  
Sarida Sirait
Keyword(s):  
Stock Exchange ◽  
Sampling Technique ◽  
Bankruptcy Prediction ◽  
Manufacturing Companies ◽  
Z Score ◽  
Audit Opinion ◽  
Going Concern ◽  
Opinion Shopping ◽  
Score Model ◽  
Auditor Reputation

This study aims to determine the effect of the bankruptcy prediction of the Altman z-score model, auditor reputation and opinion shopping on going concern audit opinion in manufacturing companies listed on the Indonesia Stock Exchange in 2015-2019. This research is a causal associative research with a quantitative approach. The sample in this study were 25 manufacturing companies listed on the Indonesia Stock Exchange which were determined using purposive sampling technique. Observations in this study were carried out throughout the period 2015 to 2019 so that the number of observations was 125 data. The type of data used in this study is secondary data. While the data analysis method used in this research is panel data regression analysis with statistical data processing software, namely STATA. Based on the results obtained in this study, it can be seen that the prediction of bankruptcy based on the Altman z-score model has no significant effect on going concern audit opinion on manufacturing companies listed on the Indonesia Stock Exchange. Auditor reputation is proven to have a negative and significant effect on going concern audit opinion on manufacturing companies listed on the Indonesia Stock Exchange. And opinion shopping is also proven to have a negative and significant effect on going concern audit opinion on manufacturing companies listed on the Indonesia Stock Exchange.

scholarly journals Bankruptcy Prediction of Industrial Industry in the UK

2017 ◽  
Vol 1 (1) ◽  
pp. 1
Author(s):  
Wong Ming Nok
Keyword(s):  
Back Propagation ◽  
Dynamic Logic ◽  
Bankruptcy Prediction ◽  
Logic Model ◽  
Z Score ◽  
Out Of Sample ◽  
Sample Test ◽  
Score Model ◽  
The Uk ◽  
Propagation Network

We make comparison between 6 models including (1) Altman’s (1968) z-score; (2) Model 1: z-score model with adjusted coefficients; (3) Model 2: z-score model with modified variables; (4) Model 3: dynamic logic model; (5) Merton distance to default (DD) model (Bharath & Shumway, 2008) and (6) back-propagation network model (Lippman, 1987). We assess the relative information content of these models regarding their bankruptcy prediction capability. Our tests show that dynamic logic model and DD model both provide significantly more information than the others while DD model has the highest prediction accuracy in the out of sample test. It is also worth noticing that altering coefficients and adjusting variables of the original z-score model could not significantly improve the predictive power of z-score model regarding companies in the industrial industry in the UK.

scholarly journals An application of Altman Z-score model to analyze the bankruptcy risk: cases of multidisciplinary enterprises in Vietnam

2019 ◽  
Vol 16 (4) ◽  
pp. 181-191 ◽  
Author(s):  
Diep Thanh Tung ◽  
Vo Thi Hoang Phung
Keyword(s):  
Small And Medium Enterprises ◽  
Binary Logistic Regression ◽  
Z Score ◽  
Financial Reports ◽  
Bankruptcy Risk ◽  
The Sustainable Development ◽  
Financial Factors ◽  
Score Model ◽  
Medium Enterprises ◽  
The Impact

This study applied Altman Z-score model to assess the bankruptcy risk of a set of multidisciplinary enterprises of various types, mainly small and medium enterprises, with data taken from official financial reports of 180 enterprises in Soc Trang province. The binary logistic regression was employed to assess the impact of non-financial and financial factors on the bankruptcy risk of enterprises. The research findings showed that both the non-financial factors such as business area, types and size of the business, the educational level of managers and executors and other characteristics, and the financial factors (indicators) such as earnings before tax, net profit/equity ratio, earnings before interest and tax/total assets ratio, equity/total debt ratio, affect the bankruptcy risk of enterprises. Predicting the bankruptcy risk and measuring its determinants play an important role not only as an effective managing tool of the business, but also as evidence for policymakers to support the sustainable development of business.

scholarly journals BANKRUPTCY PREDICTION OF THE COMPANY USING ALTMAN Z–SCORE METHOD FOR THE CONVENTIONAL BANKS REGISTERED IN THE INDONESIA STOCKS EXCHANGE (BEI)

2017 ◽  
Vol 2 (02) ◽  
pp. 11
Author(s):  
Irwansyah .
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Gray Area ◽  
Analysis Technique ◽  
Score Analysis ◽  
Score Method ◽  
Score Model ◽  
Conventional Banks

This study was conducted to prove the accuracy of bankruptcy prediction of Altman Z-Score model on conventional banks listed on the Indonesia Stock Exchange. The data used in this study is secondary data obtained from the annual financial statements of conventional banks during the period of 2013-2016 mentioned on the official website of the Indonesia Stock Exchange. The data analysis technique used is bankruptcy prediction of Altman Z-Score model, using five variables representing liquidity ratios X1, profitability ratios X2 and X3, and activity ratios X4 and X5. The formula Z-score = 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + X5. When Z-Score criteria is Z > 2.90 it is categorized as a healthy company. Z-Score between 1.23 to 2.90 is categorized as a company in area. While Z-Score Z < 1.23 is categorized as a potential bankrupt company. Based on the results of the research, Z-Score analysis that has been done in the period of 2013-2016 indicating that most conventional banks are predicted bankrupt. The lowest score of the Z-Score is 1.23. Only one Bank Jtrust Indonesia Tbk (BCIC bank code) is in a healthy category. Bank Mandiri (Persero) Tbk with BMRI bank code, has been increasing from the prediction of bankruptcy category to the prediction of gray area category.Keywords: Altman Z-Score, Conventional Banks Listed on BEI 2013-2016, Prediction of Bankruptcy.

scholarly journals Company Bankruptcy Prediction Coal Mining Sector Listed on the Indonesia Stock Exchange and Its Impact on Stock Prices

2021 ◽  
Vol 3 (3) ◽  
pp. 95-106
Author(s):  
Erik Priambodo ◽  
Augustina Kurniasih
Keyword(s):  
Coal Mining ◽  
Stock Prices ◽  
Stock Exchange ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Mining Sector ◽  
Mining Companies ◽  
Panel Data Regression ◽  
Data Regression ◽  
Score Model

This study aims to prove whether coal mining sector companies have the potential to go bankrupt if measured using the Altman Z-Score model. The study also analyzed the effect of the components of financial ratios in the Altman Z-Score model on stock prices. The research sample is 17 coal mining companies listed on the Indonesia Stock Exchange for the 2015-2019 period. The results of the calculation of the Z-Score value show that several coal mining companies have the potential to go bankrupt. Using the panel data regression approach, it was found that the Z-Score value had a significant effect on stock prices. Partially, the EB/TA ratio has a significant effect on stock prices. The ratios of WC/TA, RE/TA, and MVE/BVL have no significant effect on stock prices.

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