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Construction Elements Of Bankruptcy Prediction Models In Multi–Dimensional Early Warning Systems

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  • Jaros³aw Kaczmarek

    (Cracow University of Economics, Poland)

Abstract

A consequence of the inevitability of the occurrence of internal crises in companies is the taking of preventive action in place of purely remedial measures. In this respect a significant role is played by Early Warning Systems (EWS), which provide early warning information and financial threat assessments relating to the continuation of operations and bankruptcy not only for individual companies as such but also for companies as a whole. The limitations of existing models used for EWS purposes have led to the elaboration of new models, estimated on one of the largest hitherto drawn up teaching sets, constituting more than five hundred bankrupt companies. These models also distinguish themselves through the application of innovative methods and precise instruments; the structural concept of these models for multi–dimensional EWS purposes, accompanied by elements used for predicting, is presented in this article.

Suggested Citation

  • Jaros³aw Kaczmarek, 2012. "Construction Elements Of Bankruptcy Prediction Models In Multi–Dimensional Early Warning Systems," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 5(1), pages 136-149, June.
    • Handle: RePEc:pcz:journl:v:5:y:2012:i:1:p:136-149
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    References listed on IDEAS

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    1. Rousseeuw, Peter J. & Christmann, Andreas, 2003. "Robustness against separation and outliers in logistic regression," Computational Statistics & Data Analysis, Elsevier, vol. 43(3), pages 315-332, July.
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    Cited by:

    1. Sebastian Klaudiusz Tomczak, 2020. "Multi-class Models for Assessing the Financial Condition of Manufacturing Enterprises," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 14(2), June.
    2. Jarosław Kaczmarek, 2019. "The Mechanisms of Creating Value vs. Financial Security of Going Concern—Sustainable Management," Sustainability, MDPI, vol. 11(8), pages 1-24, April.

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    More about this item

    Keywords

    bankruptcy; bankruptcy prediction; early warning system; logistic regression model;
    All these keywords.

    JEL classification:

    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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